How to Handle Financial Matters from Home

The weather outside may be bad, everyone around may be sick, or you may just be too lazy to get off the couch. But postponing purchases, payments, learning, and entertainment is not necessary — these can be done remotely. We offer ten tips on how to move at least part of your tasks online and save time and effort.

Set up auto-payments for yourself and loved ones

Older people are used to paying bills at bank offices. But, for example, during epidemics, there is no need to take risks. Set up auto-payment for yourself, your parents, grandparents, for utilities, mobile services, internet, taxes, and fines.

Order everything to your home

To avoid going to supermarkets and pet stores, order groceries and pet food to your home. Many chain supermarkets, from budget to premium, provide delivery.

If you cannot go outside, you can do something useful or enjoyable at home. For example, cook a favorite dish according to grandma’s recipe, organize storage, or update the interior. Construction materials, furniture, and home appliances are also delivered to your home.

Observe cyber hygiene

Cybercriminals often create duplicate websites of well-known online stores and services. Fake addresses may differ from the real one by only one or two characters. On fake sites, criminals collect personal data and card details through phishing. Check the addresses of the stores and services carefully where you will pay by card or enter personal data. Save the addresses of the ones you use regularly in bookmarks.

Create a separate debit card for online purchases and deposit only the amount you plan to spend on it. Some banks can remotely issue a regular plastic card and deliver it to you.

Many banks and electronic payment systems offer virtual cards for online payments. These cards have details but no physical form. Some virtual cards, also called digital, can be loaded into a smartphone with NFC functionality — they can be used for contactless payments offline, as well as for transfers and ATM withdrawals.

Arrange loans and deposits remotely

Most major banks have long transferred their services to a remote format. Through your personal account or mobile application, you can open a deposit or take a loan and receive the money directly to your card.

It may make sense to get a credit card with a long interest-free period (grace period). It allows you to use the bank’s money and not pay interest for some time. Such a card is useful when income temporarily decreases.

Optimize your budget

Forced or voluntary confinement can be used to organize your finances. Analyze your expenses over 2–3 months, categorize them to understand what you spend most on. Identify unnecessary purchases to eliminate — temporarily or permanently.

Think about your long-term goals and create a financial plan. It will help not to waste money on trivial things and to implement your global dreams, for example, saving for paid education, buying a car, or an apartment.

Increase financial literacy

Many educational portals, libraries, even video services offer free or low-cost access to their resources. Use this opportunity not only for entertainment but also for learning. For example, to learn something new in your professional field and increase your value as a specialist.