Thursday 15 / May / 2025
Muscat: With many people in the country feeling the financial pinch of the COVID-19 pandemic in the form of either delayed and/or reduced salaries, we’ve come up with five ways you can reduce your expenses during these unpredictable times.
Avoid eating out or
takeaways
Depending on how many you’re ordering for, where you’re getting your food from, and what you plan on eating, ordering takeout or going out for meal can set you back quite a bit, especially if you do it too often.
With many suggesting taking up a hobby or learning a skill during the spare time we have because of the pandemic, learning to cook is a great way to save money and an essential survival skill.
“When you’re hit financially because of the pandemic, you have got to spend on the basis of what you need, rather than what you desire,” says Sarweshwar Biyani, vice president (finance and accounts) at SV Pittie Sohar Textiles FZC. “Sharpening your new or existing skills will be a low-cost investment for you during the pandemic.”
Walk short distances
instead of using your car
Fuel prices in Oman aren’t that high, compared to other countries in the world, but every little bit of money saved during these testing times is beneficial. The next time you’re headed out to the supermarket, or for an errand that is a short distance from where you are, why not walk, instead of taking your car? According to financial analyst Ramanuj Venkatesh, it has multiple benefits.
“What I’ve observed during the pandemic is a lot of people choosing to adopt sedentary lifestyles, their excuse being that most outdoor areas and recreational places are closed right now,” he says. “Walking will not only save you money, but keep you fit, and the fresh air you get while outdoors will help with your immunity and work towards keeping diseases at bay.”
Move to cheaper
accommodation, if you can
Rents across many parts of the country have fallen during the ongoing pandemic, in part due to large numbers of expats – who traditionally occupy homes in apartment complexes – leaving, leading to a shortfall in demand that has resulted in realtors reducing rental rates to attract new tenants.
Doing a little bit of research and finding out where properties are cheaper than your area, as well as a little bit of haggling with the landlord in charge of the building you’re considering moving into, will definitely help you here.
“Moving would be something you’d want to consider during the pandemic, but not at the cost of impacting your lifestyle too much,” says Venkatesh. “Of course, if your lifestyle is too lavish, then you need to cut back on that first, but rent is one of the few fixed payments – along with utilities – that we need to pay every month. So if you can reduce that, then it will surely help you.”
Postpone spending on luxury goods
Many people have cut back on luxury expenses during the pandemic, primarily out of necessity or circumstance. Despite many stores having slashed prices to attract customers, people are advised not to splash the cash on expensive items right now.
“Harsh economic conditions always give us an opportunity to learn better and optimised financial management,” says Biyani. “A sort of analysis must be adopted by people during the pandemic-hit economic situation we’re all experiencing so that we can manage our personal finances.”
Venkatesh adds, “When I refer here to luxury items, I don’t refer to only items used primarily for leisure, such as a TV or an iPad, but also more functional ones such as a microwave or washing machine. Of course, if you have something that needs to be replaced, by all means, do, but I would also recommend looking at items being sold by people who want to sell their goods on online marketplaces.”
Buy groceries available
on offer
Many supermarkets regularly have promotional offers these days to boost sales during the uncertain times of the pandemic. Basic goods that are needed on a day-to-day basis can of course be bought as and when needed, but it is advisable to wait for discounts to buy consumables that are used less often. “Existing personal expenses need to be rationalised on the basis of needs, during a time such as this,” explains Sarweshwar Biyani. “Remember that the greatest opportunities often come from adversity.”
“There are a lot of promotions offered both online and in-store,” advises Venkatesh. “Right now, it is extremely important to get maximum value for your money. Don’t compromise on quality, though: you don’t want to fall sick just because you bought the cheaper item.”
