I'm spending less by staying home, and I've found 3 ways to use that extra cash to protect myself and my community during the pandemic

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The author is not pictured.

• My income hasn't been dramatically reduced by the coronavirus pandemic, and I'm spending less by staying home.
• I decided to use Sen. Elizabeth Warren's 50/30/20 method to decide how to use my extra cash.
• I'm spending 50% to help pay for my upcoming move, I'm donating 30% to coronavirus-related causes, and I'm saving 20% for any unexpected future expenses.
• Read more personal finance coverage.

Like many people, I've been worried about how my finances are going to be impacted by the coronavirus. To make myself feel more secure, I took the time to redo my budget when it became clear that my state's stay-at-home order was going to be in place for the long haul.

In the process, I found out something interesting: I've got more money than usual leftover at the end of the month.

The excess comes mainly from my discretionary spending. After all, since the order was put in place, I haven't had much occasion to spend money. I haven't been going out with friends or taking Ubers, and the trip to Puerto Rico I was planning has been cancelled.

When it came time for me to figure out how to allocate that extra money in my budget, I knew that I had to be smart about it, so I decided to use the 50/30/20 budgeting method to help guide my choices.

What is the 50/30/20 method?

The 50/30/20 method is a budgeting technique. It comes from one of my favorite personal finance books, "All Your Worth: The Ultimate Lifetime Money Plan." The book was written by Sen. Elizabeth Warren and her daughter, Amelia Warren Tyagi, and it's full of practical advice.

Their method suggests that you allocate 50% of your budget towards your needs, or things like housing, groceries, and transportation costs. Then, 30% of your income should go towards your "wants," like going out to eat or entertainment costs. The last 20% of your income should either be saved or put towards paying down debt.

While I had to tweak the method a little bit to suit my financial priorities right now, I'm still using the basic concept to guide where my money is going.

I'm using 50% to cover an upcoming need

Coronavirus aside, I'm in the process of buying a house right now and my lease is coming to an end. When I settle on the property at the end of April, I'm going to need to move, despite the stay-at-home order. As anyone who's ever been through the process knows, the costs of moving can add up very quickly.

Luckily, moving is considered an essential activity in my city, so I was still able to hire some help for my actual moving day. However, in addition to those fees, there are some extra virus-related costs I have to consider.

The American Moving & Storage Association (ASMA) has recommended against reusing boxes from stores. Apparently, the virus can live on cardboard for up to three days, so I'm buying all my packing materials fresh.

The ASMA also suggests providing sanitizing supplies and protective gear for my movers to use while they're moving me in. Of course, I want everyone to be as safe as possible, so I'm making sure to purchase those as well.

I'm donating 30% to coronavirus-related causes

The next 30% of my excess income is going to charities aimed at helping those who have been hit hardest by the coronavirus. In times like these, I feel like everyone needs to come together and help in any way they can.

For me, since I'm not a doctor, I don't have access to PPE, and I would have no idea how to even begin sewing masks, that means donating money whenever I can. So far, I've donated to an organization that provides meals to those in need in my community and to one of my local hospitals.

That said, I plan to continue donating for as long as this pandemic is going on. (If you know of a great organization that needs help, feel free to reach out to me on Twitter.)

I'm saving the last 20% for the unexpected

The last 20% of the money I'm saving from not going out is getting put directly into my emergency fund. As a freelancer whose income is inconsistent, I have no idea what effect the virus will have on my workload. So far, I've been fortunate enough that my income hasn't taken too big of a hit, but I know that can change at any time.

Even though I've already worked some pretty aggressive savings goals into my budget, it makes me feel better to know that I'm planning for whatever comes next.

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Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email covidtips@businessinsider.com and tell us your story.

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