If You're Lucky Enough To Be Able To Save Money, Now's The Time To Do It
- 4 years ago
If you've managed to avoid the economic carnage that is America today, Business Insider reports that now is a great time to save.
However, financial experts underscore that it's completely fine to put your savings plan to one side if you've been let go or have lost your business.
If you can save, examine your budget closely. Can you cut a bit deeper? Renegotiate phone and TV service rates, and shop around for cheaper insurance.
While saving 10% of take-home pay is best in normal times, these are clearly not normal times. Now, shoot for 20%.
Build an emergency fund first, then automate. Make extra money through side hustles, and see if your employer has a matching program. Good luck!
However, financial experts underscore that it's completely fine to put your savings plan to one side if you've been let go or have lost your business.
If you can save, examine your budget closely. Can you cut a bit deeper? Renegotiate phone and TV service rates, and shop around for cheaper insurance.
While saving 10% of take-home pay is best in normal times, these are clearly not normal times. Now, shoot for 20%.
Build an emergency fund first, then automate. Make extra money through side hustles, and see if your employer has a matching program. Good luck!