Pandemic lesson number one: emergencies happen. Being prepared means having liquid savings. This isn't money that’s tied up in investments, but money in a bank account or credit union. It means that when the chips are down, you can access funds quickly and easily.
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USED IS THE NEW NEW
If it’s good for the planet, it’s generally good for your wallet. When it comes to clothes, that means shopping resale. Get yourself to places like your local consignment or thrift shop instead of buying new. Consign what you’re not wearing, and donate anything you can’t consign.
YOUR NEW SAFETY NET? THE SIDE HUSTLE
Multiple income streams can put you in greater control of your destiny. Having a side hustle (or two) is a way to put extra money in your pocket. On top of that, hustling can keep your skills sharp and grow your network.
SAVE 15 PERCENT OF EVERYTHING
The old rule of retirement saving was simple. All you had to do was sock away 10 percent of everything you made from day one at work until retirement. This way, you’d have enough - along with Social Security - to live comfortably pretty much forever. But we’re living so much longer now that 10 percent just isn’t going to be enough. It’s time to kick things up to 15 percent. Though it's a lot, the good news is that any matching dollars you get from an employer, such as a 401(k), count toward that 15 percent.