If It Hasn't Already, COVID-19 Pandemic Should Change Your Savings Goals

Published on 28 May 2020, 0:19
Traditional personal finance advice about building emergency funds to deal with unexpected expenses, like car repairs or ER visits.
But now, Business Insider reports the novel coronavirus COVID-19 pandemic has turned that on its head.
The economic fallout from the virus is showing that "stable" jobs are illusory.
In particular, freelancers, independent business owners, and non-essential workers should think very seriously about preparing for a complete loss of income.
Remember: if you don't save, you won't have any savings. Do your best to save a sizable emergency fund in line with your needs.
That's the only way to keep yourself and your loved ones financially safe and secure.

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