For many Americans this pandemic has forced us to worry about how we are going to pay our bills during these tough times. Not everyone can afford to pay for any emergency, in fact, “40% of Americans can’t come up with $400 in an emergency.” To combat these occurrences, abled Americans should start building up a fund for instances like this. A good amount to start with is 5% of your daily take-home income. That amount varies by person but the genuine consciences is to generate a fund large enough to cover 3 months of expenses. This reserve of money is to serve as a safety net for if God forbid you become unemployed in the future and still need to live your current lifestyle. Now fully-funding this account is not an easy task and will take some time. That is why any amount that you can contribute to this account is crucial. Once you put money into this account it shouldn’t be touched unless you actually need it. Good luck with saving, your future self will thank you!
My Two Cents 