Submitted by Market Crumbs ,
The sudden outbreak of the coronavirus and its effects on the economy, which has ground to a halt, are being felt by just about everyone. Whether you’re an investor who has seen your portfolio take a hit or someone without any investments who has lost a job, the current situation is very difficult for many.
While you can’t go back a month and change your investments to be better positioned or do anything differently to prevent the job you may have lost, you can always find ways to save money or pick up a side hustle to make a few extra bucks.
David Solomon, CEO of Goldman Sachs. Source: CNBC
In uncertain times like these, where the idea of job losses and investment losses is higher than normal, it’s important to make sure you have a “rainy day” fund to be prepared for the worst. While it’s difficult for many to just get by, let alone save, we’ll go through some ways you can begin saving a few extra bucks and even earn some extra cash.
Saving—it’s one of the most difficult parts about being an adult. Surveys have shown about 75% of Americans are living paycheck to paycheck. Even those at the top of the income distribution live paycheck to paycheck. About one in four families earning more than $150,000 live paycheck to paycheck, while one in three earning between $50,000 and $100,000 do so.
While it’s important to save, it’s also important to enjoy yourself and do things. Making small changes to your spending habits can add up. Eliminating small, consistent charges for things such as a coffee at Starbucks everyday or $10 worth of lottery tickets each week adds up. Try packing lunch for work or having a few …
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