A financial planner's 3 pieces of advice for how to save more - Business Insider

Patterson says that automating deposits into savings products is always a good idea, since you're making contributions without even thinking about it. It forces you to "" and therefore not spend money that could be placed in savings. Look for a checking account that can set up a schedule of deposits that can be automatically routed into a savings account.

is another form of automated savings. Your contributions are withdrawn before you receive your paycheck, which helps to ensure that you will actually save that money and not spend it on other things."Due to the economic downturn, Patterson is advising clients to keep a little more cash in their emergency savings than they normally might. This provides more of a cushion should they find themselves unexpectedly furloughed or unemployed.

"While the markets have recovered nicely and hopefully the worst is behind us, I wouldn't be entirely surprised if the market has some more choppy moments before the pandemic runs its course," Patterson says. "Because of this, we will probably continue to drip new lump sums of money into the market versus investing the full sum up front until the pandemic has run its course.

"Obviously there are some people right now that have lost their jobs due to COVID and are just trying to stay afloat and pay all their bills," Patterson explains. "But I think there's also a significant portion of the US population that doesn't have a firm grasp on what they're actually spending their money on ...

Bullshit Insider the only economic uncertainty will result in a vote for Biden. Trump built a strong economy and will do it again.

People should've been doing that

Bit late with unemployment at 8+%

Agree

Always be saving

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