15 Personal-Finance Lessons We Can All Learn From the Year of Covid-19

  • 📰 WSJ
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

You really do have to plan for emergencies. Here are other lessons we heard about when we asked financial advisers to reflect on the past year.

Among them: You really do have to plan for emergencies, and your personal-finance decisions don’t exist in a vacuumWith 2020 in the rearview mirror, and the end of the pandemic in sight, there’s a lot of economic damage to be assessed. But there are also a lot of personal-finance lessons we can learn—lessons that will put us in good stead, whatever the economic future holds.

Lessons about the importance of emergency funds and having different income streams. Lessons about how this time reallyThese are some of the lessons we heard about when we asked financial advisers and others to reflect on the past year. It was a year, no doubt, that many people would prefer to forget. But before we try to wipe those memories clean, here are some of the things that investors, savers and spenders would do well to remember.

While an emergency fund cannot make up for losing your job and facing long-term unemployment, it can help to reduce the impact of shorter-term economic disruptions. For instance, last year many households had members who were furloughed for several weeks while governments had mandated closures of their employers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

CLourosa Invested in 99% of not being Fatal SOUNDS LIKE A CON....

CLourosa Really? You just figured this out?

CLourosa Very good

Is one of them “move to a country with a higher minimum wage”?

Good personal finance for individuals should apply to those managing other's personal finance.

By breaking BILLYS and making us milly's Is this how professional financial planners do it

Fuck you GME AMC to the fucking moon

The first and foremost, don’t ever never trust robin-hood😂😂😂😂😂

this is terrible news

F**k planning, get a bailout, like the big corporations.

I have a favorite scientist and it's not Albert Einstein. Do you still have his brain?

If only corporations planned for emergencies, instead of using our tax dollars as their piggy bank. They break our bank at any hint of catastrophe.

Planning? Emergencies? How do you 'plan' for a sociopath political class/media willing to shut down entire economies indefinitely, ruin the lives of millions, oh and incite riots arson and murder throughout the country just to increase their chances at the next election? How?

I think we're all still learning.

Bella

No. You need to yolo your savings into meme stocks 🚀.

Why was Trump banned?

Rule number 17. I should not have to make an account just to read the article 😡

Rule number 16: Pay attention to DrCopper.

I'm responsible and I'm ok with that.

this is terrible news

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in BUSİNESS

Business Business Latest News, Business Business Headlines