To meet their new goal, Bethune, a 37-year-old cybersecurity engineer, and Colon, a 34-year-old mental health counselor, would have to save $30,000 and $22,000, respectively.
Living affordably is a big part of their savings strategy, and has allowed them to save aggressively. The couple lives in a modest one-bedroom apartment, spending about $1,200 in rent each month. Since they own their cars outright, their only other major expense is Colon's student loans, which total about $600 per month. With low expenses, they were able to save for other goals on top of their emergency fund.
A method championed by "I Will Teach You To Be Rich," sending money automatically to savings and goals, makes for a hands-off approach. "You're accumulating money by default," author Sethi writes. Before automatic deposits, Bethune found it hard to be consistent with his savings goals. "It would be kind of haphazard and I wouldn't keep up with it," he said. With automatic deposits, it's impossible to forget.For this couple, saving an emergency fund was a balancing act with their other financial goals.
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:
'Pay yourself first'
Error 404?
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Biden's Instagram influencer strategy, virtual campaign - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Great Twitter Numbers One Two Three Four Five Six Seven Eight Nine Ten Eleven Twelve Thirteen Fourteen Fifteen Sixteen Seventeen Eighteen Nineteen Twenty. BIDEN=CHILD ABUSER 😤😠
Source: BusinessInsider - 🏆 729. / 51 Read more »
30 quotes that take you inside Albert Einstein's brilliant mind - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Einstein had a brilliant mind but also had a set of brilliant Maths Proffs on his team, Einstein had a vision and an idea and would get the maths worked out with his team of Maths Proffessors.
Source: BusinessInsider - 🏆 729. / 51 Read more »
5 foolproof ways to build an emergency savings fund - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. want a fullproof... not in fiat for sure Do a treasure hunt and collect all the loose change in your home, car, backpack, purse, etc. Every little bit helps ❤️💙
Source: BusinessInsider - 🏆 729. / 51 Read more »
JetBlue adds new routes, plus business class at Newark - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »