The Richest Man in Babylon
In good times and bad, consistently saving a percentage of your income is a sound financial practice.
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One of the most important steps to become financially sufficient is to set up a realistic budget.
During the COVID-19 pandemic, millions of people have learned to do more with less. Whether you’ve had to bounce back from job loss or spent weeks bouncing off the walls in quarantine, the pandemic experience included valuable lessons about saving money — and better using our savings to protect ourselves and our loved ones. As we approach a post-pandemic reality, these lessons can continue to have a positive impact on our lives and finances.
Americans are saving more these days.1 Especially millennials. We know why to save: For emergencies, for retirement, to afford big-ticket dreams like home ownership or opening a business. But how to save is another matter.