The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
  • Books
  • Categories
  • Coaching
  • Book Lynnette
  • Money Coach University™
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • Submit an Article
No Result
View All Result
The Money Coach
No Result
View All Result

COVID-19: Why Saving Should Be Your Top Priority

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Budgeting, Covid-19, Covid-19 Video
Reading Time: 2 mins read
Saving - Lynnette Khalfani-Cox
12
SHARES
192
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Lynnette Khalfani-Cox, The Money Coach explains why despite the impact of COVID-19 on your finances you still need to find a way to save money for future emergencies and goals.

Transcript

Lynnette Khalfani Cox: Saving money is definitely hard these days, but you still got to do it. Let me tell you guys about why it’s important for you to save through good and bad times.

First of all, as the coronavirus outbreak has shown us, something always goes wrong. Any time you have some extra cash on hand, you’ll be better prepared to deal with an emergency any kind of an emergency, whether that’s a man made, or a natural disaster or something else.

Also, having some extra cash in the bank gives you options. It gives you flexibility in terms of your choices.

You should know by now of course that if you have a job, for example. This is even before coronavirus. If you have a job, for example, that you’re really not feeling and you’re not enjoying yourself. You’re not compensated the way that you want to be or should be. If you have some extra savings set aside, that might give you some options to quit that job or to pursue other options that might be better suited for you.

Another reason you should always think about having some savings is to reach your goals. Usually the things that we want to achieve in life have a price tag attached to them.

Maybe you want to buy a house. Maybe you want a second house or some investment property. Maybe you want to buy a new car. Maybe you want to pay for your kid’s college education. Whatever the future goal, again, there’s a price tag attached to it.

I want to encourage you guys, even during these tough times, to not forget about savings. Savings should actually be one budget category that you track and monitor every single month. I don’t care how much or how little it is. The key point is that you’re disciplined and consistent in savings.

If you can only save $25 a month, great, make it $25. Maybe you can save $50, even better. Whatever the number is, $50, $500, it doesn’t matter. The key is save a little something each and every month.

Tags: Emergency fundRainy day fund
Previous Post

Are You Eligible for Student Loan Relief Under The CARES Act?

Next Post

Student Loan Relief: FAQs About Student Loan Provisions in the CARES Act

Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach, is a renowned financial expert, author, speaker, and media personality, empowering people to achieve financial success.

Related Posts

mixed race senior citizens reviewing budget

Budgeting for Senior Citizens: How to Live Well on a Fixed Income

by AskTheMoneyCoach

As we age, managing finances becomes increasingly important, especially when living on a fixed income. It's crucial to budget wisely to maintain a comfortable lifestyle in your senior years. Here, we share some essential tips for senior citizens to live well within their means. Reduce Expenses One of the primary...

4 Budgeting Mistakes That Are Easy to Avoid

by Lynnette Khalfani-Cox, The Money Coach

Even though people are watching their dollars right now because of inflation, there are a host of financial budgeting mistakes you can easily avoid. Here are four budgeting blunders to sidestep anytime you’re watching your finances.

CARES 2

CARES ACT 2: New Coronavirus Relief Bill Offers More Stimulus Checks

by Lynnette Khalfani-Cox, The Money Coach

BREAKING: The Senate finally reached a deal on a $900 billion Coronavirus relief bill. Here's a quick snapshot of what it includes and how much money it means for you: - Survival checks / Stimulus Checks: $600 per adult + $600 per dependent, including those in "mixed status" families (i.e....

CARES Act: Student Loan Relief

Get Your Employer to Pay $5,250 of Your Student Loans in 2020: FAQs About the CARES Act

by Lynnette Khalfani-Cox, The Money Coach

I recently posted a student loan tip on social media that went crazy viral! It racked up tons of traditional media coverage, plus many thousands of likes and shares (not to mention comments and questions!) across Twitter, Facebook and Instagram -- far more than any other single post I've shared....

Financial Truths

7 Painful Financial Truths You Need to Accept in the Age of Coronavirus

by Guest Blogger

The COVID-19 outbreak is causing people to make tough choices regarding their finances. Are you in this boat? If so, you likely have to accept some unpopular truths to weather the storm of these uncertain times.  Here are some hard, but necessary financial truths that you need to consider as...

emergency fund

How Much Do I Need in My Emergency Fund During COVID-19

by Lynnette Khalfani-Cox, The Money Coach

According to a Bankrate survey, 23 percent of respondents said their biggest financial regret is not having enough money in their emergency savings to withstand the COVID-19 outbreak. The coronavirus pandemic has impacted the financial standing of many Americans. While jobless claims have fallen since late March, nearly 18 million...

What to Do If You Can No Longer Afford to Pay for College Due to COVID-19

by Lynnette Khalfani-Cox, The Money Coach

If you are struggling to pay for college due to COVID-19, all hope is not lost. There are steps you can take to still pay for college: 

Load More

Popular Posts

  • Car repair

    What to Do If You Can’t Afford a Car Repair Bill

    1534 shares
    Share 614 Tweet 384
  • What to Do if Your Spouse Stole Money From You

    1316 shares
    Share 526 Tweet 329
  • What to Do If You Can’t Afford to Leave Your Spouse

    1283 shares
    Share 513 Tweet 321
  • Here’s Why I Pay My Kids For Good Grades (And Maybe You Should Too)

    1134 shares
    Share 453 Tweet 283
  • What Do All Those Strange Codes In My Credit Report Mean?

    903 shares
    Share 361 Tweet 226
  • Which Credit Report is More Important: Equifax, Experian or TransUnion?

    875 shares
    Share 350 Tweet 219
  • Do This Now If Your Wages Were Not Reported

    857 shares
    Share 342 Tweet 214

Categories

  • Bankruptcy
  • Budgeting
  • Building Wealth
  • Careers
  • Couples and Money
  • Coupons and Deals
  • Covid-19
  • Covid-19 Video
  • Credit Cards
  • Credit Reports
  • Credit Scores
  • Crypto
  • Debt
  • Entrepreneurship
  • Family Finances
  • Featured
  • Identity Theft
  • Insurance
  • Investing
  • Loans
  • Paying for College
  • Personal Finance
  • Press Releases
  • Real Estate
  • Retirement
  • Saving Money
  • Scams
  • Student Loans
  • Taxes
  • Uncategorized

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

RSS / Sitemap /Submit an Article / Privacy Policy / LynnetteKhalfaniCox.com

No Result
View All Result
  • Books
  • Categories
  • Contact Lynnette
  • Get Coaching
  • Book Lynnette
  • Money Coach University™
  • Home
  • Subscribe to Newsletter
  • Submit an Article

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist