- Who is Eligible for a Stimulus Check? - December 30, 2020
- It’s Not There Yet… But the New COVID Relief Could Mean to You - December 23, 2020
- What does the potential elimination of the A.C.A. mean to you? - October 28, 2020
In prior posts, I noted the absolute need for reserves and noted how much in reserve you need. The final question is, “how do you save up that much money?” This is the $64,000 question.
Here is the secret:
Have a fixed amount of each paycheck taken out for savings. Learn to live on what is left over! The government has been doing this for years. It is called withholding on taxes
However, unlike the rest of us, the government can’t seem to live on what is being paid them.
You may have to track your expenses, using a tracker such as Taxbot, to see where you can cut back your spending. such as having your daily latte.
Finally, don’t ever touch the reserve fund unless a legitimate emergency arises for its use such as unemployment, huge repairs etc.
