Is 2020 a Good Year to Save Money?

Updated: Nov 6, 2020

As of November 2020 the await for first results of vaccines is increasingly heated rhetoric, it’s a good time to acknowledge some of the mental wellness advice Nature Magazine Report's had published to help us deal with coronavirus pandemic. However we also should recognize rather is 2020 still a good year to save money.

If your connected with us should already know that money, as a concept, has the advantage that the value of all goods and services in an economy can be measured in one unit, all prices are denominated in one currency. As for that it's value can be traced and kept in goods commonly acknowledged as valueble. Below I will be giving you some tips on how to Manage the money you saved in 2020.

1. Check Out Credit Counseling Services

A certified credit counselor can provide you with free or low-cost one-on-one advice, credit counseling is a low-risk option that helps you get a clearer view of your financial situation.

If you're from the US the National Foundation for Credit Counseling (NFCC) is also offering free credit counseling services devoted to assisting people in light of the 2020 pandemic.

2. Fix Your Credit Report

Some of the common mistakes that happen and you can get easly fixed are: Wrong account status; Negative information too old to be reported; Ex-spouses' incorrectly listed on credit card/loan; Wrong account numbers; Credit limits or loan balances not up to date. Then you can take just a few minute for you to fill up the form at and make the request. Be aware of possible delays due to the new debt forbearance options being extended.

3. Build an Emergency Fund

Make decisions that can protect you in tough times and help you grab opportunities in good times. Funds can give you confidence to tackle any of life's unexpected events without adding money worries to your list. In light of an emergency, such as a sudden job loss, car troubles, or unexpected home repairs, such incidences indeed threaten one’s financial wellness, which ultimately induces stress. To avoid any of that you can set a fixed percentage of one’s monthly salary and allocate it to the fund. In order to do so, one must first calculate an approximation of your monthly living expenses as a target.

4. Choose the Right Bank Account

Don’t make it harder by using the wrong type of bank account. Rather it is a savings account; a checking account or a certificate of deposit. Find the best the suits only your main necessities.

5. Join an Online Community

Finding a support group is helpful rather if there are other people going through a similar situation as you. You can join our newsletter, by filling your emailing informantion on the contact list, and keep updated with our support group. Many people also find helpful to share experiences in online forums but be aware of the reliability of it's users. Maybe our comment section will be also helpful for you!

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