8 Financial Tips Every Senior Should Know

You should know your ‘number’

In case of an emergency, whether we are talking about spontaneous medical check-ups or car problems, it is ideal for everyone to have some money to cover all or just a part of the expenses. 

“Everyone knows they should be saving more money but that’s where they get stuck,” she says. “The trick is to know your ‘number.'” So, it means that you should save the amount of money that you’d normally spend in six months so that you can cover your expenses in half a year in case of an emergency like the world is experiencing now with the coronavirus pandemic.

Thus, all you have to do is to create a plan and count all your expenses, and then try to find a good strategy to help you save a part of the money that you earn monthly. You should keep up the good work until it becomes a habit and you will save the desired amount.