Make the most of your money.
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With the economy in a downturn and the holidays coming up, everyone could use extra cash in the bank. There are two main ways to make that happen:
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There's no doubt: the economy has taken a hard hit recently, with it being revealed by economists that a recession in the United States actually began back in February, slightly ahead of the COVID-19 pandemic, and is likely already over. Though recessions and the factors associated with them often vary, there are always steps to take and knowledge to have to ensure your finances stay secure, when the economy is anything but.
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Emergency fund, safety net, cushion. Call it whatever you want, it's there to break your fall in a worst-case scenario, and it needs to be padded.
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The COVID-19 pandemic is unlike any event in the past 100 years. During the process of "flattening the curve," the economy has essentially halted. While homebound, we're left with endless reels of fear-inducing information at our fingertips, causing moments of panic and grief, shock and horror.
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According to a study conducted by Worthy, in partnership with the Association of Divorce Financial Planners and Laurie Itkin, author of Every Woman Should Know Her Options, 48% of women said they were met with financial surprises once their divorce was finalized.
