Is Saving Pointless?

Zemanta Related Posts ThumbnailRaise your hand if you’ve ever tried to build an emergency fund, then gave up after an unexpected expense drained away everything you managed to save.

If that’s you, then you’re likely part of the 47% of Americans who recently told the Federal Reserve that they wouldn’t be able to pay an unexpected $400 expense without borrowing or selling something. Some said they wouldn’t be able to come up with the money at all.

In my latest for NerdWallet, how your savings is what stands between you and the financial shocks that could send your life into a tailspin.

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Comments

  1. Sandra says:

    To me saving has never been pointless,anything is better than nothing.When I lost my job was able to pay a few bills , buy gas and necessities.I have a friend who never saves and he can’t do any of the things I mentioned

  2. There is a popup that appears when I load this page. It says “Update Profitquery Plugin, Plugin early 4 version was deprecated. you need to install 24 of the Best Free Marketing Tools WordPress plugin.” This has come up twice when I load this page. What is this popup and why is it here?

    • Liz Weston says:

      Not sure, but I think my IT guy fixed it. Let me know if you see it again.

  3. saving needs to be a lifestyle. as the years go by, it becomes easier. in my “early days” post college i was typically weak at saving much. in time this definitely got better. do small things. ~ like don’t buy what you can’t pay for; but also when paying bills always pay over the minimum. the car payment – pay even $50 more. the house payment, pay $150 more. the CC payment, pay off the bill AND throw another hundred toward next months likely bill.