When it comes to investing, many people first think about putting money into the stock market and they immediately feel overwhelmed! But it doesn't have to be that complex. Here are a few simple steps to get started.
When it comes to the question of how much you should be saving each month or what percentage of your budget you should dedicate to savings, there are a few variable to consider.
A. When getting out of debt you want to start by putting aside a small baby fund for emergencies of $500 to $1,000.
Then you want to work your budget and continue to save for annual expenses. This way you don't go into debt for emergencies or events that you knew would be coming up.
But then your focus becomes getting out of debt. By paying off debts with interest rates of 5% and higher, you are actually saving hundreds of dollars each year.
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