Reduce your financial anxiety by learning what you can and can’t control
#Save cash now stock marekt how to
Here are some general guidelines (not concrete financial advice) from financial planners and a therapist on how to get you started on maximizing your savings, beginning to think about investing, and calming your financial anxiety. Thankfully, you don’t need to be an expert - or extremely wealthy - to find a reasonable savings account and begin investing. And for people who can save for an emergency fund and invest in the stock market, figuring out where to start can be overwhelming. For some, the economic volatility can be anxiety-inducing. Per the New York Times, the Federal Reserve is planning to raise interest rates again in an attempt to curb inflation. Like Leslie, other people who can now afford to set aside some cash may not know where to put their money to save for emergencies and build a nest egg for the future. A July Next Advisor survey of 1,000 adults found that only 21 percent have a high-yield savings account and 16 percent had certificates of deposit (CDs) or money market accounts (MMAs). If you haven’t begun saving for emergencies or investing for the future, you’re not alone and it’s nothing to be ashamed of, especially if you don’t earn enough to save. After researching online and combing through websites like Nerdwallet to find the right one, she decided to open a high-yield savings account with Ally Bank, because the bank offers a feature that lets users categorize their savings accounts to meet goals such as saving for a new car, she said. Hearing about high-yield savings accounts on social media combined with finally having the stable, livable income to set aside money prompted her to start researching different accounts, she said. “Last year,” she explained, “I got a new job, I had a lot more money than I normally ever had, so I felt like I probably should start doing something with it.” She dropped out of college in her early 20s and had worked various retail and customer service jobs, but she hadn’t learned about credit and had damage to her own, she said. Until 2021, Leslie (who asked that her last name be withheld due to the sensitivity of discussing finances) had not known what a high-yield savings account was. CNN Sans ™ & © 2016 Cable News Network.For Leslie, a 40-year-old first-generation Latina, her inspiration for opening a new high-yield savings account came from Instagram, specifically The Avocado Toast Budget and Delyanne the Money Coach. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account
0 kommentar(er)
