The coronavirus pandemic and its economic effects have forced pretty much everyone to take a closer look at, and generally be more familiar with, their pocketbooks.
These days, many are going to great lengths to stretch dollars, especially those who have found themselves out of a job as a result of the virus. But, for as many financial challenges as the pandemic has posed, it has also forced many of us to think more critically about our personal finances, maybe underscoring the need to have money put away in more than one account, or pushing us to face some hard truths about our spending and saving habits or what we have or haven’t done to plan for the long-term.
Several of these lessons are detailed in a recent Wall Street Journal article, but we wanted to hear from AirTalk listeners about what they’re discovering about their own spending, saving and financial planning habits.
What are some of the lessons you’ve learned about personal finance during the pandemic? Maybe it’s a lesson about how much you really need to save, maybe you have a better idea of the number of your cost of living, or maybe it’s more long term about what you need to be putting away for savings and/or retirement? Have your spending and saving habits? Are there financial practices you’re employing now that you wouldn’t have considered before the pandemic? Join our live conversation by calling 866-583-5722.
Delia Fernandez, fee-only certified financial planner and investment advisor with Fernandez Financial Advisory, LLC in Los Alamitos