Regardless of the size of expense, these events must be accounted for, as they are likely to happen at some point in the future. Unexpected costs-whether they arise from something as simple as breaking your cell phone, or as significant as a sudden death-are part of life. Life happens, and rarely at a convenient time. Best Places To Keep Your Emergency Fund.What Is A Savings Account And How Does It Work?.Reflecting the unevenness of the pandemic’s economic effects, the same survey indicated 38% of respondents aim to save more in 2021. personal saving rate hit an all-time high in April, 43% of Americans saved less than they expected, according to a recent Bank of America survey. Because of this, many Americans’ personal finance goals were halted or delayed. In the U.S., Covid-19 has caused economic shockwaves that resulted in massive job loss and economic hardship for millions. We never imagined the last 12 months would unfold the way they have during the coronavirus pandemic. To plan for the unknown means making strategic moves in advance so that when the unexpected occurs, you can quickly pivot. Predicting the unexpected is impossible, but preparing for future events is something more within your control. Today’s theme is: Save for the Unexpected. Since 2007, this initiative has provided a call to action for U.S. This story is part of a series in support of America Saves Week 2021.
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