A recent report indicates consumers need to concern themselves with saving money, which may be one of the important lessons of the economy’s recent difficulties.
The Dallas Morning News recently spoke to a number of financial experts in order to gauge what some of the most important things people can learn from the recent financial troubles faced by them and the economy. Mike Miller, who is a certified financial planner, told the paper that consumers need to make sure they have funds set aside for emergency situations.
In order to be secure, consumers should have at least three to six months worth of expenses saved up in an account.
“If you are short, you should create a plan to restock your fund as quickly as possible,” Miller told the paper.
Though money is hard to come by, there are a few strategies consumers may try to enact in order to save money. Recent reports have made a number of suggestions, including concentrating on shopping with coupons for everyday expenses. Some consumers may also consider switching to generic brands at the grocery store or reducing their entertainment expenses.