How to Prepare for Investing II: Start Saving
New Orleans Firemen's Federal Credit Union | April 14, 2021
1. Follow the “50/30/20 Rule” for your income: 50% for necessities, 30% for non-essentials and 20% for savings.
2. Put away 3 to 6 months’ worth of living expenses in case of sudden unemployment or other hardship.
3. Build up cash reserves for large, unexpected expenses.