If It Hasn't Already, COVID-19 Pandemic Should Change Your Savings Goals
If It Hasn't Already, COVID-19 Pandemic Should Change Your Savings Goals

Traditional personal finance advice about building emergency funds to deal with unexpected expenses, like car repairs or ER visits.

But now, Business Insider reports the novel coronavirus COVID-19 pandemic has turned that on its head.

The economic fallout from the virus is showing that "stable" jobs are illusory.

In particular, freelancers, independent business owners, and non-essential workers should think very seriously about preparing for a complete loss of income.

Remember: if you don't save, you won't have any savings.

Do your best to save a sizable emergency fund in line with your needs.

That's the only way to keep yourself and your loved ones financially safe and secure.