Take steps now to save money past the pandemic

New advice from lays out the best ways for parents to teach their kids how to...
New advice from lays out the best ways for parents to teach their kids how to save money.(
Updated: Jul. 8, 2020 at 8:58 AM CDT
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(KSLA) - Many people have been hit hard financially by the coronavirus — while others have been able to save money despite being punched in the pocketbook by the pandemic.

Whether you’re getting help from your older kids, now at home to pitch in and pay rent, or if you still have an income, reports show a lot of people have been able to save money because they’re not eating out or shopping as much.

There are ways to continue the saving trend even when this crisis is behind us. One report suggests people should consider this a permanent lifestyle change.

  • Try taking a look at your spending habits during the pandemic — it can be eye-opening to see what you can and cannot live without.
  • Reevaluate your savings. If you weren't able to save for an emergency fund before COVID, now's your chance to put money away for a scenario where you desperately need financial help.
  • Also, don’t spend your extra money just to spend money. It’s easy to think you may have earned the opportunity to go on a spending spree for saving so much money during the pandemic. If it’s not a necessary purchase, put that money away so you can count on it when you need it most.

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