Because of the recent events following the circumstances related to the Pandemic, unemployment rates have been rising and people’s savings decreasing.
It’s not uncommon to hear people get a reduction in salary rates, or worse, even lose their jobs. As a consequence, many have been slowly adjusting to live with the new normal and learn to budget their existing savings and weigh in priorities. Now, more often than not, many can differentiate needs from wants.
Although it took an entire pandemic to make us realize, Here and now, we see that informed and rational budgeting leads to better, more effective, and quicker savings.