Saving cash isn't about the amount. It's about habits
Furloughed federal workers are about to miss their second paycheck. As the shutdown goes on, they're turning to their savings accounts and credit card to make ends meet and are likely feeling financially unstable.
Savings is a way to ensure good financial stability, but how much savings is enough? Where should that savings live? And why is it so difficult to save in the first place?
MPR News host Angela Davis talked to two guests who will, hopefully, help soothe your financial anxiety. They dispense practical advice on saving money.
Guests:
Create a More Connected Minnesota
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Ross Levin is the CEO and founder of Accredited Investors and Wealth Management. He also writes a column in the Star Tribune.
Sharon Powell is an extension educator in family resiliency. She works with consumers on budgeting and credit debt management.
Here are some helpful links provided by Powell:
Spending and saving tips from the University of Minnesota Extension.
Lending Circles credit program.
Minnesota Credit Union Network WINcentive Savings program.
You Claim It, an Earned Income Tax Credit awareness program.
Use the audio player above to listen to the program.