| | | | | Hi there!
When we launched NextAdvisor in June, it was clear the pandemic and recession would change the rules of personal finance in big ways. While the scope of the damage to the economy — long-term unemployment and income loss for millions — wasn't perfectly clear, we knew many would be in for a tough year. Meanwhile, historic low interest rates for borrowers and stock market highs for investors presented opportunity for many others.
This has been an unimaginably difficult time. But you, our readers, have been resilient. We've been inspired by your own stories of adapting to these circumstances and applying new money tactics to your lives. (If we had a dollar for every time we heard the phrase "emergency fund," well, we'd have a very healthy emergency fund.)
Now that it's the end of the year, our writers and editors are reflecting on what we've learned and want to share some new practices we're bringing into 2021, in the hope you might find some commonalities or guidance to apply to your own lives. | | | |
 |
| | | THE GUIDE | Our Top Money Lessons of 2020
| Some of the traditional money rules all but vanished this year — and that was a good thing. Writer Alex Gailey took advantage of the pause on student loan payments and saved that money in an emergency fund instead. After reading a NextAdvisor story about the benefits of high-yield savings accounts, senior editor Alberto Riva opened one of his own. Editor-in-chief Adam Auriemma took advice from Delyanne Barros and set up spending alerts on his credit cards. "I get an email every time I buy something now, and it keeps me honest," Auriemma says. "I also get emails when unexpected charges hit — like subscriptions I forgot I had, or free trials I forgot to cancel. When those things happen, I can immediately unsubscribe."
Meanwhile, writer Taylor Moore began thinking about how buying a home in the next decade can actually be achievable by saving diligently and taking advantage of first-time buyer programs. And after years of contributing to employer-provided 401(k) accounts, editorial director John Puterbaugh went full steam ahead and embraced a Roth IRA, thanks to contributor and self-proclaimed "Roth activist" Rebecka Zavaleta, who wrote about the benefits of the retirement account. | | | | | | |
 |
| | | THE BOTTOM LINE | There's always something more to learn. But for now, focus on the fact that you made it through this year. That alone is something to celebrate.
| More soon,
The NextAdvisor Team | | | |
 |
| | | | | Did your financially savvy friend forward this to you? Subscribe to get our next newsletter directly in your inbox. | | | | | | |  | | | | Your next move |  | Follow us on social media for more
great tips like these. | | | | | |  | | |
No comments:
Post a Comment