“Those who are currently employed should act as if they won’t be tomorrow.”
Great advice, but it has become difficult to follow as stagnant wages meet inflation. Whatever Americans could put aside from their paychecks 3 years ago would be needed just to buy the same necessities you only needed 80% of your check for back then.
>>“Those who are currently employed should act as if they won’t be tomorrow.”
Great advice, but it has become difficult to follow as stagnant wages meet inflation. <<
Up until very recently, inflation has been pretty tame — less than 3% http://www.inflationdata.com/inflation/inflation_rate/currentinflation.asp
But it is more of a philosophy than a planning guide: If there is $5 you can cut by not getting that Starbucks latte and you can toss it into a physical piggy bank or (ironically) a coffee can, that can add up to $100 a month or $1200 a year.