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Unfortunately for Gen X and Millennials, this is far from their first rodeo of economic hardship.
But this would be a first time for Zoomers, though theyve weathered a slew of other unprecedented events.
While its easy to be afraid,its smarter to be prepared.
Products likehigh-yield savings accountsand CDs offer a rare mix of stability and meaningful return, he said.
In times like these, liquidity and security are especially important.
Cash savings can be a port in the storm.
Instead of getting coffee out everyday, try cutting back to a few times per week.
If you are able to do so, consider finding ways to reduce spending wherever possible.
Being intentional about spending also involves making small, creative changes to your online shopping strategy.
Set one day of the week as your designated shopping day.
This makes the process of saving an out-of-sight, out-of-mind endeavor.
Dont stress about starting small.
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