Money Matters With Greg Blog

If the Coronavirus’ effect on the markets has taught us anything, it’s that every single person reading
this should start the process of creating an emergency fund. This is not just an idea, nor is it a savings
account, but rather, it is a separate pool of money to only use in emergencies. So, how do you even start

Our everyday lives have changed dramatically over the last few weeks as we work together to minimize the impact of the COVID-19 pandemic. We know these efforts are necessary, but they also have come at a cost.

Fears over the spread of COVID-19 (coronavirus) have gripped the country and sent stocks in the US and around the world into bear markets. Thursday’s nearly 10% decline in the S&P 500 Index was one of its worst days in history and the largest one-day percent decline since the 1987 crash.

My father used to always say when you needed to clear your head, get blank piece paper and a pen.  Odd you say? Trust me, when I was a kid and he said it, I thought he was just crazy and old, and of course, knew nothing. I was such a stupid kid.

The tough times that global markets were experiencing due to the spread of COVID-19 (coronavirus) worsened this past weekend as a price war between Saudi Arabia and Russia resulted in sharply declining oil prices. This combination of events is testing investors’ patience.

It’s been a tough week. 

This is taken from our great research department @LPLResearch:

We all have our own unique way of handling our finances. While some of us are natural born savers, others may have a hard time making it to the next paycheck. Fortunately, most of us fall somewhere in-between, putting away money at times, while making frivolous purchases at other times.

We all have our own unique relationship with money. We certainly have our own unique way of both spending and saving money.

However, if you’re ready to start putting some money aside, or looking for tips on money management, or even the best way to pay your bills, the following tips may provide a little bit of help: