Saving Money is a Privilege

There is a ton of personal finance advice out there from a bunch of people who call themselves experts. Live below your means. Put extra money into an emergency fund. Save for retirement in your company’s 401(k), and make sure you’re taking advantage of their match. Invest in index funds rather than individual stocks or actively-managed mutual funds. When you get a raise, don’t fall victim to lifestyle creep — use that extra money for savings or retirement. So much of this advice is centered around saving money — whether it’s in an emergency fund, a 401(k), an IRA, or a taxable investment account. These savings are more important than anything else — if you don’t have savings, you need to skip eating out, ditch the daily latte, and just say no to avocado toast. <a href="https://medium.com/thing-a-day/saving-money-is-a-privilege-2c915a1b5432">Read More</a>