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Added on the 09/04/2020 23:07:11 - Copyright : Euronews EN
Business Insider contributor Jackie Lam says she took an unconventional approach to building her emergency fund. Wasting no time, the minute she got her first, tiny, rented apartment, she began saving towards her goal of $5,000. And she got there fast, by 'glamping' in her apartment. For the first few months of residency, she ate and slept on the floor. Later, her mattress and box spring came from IKEA. It took her three years to finally buy a used loveseat off Craigslist. The rest of her furniture was lovingly hand-picked from the curb. Lam kept her grocery bill down to $25 a week by planning menus based on sales. By using Christmas LED lights and candles, spent $15 a month on electricity. She kept her car in great shape by biking, walking, and taking the bus everywhere she could. And guess what? She hit her target in just a year!
JOHANNES EISELE/AFP/Getty Images US stocks wavered on Friday as new commentary from the White House cut into hopes for pre-election stimulus. While House Speaker Nancy Pelosi indicated a bill could still be approved before Election Day, Treasury Secretary Steven Mnuchin noted that "significant differences" remain between each side's respective proposals. The tepid session led the S&P 500 to post its first weekly loss in three weeks. Oil sank after Libya announced it will lift production. West Texas Intermediate crude sank as much as 2.6% to $39.57 per barrel.
Business Insider contributor Bethany McCamish's aunt is super-smart with money. Now, she wants to share her aunt's simple technique for amassing bucks. McCamish admits she approached building her own emergency savings account by trying to save 'whatever was left' at the end of the month. Years of using that technique presented irrefutable evidence: it doesn't work. At all. Ever. Finally, she tried her aunt's technique. She wrote a check to her savings account just like she paid any other bill, no matter what. Her aunt now has a $45,000 emergency fund, a fully funded IRA and ROTH-IRA, a 401(k), and a pension fund. Now 62, she can retire comfortably. Think of yourself as an investment, and this means saving first. Kathy McGlaughlin
EU Council president Charles Michel proposes to set up a five billion euro reserve fund for any "unforeseen consequences" of Brexit on bloc member states. SOUNDBITE
The US House of Representatives passes a roughly $8 billion emergency funding bill to fight the coronavirus that has been spreading throughout the United States, hours after Congressional leaders finished ironing out terms of the deal. IMAGES
Ministers from G7 top economies on Thursday reached consensus on steps towards an accord on taxing digital giants, an issue that has divided the United States and its allies Britain and France. French Finance Minister Bruno Le Maire, who hosted the two-day meeting in Chantilly outside Paris, hailed the consensus as 'a major step forward'. SOUNDBITE
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