Chris Strong
speaker
20 appearances
1 recordings
1 series
first heard Oct 2020
last heard Oct 2020
Chris Strong’s voice in public audio — every appearance, attributed to the second.
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Appearances
I had started off 2019, just moved out of my parents' house.
I was living by myself.
I was paying for rent.
I was paying for a car.
And I didn't really have much savings.
You know, I love to travel.
So I found myself saving to take trips, but I became more interested in personal finance.
And I started seeing all these rules around the Internet saying, you know, you should have three months or six months, 12 months.
Some people have even more than that.
And I took a look at my finances and all I had were some savings for, you know, renter's insurance or anything else along the way that I might need to pay for.
But I did not have any long term savings.
So actually towards the end of 2019 and before the pandemic, I set that for one of my goals for 2020 to build up my emergency savings in the unfortunate event that if I did lose my job, I wouldn't be reeling and financially in a bad spot.
I was.
I started off the beginning of the forbearance period actually paying a little bit extra on my student loans for a couple of months.
And just due to the nature of the situation and all the different bits of financial advice flying around out there, I started to actually sock away some of that money after making those extra payments, just based on the advice that something like this would likely never happen again in the next probably seven or eight years left that I had to pay down my student loans.
I would say you never know what you don't know.
You never know what's going to happen in the future.
You may think that you're bringing in enough income to cover whatever may be thrown at you, but that's the nature of these things.
You don't know what is going to come.
So I would advise that whether you're making $300,000 a year or $50,000 a year, set aside
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