Tuesday 17 March 2020

Choppy Savings Ahead

So, with the current state of the economy and the markets, I am forced to make some changes to my long-term savings.

With the rates that I was being offered being insulting, as in close to zero, due to the fact that the prime rate tanked, I have been forced to rethink how I save my money.

I am still saving, but investments are more volatile by their very nature than a good old savings account.

So, this kinda throws a wrench into the whole “posting up a percentage of my savings target” thing.

I am still committed to saving and I still have a number, and I could still post that percentage each payday, but that number would swing wildly.

Why? Well, it would be a reading of what the value of my investments were at that particular moment. The next moment the value would shift . . . again.

I will see how things go but the one thing that won’t change is that I won’t stop saving. I am just not sure the best way forward, or how to report that progress.

As always: Keep your head up, your attitude positive, and keep moving forward!

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