ALLAN GRAY – How to plan for an emergency fund in 2023
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GUEST – Gladness Rupare - Investment specialist at Allan Gray
The New York Times recently reported that a growing number of workers are getting access to a new job benefit: help with saving for unexpected expenses. The financial stress on workers brought about by both the pandemic and rising inflation, as well as employers’ need to attract employees in a competitive job market, is making rainy-day savings a hot job perk, with companies like Starbucks announcing emergency savings options for workers. But if you don’t have access to such a perk, what is the best way to plan for an emergency fund? How much should you set aside, and how can you ensure your money grows in a high inflationary environment?
The New York Times recently reported that a growing number of workers are getting access to a new job benefit: help with saving for unexpected expenses. The financial stress on workers brought about by both the pandemic and rising inflation, as well as employers’ need to attract employees in a competitive job market, is making rainy-day savings a hot job perk, with companies like Starbucks announcing emergency savings options for workers. But if you don’t have access to such a perk, what is the best way to plan for an emergency fund? How much should you set aside, and how can you ensure your money grows in a high inflationary environment?