As Halloween approaches, it’s not just ghosts and goblins we should be worrying about; financial scares can send shivers down our spines too! Catherine McCall, a financial whiz from CAPTRUST, shares some key tricks and treats to help keep your budget from looking like a scary movie outtake. It turns out that nearly 60% of Americans can’t handle an unexpected $1,000 expense, which is a haunting reality we all need to face!
One of her best pieces of advice? Build up that emergency fund! McCall suggests aiming for about six months’worth of living expenses tucked away for those times when life throws us curveballs—like a surprise car repair or medical bill. It might feel like a daunting task, but every little bit counts. Toss a few bucks here and there—it’ll add up faster than you can say“Happy Halloween!”
And let’s not forget about the debt monsters lurking in our financial shadows. McCall emphasizes the importance of prioritizing and addressing that consumer debt, especially the ones with higher interest rates. Her clever approach might just save you from a financial fright and help you breathe easier. For parents, having frank conversations about school costs and exploring options like 529 plans can make the college journey a lot less terrifying.
So, as you prepare for the trick-or-treaters this year, don’t forget to tackle those financial fears head-on. After all, no one wants their finances to look like a horror show! How do you manage your financial “spooks”?
About the Author
Andrew Johnson
Andrew Johnson is a contributor to LocalBeat, covering local news and community stories.
