How To Save Money

Saving money during coronavirus pandemic\.

Close watch.

Meanwhile, this morning, the coronavirus pandemic is affecting people's pocketbooks in drastically different ways.

For those who are still working and spending less, a financial advisor told us it might be time to save.

Waay31s sierra phillips is live in huntsville with steps you can take to stay financially stable during this pandemic.

Financial advisor tim randle says right now is the perfect time to start saving money if you can.

He recommends putting aside 5 percent of your paycheck into a savings account.

Then, once that's built up, open a certificate of deposit or c-d account with a bank.

That's a federally insured savings account with a fixed interest rate.

But to get started on saving -- he says if you can take advantage of some of the lack of expenses made during this pandemic.

Of the sudden now, you've got an extra 1200 or you don't have to make an insurance payment this month that found money is a great thing to use to bolster your savings to get it started, to move it along a couple of months, and to use that as a seed to encourage you to get to the next goal.

He also recommends similar routes with your stimulus check.

And he says if you have trouble, meet with an advisor for help, a lot of times they will meet with you for free for your first consultation.

Reporting live in hsv sp waay31 news