6 Types of Budgets and How to Choose
In hindsight, it makes sense that at the height of the COVID-19 pandemic Americans hoarded more money than ever. In fact, the U.S. Bureau of Economic Analysis (BEA) reported that the personal savings rate hit a historic 33% in April 2020. That does check out between shutdowns and stimulus checks. However, that trend was unlikely to continue. BEA actually notes thatpersonal income decreased by $216.2 billion (1.0 percent) in September 2021. Again, that makes sense as businesses have reopened and there has been a decrease in government spending. While understandable, this is still should raise c...