I m more focused on saving for a rainy day
When COVID-19 hit and people were suffering job losses en masse, it showed me just how quickly a person s financial situation can change. I took another hard look at my savings goals and realized how important it was to have a robust emergency fund. When the pandemic hit, I decided to focus on saving for a rainy day.
Pre-pandemic, I had been diligently socking away money into a house fund in my Capital One 360 account in the hopes of potentially saving enough for a down payment. I moved the money to a few CDs and laddered them so that the maturity date for each account would be staggered. When all my CDs matured, I let that money sit in my house-savings fund. But I later decided to move that money into an emergency fund. The funds in my house fund alone would cover about five months of my basic living expenses.