Tips: Save money during the pandemic | KOB 4

Tips: Save money during the pandemic

Grace Reader
Updated: July 28, 2020 05:14 PM
Created: July 28, 2020 02:48 PM

ALBUQUERQUE, N.M.- Congress is butting heads about the best way to get Americans financial relief during the pandemic.

While Americans wait, Dr. Reilly White, an associate professor of finance at UNM, said people can start taking a close look at their budget.

"One of the things that's come up very recently that people have no idea they're spending so much on are subscriptions for entertainment," White said.

White added that people should take advantage of some of the positive financial opportunities the pandemic has created.

"For homeowners, homeowners who might be getting by or worried about some vulnerability on their income side, mortgage rates are very, very low," he said. "It could be a good time for you to refinance."

Finally, White recommends that people take a good look at where they are saving money.

"One thing I would investigate is how much you're earning on that money," he said. "We know that checking and savings accounts offer very little in the way of interest payments. Explore money market accounts, certificates of deposit, other safe places."

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