Question

After the 2008 economic meltdown, finances were very uncertain, making saving money extremely important. To help with this, certain rates were changed which affect everyone's paychecks. Social Security taxes were temporarily reduced and minimum wage was increased. This means that there was more take-home money in a paycheck which is perfect for saving. Which is the best way to deal with financial uncertainty

Answer 1

Answer:

Create a savings fund to cover costs in case of an emergency.

Explanation:

From the question we are informed about scenerio which happens After the 2008 economic meltdown, finances were very uncertain, making saving money extremely important. To help with this, certain rates were changed which affect everyone's paychecks. Social Security taxes were temporarily reduced and minimum wage was increased. This means that there was more take-home money in a paycheck which is perfect for saving. In this case, the best way to deal with financial uncertainty is to Create a savings fund to cover costs in case of an emergency.

Savings Fund can be regarded as mutual fund solution that is available for investors that seeks level of income that is stead, even though they are preserving the capital of their initial investment. For this objective to be achieved, Savings Funds could invest a relative amount of (80%-85%) of that particular assets in an investment with low-risk. One of the best saving funds is SBI Equity Savings Fund.