Question

Jamie is trying to decide how to increase her savings. Jamie’s making money, paying bills, and buying stuff, but sometimes runs short between paychecks. She doesn’t like feeling broke. She wants to get into the habit of saving so that she has money to fall back on if she loses her job or has an emergency. She also wants to save up for big purchases, like a vacation trip. What should Jamie do?

Answer 1

Jamie can increase her savings by creating a budget, setting up a savings account, and finding ways to increase her income.

Step-by-step explanation:

Jamie can take several steps to increase her savings. Firstly, she should create a budget to track her income and expenses. This will help her identify areas where she can cut costs and save more money.

Secondly, Jamie should set up a savings account and aim to save a portion of her income each month. This will help her build an emergency fund and save for big purchases.

Lastly, Jamie can explore additional ways to increase her income, such as taking on a side job or freelancing. By combining these strategies, Jamie can develop a habit of saving and achieve her financial goals.