This morning in Vietnam time, Do Thi Ha stopped at Top 13 Miss World 2021, is the only representative to weigh the Asian team in this round. She won the sub-prize “Digital Media Challenge”, for people who have good interactions with fans on social networks.
With the participation in Miss World 2021, the name Do Ha is warmed up the most, especially after being crowned in the final night of Miss Vietnam 2020. But few people know, the girl born in 2k1 has experienced a rather difficult 2021 due to the influence of the Covid epidemic. Her income dropped completely in the few months since the 4th Covid epidemic broke out. However, thanks to a savings from a few months earlier, Miss Do Ha shared that she can still live well.
The need for savings and emergency funds
Do Ha’s point of view in spending is always thrifty, especially when the epidemic takes place, many advertising contracts and event chains are canceled or postponed. In a sharing with the media, she said: “I also work hard to make money, so I spend it sparingly. It’s not like it only takes 3 seconds to spend money to buy branded goods. The items I use are partly given by clients, partners, or stylists.
I really don’t spend too much either. If you go to work, the company will take care of it, and if you go to school, you know, the expenditure of a student is not much. The money that I earn will mainly be saved, sent back to my parents a little bit and kept a little bit to cover my life. Because I am an independent girl, I save on my own, and my parents like me like that because I will be able to manage my own expenses and will be more mature.”
In the past 2 years of the Covid epidemic, many people, especially young people, fell into poverty due to unstable income. Part of this is due to previously unplanned “bluff” spending. What’s more, many people don’t have a good savings emergency fund just in case for unforeseen circumstances, such as a pandemic.
An emergency fund is a savings set aside to pay for unexpected large expenses, so it can cover 3-6 months. For example, serious illness requiring hospitalization, repair or replacement of household appliances, unemployment, etc.
Emergency funds create a financial buffer that can help you survive in times of need without having to rely on credit cards or high-interest loans. It is especially important to have an emergency fund if you are in debt. Because it can help you avoid having to borrow more.
How to build an emergency fund?
1. Calculate the total amount you want to save: For example, you may want to save money for three to six months. Or you can choose to save a set amount. You can then break that goal down to determine how much you need to save each month to reach it.
2. Determine your emergency fund goal: Determine how much you need to save by looking at your budget. Then work out how much you need each month to cover essential expenses, such as housing, food, and transportation.
3. Transfer money to your savings account automatically: The easiest way to do this is every time “ting ting” gets a paycheck, put a portion of it into your emergency fund.Moreover, automate the process on your bank account.It can help you save regularly, which eliminates the feeling of wanting to spend instead of saving.
4. Gradually increase your savings: Over time, increase the amount you are contributing to your emergency fund by 1 percent or a specific amount until you reach your savings goal.
5. Evaluate and adjust contributions: Check in after a few months to see how much you’re saving and adjust as needed, especially if you’ve just pulled money from your emergency fund. On the other hand, if you’ve saved enough to cover six months’ worth of expenses and have extra cash, you might consider investing more instead.
Preventing for the “rainy days”, life is a series of unpredictable events, let’s try to start a habit of saving for such cases right now.
at Blogtuan.info – Source: Kenh14.Vn – Read the original article here