(InvestigateTV) — The March 2025 Conference Board survey reported that consumer expectations fell to a 12-year low, showing Americans are very concerned about the state of the economy.
Leslie Tayne, a debt relief attorney, said challenging times are when people should look for ways to trim their budget and put money away in savings.
Tayne said that whether you’re facing a personal setback like a job loss or feeling the impact of a shifting economy, it’s the right moment to take a closer look at your budget, income, and expenses.
“Right now, for most people, having money in the bank would give you the most peace of mind,” she said. “Interest rates are still pretty high so it’s a good opportunity to put money away and keep it accessible. Meaning that if you are in need of funds for whatever change of circumstances occurs, you have the ability to go to your bank account easily and pull money out.”
And while your money sits in the bank, it’s quietly earning interest and steadily growing, Tayne pointed out.
She also recommended reviewing your budget regularly during uncertain times, and emphasized that this is exactly when building an emergency fund with three to six months’ worth of expenses becomes especially critical.
“Meaning three to six months of expenses in the bank in case something happens with your job or there’s some kinds of economic instability within your own household,” she said. “Also, three to six months of budgeting. What is it going to cost you over the next three months and then outward of three months revisiting that on a monthly basis as seasons change.”
Tayne said uncertainty is a natural part of life—and an unavoidable part of personal finance.
She emphasized that the ability to pivot and adjust your budget and spending should be a priority for everyone.
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