If you're frustrated by economic factors you can't control, reclaim your power by saving with a vengeance. Prostock-Studio/Getty Images
The economy sucks right now. Tariffs could keep prices high for who knows how long. Every day, my LinkedIn is filled with posts from victims of the latest layoffs. So much of my financial stability feels out of my control.
That's why I'm all about a new trend called revenge saving.
What is revenge saving?
You may be familiar with revenge spending, or splurging after a period of hardship or deprivation. Many of us did it after the pandemic. I emerged from lockdown eager to make up for lost time. I booked a slew of dinners with friends and a haircut at an upscale salon to correct months of DIY home trims. Revenge spending was a way to regain control and relieve the pressure after going through tough times.
Revenge saving can do the same thing, but it's much healthier for your finances. It shifts the focus from enjoying the here and now to building a buffer for the future. By tapping into the fear and uncertainty many of us are feeling about the economy, it can give you the extra motivational boost you need to stick to your financial goals.
I, for one, find something deliciously satisfying about reframing savings not as a chore or a sacrifice, but as a "screw you!" to economic uncertainty and the high cost of living.
Read more: Stop a Recession From Wrecking Your Finances by Putting Your Money Here
In this economy? Saving money is a power move
Building a cash cushion is a must at any time, but it's especially crucial now. In addition to the usual things that could derail your finances, like a sudden medical bill or pricey home repair, the threat of a job loss and runaway inflation have many of us on shaky ground. An emergency fund can help you weather these challenges without forcing you to rely on high-interest debt like credit cards or loans.
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