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If you feel like you aren't financially prepared for the future, Assistant Professor of Finance Antonio Gargano with the Bauer College of Business at the University of Houston says the issue may not be a lack of funds. Instead, it might be the lack of a concrete goal.
“Saving, like exercising, is a challenging task. Most individuals do not save enough to withstand adverse income shocks. The best way to weather a financial storm may be to start with a clear plan in mind.”
“By setting concrete goals, individuals' can see an increase in their savings by helping them follow through on their intentions. So set your goal and start saving!”
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