{"id":18372,"date":"2022-02-20T19:00:00","date_gmt":"2022-02-20T11:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/money-lessons-from-2021.html"},"modified":"2026-03-26T16:00:20","modified_gmt":"2026-03-26T08:00:20","slug":"money-lessons-from-2021","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/money-tips\/money-lessons-from-2021.html","title":{"rendered":"Money Lessons From 2021 That Can Help You Save More In 2022"},"content":{"rendered":"\n

The COVID-19 pandemic has changed the way we work, learn, shop, play and live this year, and potentially, forever. By adapting to these changes amid increased unemployment and economic uncertainties, we have also learned valuable money lessons to safeguard our financial health in the new normal.<\/strong><\/p>\n

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Our wallets and job stability may have taken a beating in 2021, but we live to fight another day,  armed with important tips so our finances will never be caught unawares again. Here are seven money lessons that will benefit you in 2021.<\/p>\n

1. An emergency fund is super important<\/h2>\n

Ever since we were old enough to earn a paycheck, we have been encouraged to allocate parts of our salary to our savings (an untouched amount of money that is meant for your long-term goals) and emergency fund (which should comprise six months\u2019 worth of income that you can use for unexpected expenses like retrenchment, job loss and urgent medical care). However, how many of us have actually followed that advice?<\/p>\n

The Edge Markets reported<\/a> that an estimated 48% of Malaysians<\/strong> still do not have any emergency savings. This was based on a survey by financial literacy platform Multiply. <\/p>\n

If you are one of the more prudent Malaysians who have set up an emergency fund, well done! Since 2020 and 2021 were two years where a significant number of Malaysians were being retrenched or laid off, some of us have resorted to using our emergency savings. According to a report<\/a> by Malay Mail, MIDF Research mentioned that Malaysia\u2019s unemployment rate was around 4.3% in 2020 <\/strong>(compared to 3.3% in 2019). <\/p>\n

So in the event of a job loss, you can use the emergency fund to support yourself and your loved ones while looking for new employment. <\/p>\n

Lesson:<\/strong> Emergency savings will help you prepare for unexpected life circumstances<\/a> that require you to spend more than usual \u2013 such as unemployment and car repairs.<\/p>\n

Don\u2019t have a 6-month emergency fund yet? It\u2019s never too late to start one. This could be one of your New Year’s resolutions for 2022!<\/strong><\/p>\n

Here are some tips about starting your emergency fund: <\/p>\n