Once you’ve reached your goal and have enough to cover the unexpected, it’s time to think about the future. Financial experts recommend having enough cash to cover three- to six months of living expenses.

U.S. equity markets surged higher last week lifted by improving U.S. economic growth expectations as President Biden officially signed off on the $1.9 trillion stimulus package on Thursday and reiterated that every adult citizen will be eligible to receive a Covid-19 vaccine by May 1st. Over 21% of Americans have received at least one dose to date.

As with any plan, goal, or strategy, it’s important to consistently check your progress. This will allow you to watch your savings grow and correct the course as needed.

U.S. stock and bond markets had another bumpy ride last week as long-term interest rates continued to push higher on the back of robust vaccine and economic data and progress toward another round of stimulus, which was approved by the Senate over the weekend. For the week, the Dow and S&P 500 managed to post positive gains of 1.9% and 0.8%, respectively, as economically sensitive sectors like energy, industrials, and materials lifted the indices higher and offset weakness in information technology.

Do you always look forward to your tax return? Do you frequently get monetary gifts during holidays and birthdays? While it can be tempting to spend that extra dough, putting at least a portion towards your savings can save you a lot of heartache in the future.