A slot is a narrow notch, groove, or opening, such as a keyway in a machine, a slit for coins in a vending machine, or an ice hockey lane. The term may also refer to a fixed time and place for an aircraft to take off or land, as authorized by an airport or air-traffic controller: “Air traffic control allocated 40 more slots for the new airline at U.S. airports.”
Whether you’re looking to build up a cushion for emergencies or start investing, there are a few things that every saver should know. Here’s a quick primer on how to get started and some long-term goals you can set for yourself:
The first step is to figure out what kind of savings you want to make. It’s important to choose a goal that fits your income, lifestyle, and preferences. While the biggest hurdle is saving enough, the rewards can be substantial, especially if you’re careful about how you invest your money. In addition, it’s important to choose a goal that is achievable. If you don’t feel like you can reach your goal, it might be best to try something else. Ideally, you should be able to meet your savings goal without going into debt. This is why it’s so important to budget carefully and plan your spending. You should also avoid relying on credit cards to pay for expenses. This will only put you into debt if you’re not careful.