What are your thoughts on the author’s comment that you need to “learn to think of your monthly savings amount as an actual bill that you owe and are required to pay”?The author mentions having a goal of saving 20% of all money received. This is a part of the 50-20-30 rule, where you spend 50% of your income on needs, 30% on wants, and 20% to savings. Do you think that is something you could live by?Develop a plan to create an emergency fund of $500 in one year. What are some specific actions you can take to help achieve this goal?KEEP IN MIND THE FOLLOWING:Post your INITIAL RESPONSE to the prompt early in the assignment period so that others have time to respond to you. You must use a minimum of at least 200 words. Please make sure to use proper grammar and punctuation.