Finance
Finance
Middle East Tensions Continue to Draw International Attention
Military and political tensions in the Middle East remained a major focus this week as several countries increased security measures and called for renewed diplomatic efforts. Governments across the region continue to monitor developments closely while international organizations urge all sides to avoid actions that could lead to a wider conflict. Shipping routes, aviation services, and regional trade have all been affected to varying degrees as authorities assess the security situation. Analysts believe the coming weeks will be important in determining whether diplomatic negotiations can reduce tensions and restore greater stability across the region.
European Leaders Reaffirm Long-Term Support for Ukraine
European leaders gathered this week to discuss continued assistance for Ukraine, emphasizing cooperation in defense, humanitarian aid, economic recovery, and reconstruction efforts. Officials highlighted the importance...
Whether you’re newly graduated or well into your career, CERTIFIED FINANCIAL PLANNER® professionals say you should make these five financial moves right now:
Create a budget. Research finds that 83% of Gen Z-ers and millennials have experienced regret about their spending decisions. Crafting a budget means making mindful choices about how you spend your money, which can eliminate financial stress. However, if the term “budget” fills you with dread, try calling it a “spending plan” instead. The important thing is to get started and find a process that works for you.
Build an emergency fund. According to the Federal Reserve Board, only 55% of Americans had three months’ worth of expenses in emergency savings in 2024. In the event of an unexpected expense, such as hospitalization or home repairs, a rainy-day fund can save you from accumulating debt or dipping into retirement savings. A CFP® professional can help you adjust your budget to divert savings into an emergency fund to cover at...
(BPT) - Close to 2 in 5 Americans (38%) say cash feels more "real" than digital money: It's a tangible reminder of value, and remains a permanent part of their financial toolkit (27%). Yet, new Empower research shows that in practice, physical dollar bills may be fading from daily life: 1 in 5 say they use cash only a few times per year, and just 18% use it daily. Still, a quarter often find themselves in situations where they wish they had cash on hand.
Its popularity may be dictated by what's going on in the economy, as a quarter (25%) view cash as a "safety net" currency in times of financial downturns, and 1 in 5 Americans have increased their physical cash holdings in the past year due to market uncertainty.
Cash in a digital age
While a third (35%) say they are mostly cashless, for close to 1 in 5 Americans (19%), dollar bills remain a trusted form of payment - something they actively use and keep in significant amounts. Overall, 40% of people feel safer keeping some cash on...
(BPT) - No matter your stage in life's journey, it's never too early or late to make financial plans. For military families especially, planning helps you withstand major transitions and gives you confidence about the future. From your first Permanent Change of Station (PCS) to deployment and separation, you'll have many decisions to make and high-priority items on your to-do list, including managing your finances.
Financial Planning Month is the perfect time to work on setting goals for your financial future. Here are tips to get you started.
Begin with the basics: Savings
Developing a savings plan is a great place to start. Even when you're starting out in your career, developing the habit of setting money aside from each paycheck can help you build an emergency fund for unexpected events. One approach is to open a separate savings account for that purpose and have a small portion of each paycheck automatically deposited into that account, so you don't even have to think about it....
(BPT) - Money is on the mind: Americans are spending nearly 4 hours a day thinking about money, according to new research from Empower, a financial services company. That's the equivalent of a part-time job, but nearly half (45%) say it motivates them to take action to reach their long-term goals.
Time spent thinking about money by generation
* Gen Z: 4.82 hours/day
* Millennials: 4.73 hours/day
* Gen X: 3.74 hours/day
* Boomers: 2.4 hours/day
More than half (54%) say they're thinking about money more often than they did last year.
What are people thinking about? For most, it's quality of life considerations: bills (57%), inflation and rising prices (51%), housing costs (34%), debt (30%), tariffs (28%), and retirement savings (24%).
In fact, a majority (55%) of Americans say they think about their retirement weekly, or daily (27%). One in 4 (22%) high-income earners have retirement on the mind multiple times a day.
Checking in - and in
People are not just thinking about finances -...