Finance
Finance
CRISIS ESCALATES IN THE STRAIT OF HORMUZ AS BLOCKADE BEGINS
Tensions in the Middle East have intensified dramatically after a U.S.-led blockade was initiated in the Strait of Hormuz, one of the most important chokepoints for global energy shipments. The decision follows a collapse in diplomatic talks with Iran and has immediately disrupted maritime traffic through the region.
Oil markets reacted within hours, pushing prices higher amid fears of constrained supply. Shipping companies are reporting rerouted vessels and increased security escorts as naval forces establish tighter control over movement in the waterway. Analysts warn that if the situation escalates further, it could trigger sustained energy volatility and broader inflationary pressure worldwide.
EUROPE FACES MAJOR POLITICAL TURNING POINT IN HUNGARY
Hungary is entering a new political era after long-serving leader Viktor Orbán was voted out following more than 15 years in power. The result marks one of the most...
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 -...