Despite being employed full-time, many Americans struggle financially. About 70% of adult wage earners on food assistance work over 35 hours a week. 1 in 3 Americans lack emergency savings, and the middle class is shrinking. Middle-class income growth lags behind the upper tier, impacting financial security for many.
To improve financial stability, prioritize savings, track spending, and aim to save 20% of income. Cut unnecessary expenses, increase income with side hustles, and avoid carrying debt. Automate savings transfers and build an emergency fund to ensure a stable financial future. Make changes to manage money effectively. 1. The stock market saw a significant increase today, with the S&P 500 reaching a record high. Tech companies led the way with strong gains, as investors remain optimistic about the economy’s recovery.
2. A new study reveals that eating a plant-based diet may significantly reduce the risk of developing heart disease. Researchers found that those who followed a vegan or vegetarian diet had a lower incidence of heart problems compared to those who consumed meat.
3. The Federal Reserve announced that it will keep interest rates near zero and continue its bond-buying program to support the economy. The decision comes as the central bank aims to stimulate economic growth and employment in the midst of the pandemic.
4. Tesla reported record-breaking profits in the second quarter, exceeding expectations and sending its stock price soaring. The electric vehicle company’s success is attributed to strong demand for its cars and increased production efficiency.
5. The Tokyo Olympics officially kicked off with a colorful opening ceremony, albeit in a subdued atmosphere due to the absence of spectators. Athletes from around the world paraded into the stadium, marking the start of the highly anticipated games despite ongoing concerns about COVID-19.
Read more at Yahoo Finance: I’m 35 and middle class with a stable job, but feel like I’m 1 crisis away from financial ruin. How can I sleep better?