Nearly half of Americans have $500 or less in their savings accounts, an amount that leaves them vulnerable to unexpected expenses, according to a GOBankingRates survey of 1,063 U.S. adults conducted in November 2023.

About 29% of respondents have between $501 and $5,000 in their savings accounts, while the remaining 21% of Americans have $5,001 or more.

Few hold much cash in their checking accounts as well. Of those surveyed, 60% report having $500 or less in their checking accounts, while only about 12% have $2,001 or more.

The lack of cash in either savings or checking accounts suggests that many Americans are living paycheck to paycheck. This leaves them vulnerable to unexpected expenses, underscoring the importance of having an emergency fund, if they’re able to build one.

Financial planners commonly recommend keeping a reserve of cash, known as an emergency fund, on hand to cover unexpected expenses. Yet many Americans don’t seem to have one.

There are many reasons for this. In some cases, Americans may struggle to make ends meet during times of high inflation. But in others, it may be a matter of affluent professionals who aren’t in the habit of saving money.

“The inability of Americans to withstand an emergency costing $500 or even $1,000 can be financially detrimental, with a domino effect on their life,” says Alex Lozano, a certified financial planner and founder of Lozano Group Wealth Management.

That’s because people often rely on high-interest credit cards to cover unexpected expenses, he says.

“Accumulating debt can lead to a cycle of repayment and interest charges that can be difficult to escape,” says Christopher Lazzaro, chartered financial consultant and founder of Plan For It Financial. “An emergency fund helps you avoid falling into this debt trap.”

Lazzaro recommends aiming to build an emergency fund that’s worth three to six months of your expenses, although “everyone’s situation is going to be different.” Someone who is single or with a non-working spouse might want to save up 12 months worth of expenses, he says.

To get started, you’ll need to find room in your budget for monthly emergency savings contributions, which can be easier said than done.

If you aren’t able to cut back on your day-to-day expenses, it may make sense for you to temporarily reduce any contributions to retirement accounts. “Before people begin to invest for their future, they should create an emergency account,” says Lozano.

It’s OK to start small, too, even if that’s putting away only $20 per month. What’s important is that you get in the habit of making regular contributions, which can be increased later when you have more income.

Once you’ve carved out some of your monthly income to build up an emergency fund, it can be smart to stash it in a high-yield savings account where it will collect interest and can be withdrawn quickly in case of an emergency. Currently, you can find high-yield savings accounts with annual percentage yields close to 4.5%, compared with an average of 0.6% for all savings accounts, per Bankrate.

And yet, only 9.8% of survey respondents say they have a high-yield savings account, GOBankingRates found.

One reason people don’t switch over, despite the better rates, is inertia, since many already have a traditional savings account with the bank they’ve been with for years.

But the higher interest rates might be worth the switch. For a $500 balance in a high-yield account offering 4.5%, that works out to $22.50 in interest after one year, compared with just $3 with a traditional savings account.

While that might not seem like a lot of money at first, it will continue to grow over time, especially if you build up your emergency fund to cover many months worth of expenses.

https://freedomherald.com/uv-study/

Trump Said It In April 2020, Was Ridiculed, Now It’s True
By R. Kelly -February 19, 2024
Well, this is a fascinating little tidbit.

On April 24, 2020, CNN “fact-checked” then-President Trump over a claim about C***D and the use of UV light.

The CNN report claimed, “Trump dangerously suggests sunlight could help cure c****av***s.”

“So supposing we hit the body with tremendous – whether it’s ultraviolet or just a very powerful light – and I think you said that hasn’t been checked because of the testing,” Trump said during a briefing. “And then I said, supposing you brought the light inside the body, which you can do either through the skin or some other way, and I think you said you’re going to test that, too.”

CNN noted that “Birx told Trump directly, and as medical experts said after the briefing, sunlight isn’t a potential treatment for c****av***s.“

Well guess what?

There are now two studies published in the National Library of Medicine showing that “infrared light therapy relieves hyper-inflammation” created by C****-**.

The first was published in 2021 and the second was recently published in October of 2023.

HAVE C***D? HERE’S A PAPER SHOWING THAT NEAR INFRARED LIGHT (LIKE THE KIND IN SUNLIGHT THAT PENETRATES INTO THE BODY), NEUTRALIZES THE MECHANISM OF INFLAMMATION SEEN IN C****-**. (TLR-4 DEPENDENT HYPER-INFLAMMATION).P3

— ROGER SEHEULT, MD (@ROGERSEHEULT) DECEMBER 19, 2023


Those at higher latitudes had higher mortality rates because there were less UVA’s.

THEY USED UVA AS A SURROGATE. COULD ALSO HAVE USED NIR (SAME THING – MAYBE EVEN MORE). THOSE AT HIGH LATITUDES HAD HIGHER MORTALITY FROM C***D ** IN THREE DIFFERENT COUNTRIES! USA, UK, AND ITALY. PIC.TWITTER.COM/VXNJPYH2G3

— ROGER SEHEULT, MD (@ROGERSEHEULT) DECEMBER 19, 2023

Yup, they locked everyone inside when being outdoors was probably one of the easiest ways to help people.

IMAGINE PUTTING HOSPITALIZED PATIENTS WITH C****-** INTO INFRARED RADIATION (LIKE SUN)! RANDOMIZED CONTROLLED TRIAL DID JUST SUCH A THING.
INTERVENTION GROUP WAS DISCHARGED 4 DAYS EARLIER, HAD BETTER PULMONARY FUNCTION, AND BETTER HEMATOLOGICAL NUMBERS.

— ROGER SEHEULT, MD (@ROGERSEHEULT) DECEMBER 19, 2023

Here is an entire video explaining and breaking down the data. The naysayers: YouTube has designated this guy an approved source.



Remember, former President Trump was mocked over this and it’s true.