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Create smart saving strategies
(Family Features) Money management and building long-term financial health is a careful balancing act between long- and short-term financial needs, and now is a perfect opportunity to re-examine your goals. People sometimes focus on short-term needs, making sure they can cover routine bills and living essentials. However, many Americans do not have the resources to cover an unexpected expense, much less save for the future.
Data from the U.S. Financial Health Pulse shows that Americans are savings-constrained, over-indebted and underinsured. In fact, despite it being the longest period of economic expansion in modern times, 79% of Americans are not financially healthy, and many live paycheck to paycheck just to cover bills, rent and basic living expenses.
As a result, 60% of households are unprepared for a financial shock, with 41% unable to cover an unexpected $400 expense without borrowing money or selling a personal item. This makes saving incredibly challenging, especially for many low-income households.
“The data makes it quite clear that a significant segment of America is struggling to create a meaningful savings account, whether it’s intended as an emergency fund or a means of attaining a goal without incurring debt,” said Deborah Winshel, global head of social impact at BlackRock.
Last year, the firm launched its Emergency Savings Initiative, a program designed to help people living on low incomes gain access to, and increase usage of, savings strategies and tools to help establish important safety nets.
As with any financial matter, there’s no one “right” way to save. Individual circumstances require a customized approach to determine the best method to fit needs. In addition to traditional saving methods, Common Cents Lab, Commonwealth and the Financial Health Network are working with financial institutions and other enterprises on an initiative to create new and experimental programs that address the challenges many consumers face when it comes to saving money.
If you’re not sure where to start, consider these options and consult with your credit union, employer or financial institution to learn more about the options available to fit your unique lifestyle and savings goals.
Automated Savings
Often offered as an option through employer payroll, this approach allows you to designate a portion of your paycheck to be deposited in a savings account. Whether you choose to make it a flat amount or percentage of your income, it’s an easy method that allows you to consistently funnel money into savings with a one-time setup process.
Round Up
Some financial institutions offer programs in which every transaction you make on your account, or perhaps just those made using your debit card, are rounded up to the nearest whole dollar. The difference between that whole dollar amount and your actual purchase amount is then directed into your savings account.
Prize-Linked Savings
Marrying the fun of winning prizes and a savings account, this type of program incentivizes personal saving by offering an on-going, risk-free chance to win a prize, such as additional cash, by making savings account deposits. Promising both security and opportunity (and perhaps some fun), the amount deposited by the account holder is never at risk, unlike lotteries and games of chance.
Windfall Moments
When you receive a substantial amount of money from a source like a tax refund or a work bonus, it can be tempting to splurge on immediate needs or something fun, like a vacation. Allowing yourself to enjoy a portion of the money isn’t a bad idea, but you can also take advantage of the unplanned income as an opportunity to launch, or grow, your savings account.
Collective Savings
Accountability is a common barrier to better saving habits, but when others are counting on you to contribute your share, there’s a greater level of responsibility at play. A collective savings account may be a good solution for a shared goal like a trip, special project or funding a special event for a loved one.
To learn more about the savings problem and some of the work being done to help employees, customers, gig workers and students take essential steps toward long-term financial well-being, visit savingsproject.org.
Photo courtesy of Getty Images
SOURCE:
Financial Health Network
Live Better
Navigating changes as a family
(Family Features) Every family experiences changes. Some are planned, others are unexpected. Some are joyful, others are marked by pain or uncertainty.
Whether it’s divorce, the death of a loved one, welcoming a new sibling or moving to a new home, these events impact every member of the family. For young children, even small changes can feel monumental, and how adults talk with them affects how they respond and cope.
Dr. Lauren Loquasto, senior vice president and chief academic officer at The Goddard School, shares this guidance to help families navigate change.
Why Transitions Matter to Young Children
To understand why transitions affect children so deeply, it’s important to remember children see the world differently than adults. Their routines, relationships and surroundings establish a sense of security and safety. Their families and role within them form their initial identities. Any disruption, big or small, can shake their foundation. Children can handle change, but adults must help them process it.
Children are naturally perceptive. When something changes, they notice. When they lack the language or understanding to ask questions, they express their feelings through behavior. It’s how young children express, “I’m feeling something, but I don’t have the words for it.”
When children become clingier after a new sibling is born or struggle with meltdowns in a new classroom, they’re trying to process the changes in their lives. These behaviors signal, “I’m not sure what to do with all these feelings.”
View Changes Through Children’s Eyes
Everyone experiences changes differently. Even within the same family, adults and children may perceive and respond to the same event in unique ways. An adult may see moving to a new home as an exciting fresh start while children may see it as leaving behind the only bedroom they’ve ever known.
Approaching changes through a child’s lens helps reframe what’s happening. Instead of minimizing feelings, adults can acknowledge the shift children are experiencing and guide them with care.
Proactively Communicate
When families face big changes, one of the most common questions is, “What do we tell the kids?” There’s often a struggle between wanting to protect children from overwhelming emotions and offering them enough information to make sense of what’s going on.
Rather than avoiding the conversation, discuss what’s happening using this framework:
- Acknowledge what’s happening. Use clear, simple language, such as: “Daddy is moving to a different house and you’ll have two homes now.”
- Focus on the present or immediate future. Young children often don’t have a solid grasp of time. While they can understand routines and orders of events, it takes well into elementary school for them to truly conceptualize time.
- Name the feelings. Give children words for what they might be feeling. “It’s OK to feel sad or confused right now. Sometimes changes feel hard.”
- Provide reassurance. Let them know that even though things are changing, they’re still safe and loved.
- Encourage questions. If you don’t have an answer, it’s OK to say, “I’m not sure, but I’ll find out,” or “We’re figuring this out together.”
Avoidance is a natural instinct, but silence leaves children to fill in the gaps with their imaginations, which can be scarier than reality. Moreover, when they sense something is different but no one is talking about it, children might feel alone in their confusion. By proactively communicating, you tell them, “I’m here with you.”
Embrace Feelings
Transitions can be emotional and children need space to express their feelings without judgment. When a child cries or lashes out, instead of responding with, “Don’t be sad,” validate the experience by saying, “I see you have big feelings right now. I’m here with you.” Help your child manage these feelings by encouraging active expressions, such as drawing, writing or moving to music.
Transitions can be challenging, but they’re also opportunities to build resilience and deeper connections. Approaching big changes with empathy, proactive communication and an open heart helps children feel more secure and confident to move forward.
To watch a webinar featuring Loquasto sharing additional guidance and access parenting insights and resources, visit the Parent Resource Center at GoddardSchool.com.
Photos courtesy of Shutterstock
SOURCE:
The Goddard School
Live Better
Ecommerce in 2025: 5 trends shaping the future of online selling
(Family Features) Thanks to the explosion of ecommerce over the past couple decades, consumers can find virtually any product or service they can think of online. In fact, the consumer ecommerce market is expected to approach $6 trillion by 2027, according to the International Trade Administration, up from roughly $4 trillion in 2024.
A diverse collection of product segments is driving this growth, including everything from fashion and furniture to food and beverage. While major marketplace retailers still lead the category, ecommerce has become commonplace among small businesses, too. In fact, by the end of 2023, an estimated 80% of small businesses had at least basic ecommerce capabilities, according to a report by Digital Commerce 360.
However, small businesses are grappling with challenges such as inflation, supply chain issues and keeping pace with major retailers, among others, that are driving a variety of ecommerce trends in 2025 and beyond, including:
Video Content
Spurred by social media, video content is in high demand on ecommerce sites, too. Videos that explain how to use products, offer tips for using them and demonstrate projects that were completed using a product all earn favor with shoppers. In addition, videos that highlight product features, video reviews on social media and “live shopping events” on the social channels of ecommerce retailers can provide a more appealing interactive experience for shoppers.
Inclusive of the “live shopping events” trends, livestreaming is often popular among consumers as it can create a sense of FOMO (fear of missing out), leading to enhanced brand loyalty and engagement. Short-form videos sweeping social media also drive engagements and offer a quick, appealing way to demonstrate new or popular products.
Personalized Products
Ecommerce provides opportunities for shoppers who appreciate buying products that are uniquely their own. Online buying platforms that allow for customization of products such as shoes, clothing and drinkware can create buyer engagement and earn loyal shoppers who know they can purchase the items they want exactly to their own specifications. In fact, a survey by McKinsey Insights found 80% of loyal customers prefer shopping with brands that offer tailored choices and personalized experiences. From color selection and accessories to performance variations, custom options can help create a highly personalized shopping experience that allow buyers to interact more directly than they would for a standardized transaction.
Beyond the initial purchase, customized reports and shipping notifications are also becoming the norm. Shippers can alert customers to their products’ delivery status – including any delays or changes – via email, text, video message or, in some cases, a customizable dashboard where consumers can view incoming shipments tied to their account or address, request a different delivery time or location, pre-sign for packages and more.
Micro Purchasing Moments
You may think phenomena like impulse buys or convenience purchases are reserved for brick-and-mortar stores, but micro-purchasing trends suggest otherwise. These purchases are typically made by someone looking for a quick solution or information in a hurry from a mobile device, such as comparing two or more similar products and clicking a “buy now” link, ordering and paying for food ahead of time to skip the line, making a hotel or excursion reservation while traveling or looking up movie showtimes and purchasing tickets from the same page. Ecommerce sites that can establish themselves as a resource, make information easy to digest and simplify the purchasing process are earning customers (and revenue).
Flexible Payment Options
Online purchases were once limited almost exclusively to credit card purchases, but over time, businesses have granted greater flexibility to shoppers when it comes to collecting payment. While this trend has been growing for several years, many contemporary ecommerce sites now accept credit or debit cards, online checks, digital wallet and mobile payment services, cryptocurrency and even installment payments via third-party providers. By 2029, the third-party payment market is expected to almost double from $62.5 billion in 2024, according to findings from Mordor Intelligence.
Simplified Shipping Options
Evolving technology isn’t just improving the browsing and purchasing side of ecommerce; shipping operations are also seeing enhancements. For example, ShipAccel, a digital platform designed by Pitney Bowes, simplifies and enhances shipping operations with advanced ecommerce technology. The platform empowers early ecommerce brands to ship like larger companies with access to discounted carrier rates; more than 80 integrations including leading marketplaces, data and insights to help make smarter shipping decisions; branded tracking; and return capabilities. It features a collection of apps, widgets and application programming interfaces to easily configure new workflows and seamlessly meet the demands of business growth.
“As ecommerce becomes a mainstay, shippers must take a technology-first approach, utilizing platforms that can grow along with the business and partnering with providers who offer deep expertise in the segment,” said Shemin Nurmohamed, president of Sending Technology Solutions at Pitney Bowes. “As a result of using technology like ShipAccel, ecommerce shippers can save money, enhance operational efficiencies and delight customers – all of which support the business’ bottom line.”
Find more shipping support for your ecommerce business in the coming year at shipaccel.com.
Easy ECommerce Shipping Tips
Whether you’re a buyer or a seller, getting smart about shipping can help improve your ecommerce experience.
Be cost-conscious. Buyers obviously benefit from lower costs, but as a seller, managing shipping costs means more revenue. Volume discounts and options for lower prices with longer shipping times can make a bigger impact than you might expect. A shipping partner that has pre-negotiated discounted rates with carriers can deliver significant savings to your business, too.
Reduce package sizes. Using boxes or padded envelopes that closely fit the product being shipped can reduce weight and therefore the cost to send it to the customer. Also avoid excess packaging that adds bulk, which adds cost and waste.
Utilize advanced tracking tools. Keep tracking information for everything you ship or buy so you can monitor its safe delivery or, if problems arise, promptly identify and correct the issue. An option like ShipAccel uniquely provides branded tracking updates so your business stays front and center with your customer from click to porch.
Photo courtesy of Shutterstock (woman using laptop)
SOURCE:
Pitney Bowes
Live Better
Alleviating the burden in treating type 1 diabetes, chronic kidney disease
(Family Features) While diabetes gets a lot of attention, people with Type 1 Diabetes (T1D) are frequently overlooked when drug companies develop new medications.
“People with T1D and chronic kidney disease, or CKD, face significantly higher risks of morbidity and mortality if they are unable to control their blood sugar levels,” said Steve Edelman, MD, an endocrinologist and the founder and director of Taking Control Of Your Diabetes, a not-for-profit organization dedicated to educating and motivating people living with diabetes. “They are challenged to do this relying solely on insulin, which is extremely difficult and is the principal therapy for people with T1D.”
An estimated 1.7 million adult Americans have T1D, with approximately 21%, or 360,000, also affected by CKD, according to the CDC National Diabetes Statistics Report 2024. Without effective glycemic control (managing blood sugar) and other important preventative measures, patients with T1D are at a 10 times higher risk of cardiovascular disease, a six-fold greater risk of progression to end-stage kidney disease, a four times greater risk of heart failure and a 2-5 times greater risk of all-cause mortality.
Consider this information to better understand the challenges and risks of complications these patients face.
Challenges with Current Treatments Impact Patients’ Ability to Reach Glycemic Goals
Diabetes management aims to reduce the risks of cardiovascular disease, kidney failure, retinopathy, neuropathy and other complications, in part by improving glycemic control while minimizing the risk of hypoglycemia.
Currently, Americans with T1D have limited therapeutic options, relying almost exclusively on insulin. There are no oral agents to improve glycemia in adults with T1D. Despite advances in insulin therapy and glucose monitoring, most people with T1D do not meet glycemic control target levels with insulin alone. One measure of glycemic control is a number known as A1C, which is a measure of glucose control over the past 2-3 months.
The goal is to help patients achieve the guideline-recommended target of an A1C below 7% and improve their time-in-range, which represents an established metric that translates into clinically meaningful benefits for patients.
Reaching Glycemic Goals Are Key to Reducing Risk of Further Complications
By achieving glycemic control, kidney function can be stabilized, long-term disease progression mitigated and the morbidity and mortality that the cardiorenal burden puts on patients with T1D and CKD reduced.
Today, it is estimated only 23% of people with T1D achieve an A1C of less than 7%, according to research from the American Diabetes Association, and about 50% have an A1C greater than 8%. Patients who do not achieve A1C targets remain at significantly greater risk of complications associated with their condition.
“Relying solely on insulin can negatively affect a patient’s glucose control and quality of life,” said Dr. Edelman. “Doctors and patients need an oral agent to improve glycemic control in people with T1D and CKD. Therefore, we need therapeutic options that improve glycemic control and reduce their risk of kidney disease progression and cardiovascular comorbidities.”
Visit TCOYD.org to learn more about living with T1D and advocating for additional therapeutic options.
Photos courtesy of Getty Images
SOURCE:
Taking Care of Your Diabetes
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