| |  | | April 28, 2025 | | | | | | | | Is $5,000 Enough for an Emergency Fund? | By Ben Kesslen
When the economy feels this unpredictable, you want to hope for the best but brace for the worst. And that means being financially prepared for whatever happens.
One of the best ways to prepare is to have an emergency savings — a buffer that can tide you over in case you lose your job or something else goes awry. The general rule of thumb is to have enough set aside to cover at least three to six months' worth of living expenses.
But how many of us actually have that much? Not that many according to a recent survey from the Transamerica Center for Retirement Studies. Among the U.S. workforce, the median emergency savings is $5,000 — an "alarmingly low" amount in the view of the researchers.
 | | | | | | | | WEEK AHEAD ON WALL STREET | | | | Prepare for an Earnings Deluge | By Mario Ismailanji
Financial markets are bracing for the most intense week of the S&P 500 earnings season, with results due from 184 companies (37% of the entire index). Critically, this wave includes reports from tech titans like Meta, Microsoft, Amazon, and Apple, whose capital expenditures and innovation have helped drive markets higher over the last few years.
This earnings deluge arrives against a backdrop of significant global trade friction, which has injected considerable uncertainty into the economic forecast. It has also stoked fear of a recession, which betting markets now consider more likely than not in 2025. | | | | | | | | | | | Panic purchases: Some people are rushing to splurge on discretionary items that could get more expensive with tariffs. (Marketplace podcast)
Tipping fatigue: Americans have started to tip less. But there are still plenty of quandaries about all the tipping prompts. It's even causing fights between spouses. (The Wall Street Journal via MSN)
The moment for gold: The price of gold has been one of the few things to shine in the recent market turmoil over tariffs. (Barron's via MSN) | | | | | | | | $100,000 | That's the average value, over a lifetime, of taking one personal finance class in high school, according to consulting firm Tyton Partners.
Teaching high schoolers good habits early improves their chances of getting a good credit score, and in turn sets them up for a lifetime of lower borrowing and insurance costs, according to the firm. It can also improve their spending, investment and saving routines, which can lead to bigger retirement funds. | | | | | | | | Even Now, Many of Us Don't Understand Inflation | Ok, pop quiz. Let's say the interest rate on your savings account is 1% per year and inflation is 2% per year. After one year, how much would you be able to buy with the money in this account? - More than today
- Exactly the same
- Less than today
- Don't know
If you chose less than today, you're right! You and 58% of the more than 25,000 U.S. adults who were quizzed for The FINRA Investor Education Foundation's National Financial Capability Study.
Of course, 58% would be a failing grade by most standards. But it's an improvement from the last time the Financial Knowledge Quiz was given, in 2021. Back then, 53% got it right.
The increase likely reflects how much we've all been dealing with inflation — and the increased media attention to the topic, according to FINRA.
Two fun facts: The biggest improvement was among respondents 18 to 34 years old. And the most accurate state was Wyoming, with 68% of respondents knowing the answer.
 | | | | | | | | Intel, insights, and inspo for your money. | | On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what's important in this moment — and how it impacts your bottom line. We value your trust above all. | | | | | | | | | | Did you find today's newsletter valuable? | | | | |
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