On this designated "Stop Food Waste Day," households are encouraged to adopt practices that reduce food wastage while simultaneously cutting down on expenses. ABC15 collaborated with the Valley-based non-profit organization Waste Not to gather insightful tips for achieving these goals within your own kitchen. These strategies not only help preserve resources but also promote a more mindful approach to food consumption.
Rethinking how we interact with our groceries can significantly impact the amount of food discarded daily. One suggestion is to utilize existing ingredients already available in your fridge rather than purchasing new ones. This method ensures that nothing goes unused and encourages creativity in cooking.
Another effective technique involves reorganizing your refrigerator. By placing older items at the front or at eye level, they remain visible and are more likely to be used before spoiling. This simple adjustment can prevent many products from being overlooked until it's too late.
Additionally, composting offers an eco-friendly solution for disposing of uneatable portions of food. Instead of throwing away scraps, consider transforming them into nutrient-rich compost for gardening purposes. Furthermore, repurposing leftovers such as coffee grounds or vegetable peels adds value to items often disregarded.
Implementing these innovative approaches not only aids in reducing food waste but also fosters a sustainable lifestyle. Embracing these changes empowers individuals to contribute positively to environmental conservation while enjoying financial savings.
Financial technology companies once promised a revolutionary way to save and potentially earn money. However, the collapse of certain platforms has left thousands of users questioning the reliability of these services. Catherine Bell, nearing retirement, was among those who entrusted their savings to Yotta, a fintech startup that claimed it would help users win money simply by saving more. The concept seemed straightforward: park your money in an FDIC-insured account, earn interest, and gain entries into prize drawings. Unfortunately, Bell's experience took a turn for the worse when she found herself unable to access her funds.
The underlying issue lies in the complex financial infrastructure connecting fintechs with traditional banks. While fintechs themselves are not officially insured by the Federal Deposit Insurance Corporation (FDIC), they often claim that user deposits are protected because the funds are transferred to FDIC-insured institutions. In practice, however, this process relies heavily on intermediaries like Synapse, which collect funds from various fintechs and deposit them into banks such as Evolve Bank & Trust. This intricate web began unraveling in 2022, as discrepancies emerged regarding missing funds. Mercury, another fintech client of Synapse, eventually opted for a direct relationship with Evolve due to concerns over Synapse's reliability. By April 2024, Synapse had filed for bankruptcy, leaving over 100,000 customers without access to their money. Legal disputes, regulatory actions, and ongoing investigations now cloud the prospects of recovering lost savings.
Despite the challenges, there is hope for affected individuals. Various avenues exist through which customers might reclaim some or all of their funds. For instance, legal proceedings, including class-action lawsuits against Evolve and other implicated parties, are underway. Additionally, if criminal activity is proven, intervention by the Department of Justice could lead to restitution. Meanwhile, consumers can take proactive steps by joining collective legal efforts, advocating via petitions, and reaching out to government officials for support. Through perseverance and collaboration, those impacted aim to ensure accountability and prevent similar issues in the future. This situation underscores the importance of transparency and regulation in emerging financial technologies, reminding us that innovation must always prioritize consumer protection above profit.
Financial independence remains a significant challenge for many women, despite their growing success in professional fields. Historically, systemic barriers have hindered women's access to financial tools and resources. For instance, it was not until the 1970s that women gained the legal right to hold credit cards independently, thanks largely to the efforts of figures like the late Supreme Court Justice Ruth Bader Ginsburg. Alison Berman, CEO and President of Palisade Capital Management, highlights the generational impact of these limitations: “Women have been marginalized for so long that overcoming this disadvantage will take time.” This historical context underscores the ongoing struggle women face in achieving financial parity.
Today, several alarming statistics reveal the current state of women’s financial health. A striking 50 percent of women possess less than $500 in emergency savings, while an even greater number lack a retirement savings plan altogether. Women save approximately 43 percent less for retirement compared to men, leaving nearly 70 percent of elderly women reliant on social security as their primary income source. To address these disparities, experts recommend practical steps such as eliminating high-interest debt and educating oneself about personal finance. According to Berman, accessible resources like those offered by the New York Public Library can be instrumental in fostering financial literacy. Moreover, being mindful of daily expenses—such as reducing unnecessary spending on items like coffee—can free up funds for saving and investing.
Building a secure financial future requires courage and persistence. Many women express fear about running out of money, yet they often avoid confronting their debts or exploring investment opportunities. Only a small fraction, about 12 percent, feel confident in their ability to invest. Despite these challenges, the key lies in starting early and consistently contributing to savings, regardless of the amount. As Berman emphasizes, “Time is the most critical factor. Begin saving today, even if it’s just a few dollars.” By embracing financial education and taking proactive steps, women can pave the way toward greater economic empowerment and self-sufficiency, ultimately transforming their futures for the better.