An Historic Type of European Cash: Bronze Rings, Ribs and Blades

The modern world thrives on a constant flow of money that has its roots in simpler protocurrencies developed at the regional level by ancient peoples.

Two archaeologists believe they have identified a very early example of commodity money in Europe that was used in the Bronze Age about 3,500 years ago, with designations in the form of bronze rings, ribs and ax blades. At that time, people often buried collections of these ubiquitous objects, leaving an abundance of scattered “hoards” across the European continent.

in the a study published Wednesday In PLOS ONE, Maikel Kuijpers, Assistant Professor of European Prehistory at the University of Leiden in the Netherlands, and Catalin N. Popa, a postdoctoral fellow there, compared the weights of more than 5,000 rings, ribs and blades from the Bronze Age to over 100 hoards, the five or more Items contained.

The results showed that 70 percent of the rings were so tight in mass – about 7 ounces on average – that if they had been weighted by hand, they would have been indistinguishable. While the ribs and ax blades are not quite as uniform, the study concludes that the artifacts are similar enough to collectively demonstrate “the earliest evolution of commodity money in prehistoric Central Europe”.

“It’s a very clear standardization,” said Dr. Kuijpers.

While other researchers questioned some of their conclusions, they agreed that the study expanded our knowledge of the economic activities of ancient peoples.

As bronze smiths spread across Europe, these rings, ribs, and ax blades were cast for functional uses – like jewelry and tools – that might not have anything to do with money. Some of the items in the data set likely retained strictly functional or decorative roles as their weights were well above the calculated average.

The comparable weight of a large part of the artifacts leaves “no doubt that at least the rings and ribs meet the definition of commodity money,” the authors wrote. The bronze items reflect forms of currency based on tools known as paraphernalia that were discovered elsewhere, such as: Knife and spade money found in China and Aztec chopping and ax money found in Mesoamerica.

“We have examples in other regions of the world where you seem to be developing in a similar way,” where “a practical tool is being converted into this parcel money and then into this commodity money,” said Dr. Kuijpers.

A key innovation in bronze is the ability to create duplicates by pouring the metal into molds. The study speculates that over time these nearly identical copies led to an abstract concept of weight that laid the mental foundations for the invention of weighing tools and technologies that emerged centuries later in Europe during the Bronze and Iron Ages.

Nicola Ialongo, a prehistoric archaeologist at the Georg August University of Göttingen in Germany, said the study “made an important contribution to understanding how early funds work,” but that there was a less complicated explanation for how these standardized objects came about.

“As the authors acknowledge, the regularity of their samples could be explained simply by imagining that the objects in their records were cast with a limited number of shapes, or that the shapes themselves were of a standardized shape,” said Dr. Ialongo.

In addition, ancient peoples might have counted this currency the way we count coins today instead of focusing on weight.

“Put simply, you don’t need a weight system to be able to use metals – or any other commodity – as money,” he said, adding that many other less durable things may have been used as money before these bronze items.

The authors counter that “weight is important” because “there is evidence that certain types of objects have intentionally attempted to reach a certain weight interval”.

Barry Molloy, Associate Professor of Archeology at University College Dublin, who was not involved in the study, noted that “there has long been suspicion that systems of weights and measures were used in Europe during the Bronze Age”.

“The search was for an accurate metric such as that found in Southwest Asia and the Mediterranean,” said Dr. Molloy. ‘While this paper does not show that such a coherent system existed, it does provide important insights into how ancient people in Europe themselves approached these problems pragmatically before formal weight systems were developed in the Iron Age. “

While Dr. Ialongo disagreed with some of the researchers’ methods, he also praised the study as “a remarkable attempt to break one of the oldest and most enduring taboos in prehistoric archeology that“ primitive ”societies do not have proper commercial economies. ”

Historical Copper Findings Shed Gentle on Origins of Cash

Copper objects discovered in Central Europe represent the earliest known standardized currency and point to the earliest origins of money.

According to a study published in PLOS One on Wednesday, the currency was standardized thousands of years ago. (Photo credit: MHG Kuijpers via Courthouse News)

(CN) – During the Bronze Age, the beginnings of modern society began to emerge: the use of tools expanded, agriculture replaced wild food, and humans developed systems for dealing in money.

The practice of using money dates back to Europe’s early Bronze Age, which ran from 2150 to 1700 BC. Lasted. This revealed a new analysis of thousands of standardized copper objects discovered north of the Alps.

The researchers described the object shapes as rings, ribs and ax blades and performed statistical analysis to assess the evenness of the size of each object.

Although the weights of the objects were different, about 70% of the rings – and subsets of the ribs and ax blades as well – were indistinguishable to people who weighed them by hand, indicating that they were used as currency.

Each ring weighed approximately 195.5 grams, but the uniformity was adjusted by pouring the metal into molds rather than assigning a target weight to each ring.

The researchers describe and compare each of the more than 5,000 objects and present their results in a study published on Wednesday in PLOS ONE magazine.

Maikel HG Kuijpers, Assistant Professor of Archeology at the University of Leiden in the Netherlands, led the study of the “oldest known form of money from prehistoric Europe”.

Before coins, the objects were “commodity money,” Kuijpers explained in an email. Their value came from the copper material itself, rather than having a specific value assigned to each shape.

As human civilizations expanded during the Bronze Age, materials like bronze and copper “helped this development,” Kuijpers said, especially because the metals could be poured into molds to make many copies of a particular shape.

In addition to being money, bronze and copper have changed the way societies perceive values. Kuijpers remarked: “Materials help us think!”

The new paper regulates a discussion about whether the copper objects were really some kind of protocurrency, as some previous research had suggested.

“There was a lot of discussion, but we lacked a suitable method to test this idea,” said Kuijpers, adding that the new publication “provides clear evidence that it is commodity money.”

Kuijpers and colleagues used a principle of psychology called the Weber faction to determine that a person who weighs the rings and ribs by hand will not be able to tell the difference between the two. (Without scales, it was probably only possible to weigh by hand.)

The team determined that the axes were likely a regional currency. They appear to be compatible with rings and ribs, which are often discovered or joined together.

The researchers describe more than 5,000 objects, including copper ribs, which were used as currency in the early Bronze Age. (Photo credit: MHG Kuijpers via Courthouse News)

Rings and ribs were already a thing of the past by the end of the Early Bronze Age. They were replaced by scrap metal and pieces of cake. When the first scales were created in Western Europe during the Middle Bronze Age, currency standardization became even more accurate.

Thousands of years later, money itself has certainly not gone out of style. When researchers learn more about the origins of the currency, they can understand the important role money played in humans, from early civilization to the dawn of Bitcoin and other cryptocurrencies.

Copper currency research is part of a project to investigate a particular practice across ancient Europe: valuables were buried like bronze objects or thrown into rivers that were later discovered by researchers.

Kuijpers examines this systematic destruction of precious metals in order to better understand ancient cultures and how the destruction of these objects could have created their value.

“So,” he said, “let’s look at a society with an economy that looks both familiar and unfamiliar.”

Like this:

To like Loading…

New Rap Track of the Day: Child Cash “Moncler Bubble”

With artists releasing songs at a fast, frenzied pace, it is difficult for the average hip-hop head to stay on top of things – no matter how well addressed they are. That is why we created The Ones, a daily post, to highlight the song you need to hear.

Baby money – “Moncler Bubble”

Whether it’s the casual North Face Nuptse puffer or the over-the-top Canada Goose parka best suited for a hike through a blizzard, a rapper’s winter outerwear says a lot about his personality. In Detroit’s designer-brand-obsessed rap scene, it only makes sense that Baby Money chose to rap over its “Moncler Bubble”. It’s an eye-catching coat that looks expensive at photo shoots, but is also so plush that if you fall on the icy floor while wearing it, you’ll feel like you’ve landed on a mattress. In “Moncler Bubble”, Baby Money not only boasts of his outer layer with his clever play on words – he is unfazed by the crash of his Corvette – but everything comes back to what keeps him warm in the brutal winter in the Midwest. “Moncler bubble for the times when we don’t have shit,” raps Baby Money with a suppleness perfect for appreciating the luxury of a good coat.

Check out the previousand hear new rap from Baby Money and more on ours Spotify playlist.

Anti-money Laundering Software program Market 2020 : Rising Demand for Monetary Information Mining Instruments to Handle Big Monetary Information to Drive Demand – KSU

The proliferation of machine learning (ML) in various fields is benefiting both consumers and businesses in the anti-money laundering software market. Stakeholders in the value chain increase their profits with the help of ML, as the new technology helps to recognize undiscovered patterns. Hence companies in the market for Anti-money laundering software develop solutions that are integrated with MI and cloud computing. For example, ACTICO, an end-to-end automation solutions company, developed an ML module based on the expertise of compliance managers and knowledge gained from data.

Companies in the anti-money laundering software market are increasingly researching the development of software with ML for integration into other functional modules. They are stepping up their efforts to develop solutions that meet government standards. Such advanced software systems are gaining visibility in banks and insurance companies as there is a growing need for software systems that can identify customers and transactions that pose a potential compliance risk.

Request a sample to get full insights into the Anti Money Laundering Software market

The need to eliminate false positives in transaction monitoring solutions is increasing the demand for software

The anti money laundering software market is expected to grow at a CAGR of ~13% during the forecast period. Since end users have high expectations of software systems, companies develop solutions with reliable detection of true suspicious cases. However, the rapid growth of the wire industry is challenging for money laundering software companies in the market that find it difficult to efficiently monitor and detect suspicious transactions. As a result, companies are intensifying research and development to develop software that eliminates the problem of false positives in surveillance and verification programs.

Transaction monitoring is one of the main drivers behind the robust growth of the anti-money laundering software market. Therefore, the transaction monitoring system product type segment is estimated to lead the anti-money laundering software market, and the global market is estimated to be worth ~$ 4.9 billion by 2027. Therefore, companies optimize their effectiveness in the secondary assessment of the transaction monitoring process.

Cloud-based delivery model helps with the immediate analysis of data sources

Cloud-based services are intended to conquer the market for software to combat money laundering and at the same time gain importance in the banking world. This is evident as the cloud-based delivery model is expected to take a huge leap in the market landscape. Therefore, compliance officers are increasingly using cloud-based services to improve the functionality of anti-money laundering software. In addition, cloud services help end users analyze data in different formats and from different applications. Since most of the data comes from outside the company, cloud-based services help harmonize the data and enable the compliance team to assess suspicious activity.

To understand how our report can transform your business strategy, Ask for a brochure

On the other hand, AI is another trend that is seeing growth in the anti-money laundering software market. Because of the benefits of AI, end users are leveraging cloud-based and other advanced services that are rapidly changing. For this reason, companies are increasingly trying to introduce relevant data to analyze information from inside and outside the company.

Are you in direct competition with other brands? Request a custom report in the anti-money laundering software market

Optimized workflows set the pace for innovations in software

End users seek a streamlined approach to innovation in anti-money laundering software. They call for small pilot programs because money laundering compliance involves several moving parts. Compliance managers therefore identify areas where technological innovations could help develop a pilot project to test different theories. In order to be successful in pilot projects, companies in the anti-money laundering software market are increasingly sensitizing to balancing the results of the pilot project with earlier control strategies in the company’s history.

Banks, which are among the major end users of anti-money laundering software, fight financial crimes with low-cost and ML-based software solutions. This is evident as the retail banking market is projected to grow exponentially for anti-money laundering software. There is a growing demand for software systems that prevent financial crime. Increasing research and development has led to innovations in ML-based analytics solutions and RPA (Robot Process Automation) workflows.

Read our latest press release:

about us

Transparency Market Research is a next generation market intelligence provider providing fact-based solutions to business leaders, consultants and strategy professionals.

Our reports are one-point solutions for businesses to grow, develop and mature. Our real-time data collection methods, as well as the ability to track over a million high-growth niche products, are geared towards your goals. Our analysts’ detailed and proprietary statistical models provide insights to help you make the right decision in no time. For companies that need specific but comprehensive information, we offer tailor-made solutions through ad hoc reports. These requirements are delivered with the perfect combination of fact-based problem-solving methods and the use of existing data repositories.


Transparency market research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

U.S. – Canada toll free: 866-552-3453



Much less driving throughout COVID means much less cash for CDOT

Pumped people less fuel during the COVID, leaving the Colorado Department of Transportation lacking the funding they normally expect. What is the problem?

DENVER – It’s a catch-22.

Working from home means fewer cars on the road, which leads to less traffic.

Fewer cars on the road means less need to top up the pump.

Less refueling means the Colorado Department of Transportation (CDOT) lacks the funds normally expected.

Due to the pandemic that resulted in changes in work behavior and delayed vehicle registrations, CDOT reported a shortfall of $ 33.7 million for the fiscal year ended June 2020.

Taking into account three budget cycles from July 2019 to June 2022, CDOT expects a vacancy rate of USD 117 million.

“We are trying to future-proof the system by generating both short-term revenue and building a new revenue structure that won’t deteriorate like the gas tax,” said Rep. Matt Gray, D. -Broomfield.

Gray is one of the top Democrats on the House Transportation & Local Government Committee. He worked for years with Senator Faith Winter (D-Westminster), the chairman of the Senate Committee on Transportation and Energy, on solutions for road finance.

“We met 51 meetings today,” said Winter.

CONNECTED: CDOT receives $ 60.7 million for I-70 improvements

PREVIOUS: COVID-19 Costs CDOT Millions of Dollars; That means that for road projects

PREVIOUS: I-70 traffic at a 40-year low in the Eisenhower-Johnson Tunnels

The two have held dozens of stakeholder meetings. Tuesday’s Zoom meetings included talks with engineers and environmentalists.

“We haven’t had a single stakeholder meeting where people say I’m not willing to pay a little more,” said Gray.

What are you working on And who would pay more and how much more?

“Delivery,” said Winter. “Uber and Lyft and ridesharing and car sharing and rental cars.”

All of these industries could receive a new fee for their services that would be used directly on road projects.

“Every time an Amazon package is delivered to my home, every time Grubhub is delivered to my home, I rely on good roads,” said Winter. “You pay for the roads that bring you your service.”

“If you charge more for an Uber or Lyft ride or an iPhone or iPad, the consumer has to pay that in order for that consumer to receive a tax,” said Senator Ray Scott (R-). Grand Junction). “You get into this argument, is a fee a tax or a tax a fee? And obviously people are using creative language with a fee because they don’t want to talk about TABOR, because TABOR is asking voters to approve it.

TABOR, the Taxpayer’s Bill of Rights, requires a vote on all tax increases.

“I spoke to the governor and the governor said he didn’t want anything on the ballot. I understand that the voters said no because of the last five or four attempts,” said Scott.

Most recently, voters rejected three questions about road financing.

In 2019, 54% voted against Proposition CC, which would have used TABOR reimbursement funds on road projects instead of reimbursing them to residents.

Two election questions were rejected in 2018.

Proposal 109 would have funded certain projects by allowing the state to borrow money.

Proposal 110 would have increased the state sales tax on road finance.

Both failed with around 60% against.

“It stinks. We never got it right. Whether legal or on the ballot, we just can’t get it right,” said Scott.

Scott believes there is money to be found, maybe not all of the money needed, but enough of it, with CDOT scrutinizing the checkbook.

“I’m one of those people who say there is always efficiency in government,” said Scott. “Trust me when I tell you there are efficiencies that can be found and get more money on the streets because honestly all Coloradans want the money there. Just put it on the streets and bridges.”

Another idea that Winter and Gray are considering is a fee that everyone pays regardless of the industry.

“The road users also pay a gasoline fee,” said Winter.

A gas fee would be an additional fee that each driver pays at the pump, in addition to state and federal fuel taxes. Fees do not require the vote of the people as they do with tax increases.

“It makes it a difficult discussion when we’re trying to come up with ideas for efficiency and accountability, but the Democrats come right back out with a fee,” said Scott.

How much would any of these fees cost? The ones at the gas pump or for delivery services?

“We haven’t given any numbers to anyone. What we’re doing is listening,” said Gray. “We’re not trying to figure out how we’re going to do it in the next year or two. If we’re back to normal, hopefully it’s the next 50 years. That’s about the next 100 years.”

RECOMMENDED VIDEOS: Full episodes of Next starring Kyle Clark

Demand for providers exceeds Clark County coronavirus reduction cash

Despite spending nearly $ 300 million on coronavirus aid funds on a wide range of programs to assist a pandemic-hit public, Clark County estimates that the remaining federal dollars will not be enough to meet an outstanding demand for services.

District officials announced Tuesday that by June 30, they are expected to spend a total of $ 315 million in CARES Act funds granted to the county last year, leaving approximately $ 183 million on programs like rentals and Rent are available usefulness Help.

Officials said new federal money earmarked for the pandemic should help make up at least part of the current fiscal year deficit. The Consolidated Funds Act of 2021, which went into effect late last month, is expected to provide the county directly with $ 31.7 million in rental support.

It is the same bill that extended the deadline to December 31, 2021 to allow jurisdictions to spend their allotment of the CARES Act funds received in April. By Jan. 5, the county had spent all but $ 40 million, though Jessica Colvin, the county’s chief financial officer, said Tuesday that it would have been spent in full by Dec. 30 if the deadline wasn’t by one Year would have been extended.

Money well spent, but not enough

Rental Assistance ($ 54.6M), Basic Needs Assistance ($ 30.2M), Utility Assistance ($ 23.2M), Coordinated Coronavirus Test Sites ($ 23M), and Economic Recovery Programs ($ 11, $ 6 million) was among the county’s largest tickets to spending under the CARES Act.

And the efforts have paid off, according to Assistant County Manager Kevin Schiller. The county ran nearly 500,000 coronavirus tests in 211 days of community-wide testing. Support of 16,000 households with rental support; paid more than 63,000 pension accounts; defused 314 evictions; and donated 2.1 million meals to individuals and households, including in partnership with three dozen vendors.

“Spending these dollars on the letter of the law, as we thought it was temporary, is incomprehensible to all of me how difficult it was for all of you,” said Commissioner Michael Naft as he praised the efforts of the district officials in handling federal dollars Maintenance.

However, the gap between funds available and demand shows how deep the pandemic has hit the region.

Rental, business support demand high demand

While the county still had nearly $ 24 million in rental assistance funds as of Jan. 5, around $ 91 million worth of applications had been queued. And while there was $ 1.9 million available for stimulus programs, it was around $ 23 million Small business grant applications Pending.

“We believe that we will continue to receive applications through June 30th until the vaccination program continues and we see better improvements in the economy,” said Colvin.

On Tuesday, the commission agreed to redistribute certain CARES Act dollars to areas where officials knew there was no other payment mechanism for the programs as officials continued to track potentially available federal and state funds.

Are you still working on a stimulus bill?

Joanna Jacob, the district’s government manager, said there were rumors that Congress could pass another stimulus bill to provide direct assistance to counties and cities, but she wasn’t sure where that read Tuesday.

Jacob also noted that last month’s budget will provide Nevada directly with money for issues crucial to the region, such as public and mental health, unemployment, food security, and broadband connectivity.

Meanwhile, commission chairman Marilyn Kirkpatrick said she had asked neighboring cities to cooperate Rental support by pooling money, and that North Las Vegas and Henderson have so far agreed.

“I’d bet across the country we were the most conservative with our dollars, but they went for the best,” said Kirkpatrick.

Contact Shea Johnson at or 702-383-0272. consequences @Shea_LVRJ on twitter.

Does having extra money could make you happier? One examine reveals the reply

Posted: Jan 19, 2021 / 5:07 PM MST
Updated January 19, 2021 / 5:07 pm MST

EL PASO, Texas (KTSM) – The simple explanation is yes.

This is suggested by a new study conducted by researchers at Wharton People Analytics at the University of Pennsylvania.

The researchers asked more than 30,000 people to answer the question of how they are feeling right now.

They found that those with higher incomes were more likely to be happy.

Feeling in control of their lives made up most of the link between money and wellbeing.

Wharton People Analytics at the University of Pennsylvania shows that those who earn more than $ 75,000 are generally happier.

Full article here:

Swiss open money-laundering probe of Lebanon’s central financial institution | Enterprise and Financial system Information

The investigation is the latest blow of confidence for Lebanon’s crippled financial system.

Beirut, Lebanon – The Swiss authorities have asked the Lebanese judiciary to cooperate in a money laundering investigation by the country’s central bank in order to treat the bankrupt financial institution and its depressed governor with the latest loss of confidence.

The investigation focuses on $ 400 million in remittances allegedly tied to the bank’s 27-year-old governor, Riad Salameh, his brother Raja, and Salameh’s adviser Marianne Al-Hoayek, a court source told Al Jazeera. Institutions in which the bank has a large stake – including Middle East Airlines and the Casino du Liban – are also being scrutinized, the source said.

Salameh issued a statement denying any wrongdoing and dismissing overseas broadcast reports from him, his brother or his advisor as “falsifications and false news.” He threatened legal action against anyone who publishes the information in order to damage his reputation.

The Swiss Public Prosecutor’s Office did not immediately respond to Al Jazeera’s request for comment. Officials from the Swiss embassy in Beirut referred Al Jazeera to the public prosecutor. The outgoing Lebanese Justice Minister also did not respond to a request for comment.

Reuters news agency quoted the Swiss Attorney General as saying it had asked Lebanon for legal assistance as part of an investigation into “increased money laundering” and possible embezzlement of the Lebanese central bank, formerly known as Banque du Liban.

It wasn’t immediately clear whether Salameh was a suspect.

Tuesday’s news only deepens Salameh’s spectacular crash since late 2019, when Lebanon plunged into its deepest economic crisis since its 1975-1990 civil war. The Lebanese currency has since lost more than 80 percent of its value against the US dollar, and more than half of the population now lives in poverty.

Salameh has previously received numerous international bank awards and is a serious candidate for the country’s presidency. Since then, he has been targeted by anti-government demonstrators who, along with top politicians, blame him for the country’s financial collapse.

Meanwhile, the international community has made much-needed aid to Lebanon conditional on a forensic review by the central bank, which Salameh has been running since 1993.

The Swiss probe could still encounter obstacles in Lebanon. The court source said prosecutor Ghassan Khoury, who received the Swiss request, found a lack of evidence or evidence to justify the “detailed questions” the Swiss authorities are trying to ask Salameh and others.

Khoury could request more information before deciding whether to comply, the source said, noting that in 2020 Lebanon asked Swiss authorities for help with an investigation of an estimated US $ 2.4 billion that was made in the Protests of 2019 – transfers that circumvent unofficial capital controls were transferred outside the country.

Lebanon received no response at the time, the source said.

Colorado nabs $181 million in federal cash for COVID-19 testing – Canon Metropolis Every day File

Colorado receives $ 181 million from a United States National Coordination Unit for Disaster Relief State Support Program COVID-19 Test sites.

Governor Jared Polis and Colorado’s two US senators announced the new funding in a press release Tuesday morning. The money was expected but was delayed, according to the Democratic It is. John HickenlooperOffice.

“We have made one of the greatest public health surveillance efforts in our state’s history,” he said Sen. Michael Bennet, D-Denver. “This funding will help Governor Polis and our local health officials meet Coloradans’ testing requirements as we continue to fight this virus and reopen our economy.”

Colorado spent approximately $ 349 million in state and federal funds on COVID-19 testing from March to December 2020, according to a Polis spokesperson. FEMA is currently reimbursing 75% to the state and the governor’s office anticipates this will increase under Joe Biden’s new administration.

The state continues to urge Coloradans who need a test to get one. Information on test locations can be found here Here.

People are saving extra—what the cash is earmarked for

Families in the US are financially different – and so do they save. But across the board, save more today than ever before, be it for emergencies or for retirement.

The Federal Reserve Board’s recently released 2019 Consumer Finance Survey takes a 30-year look back at family finances to see how savings practices have changed. The data shows that Americans have better access to financial assets like bank and investment accounts, but it also shows that there are huge differences in who owns those assets and how much they are worth. While the data period doesn’t cover the current recession, it can provide clues as to where the saving habits could lead when looking back at the coronavirus pandemic and the economic ramifications it brings.

Why American families save

From 1989 to 2019, retirement and liquidity – with cash – were, in turn, the main reason American families saved up, according to the consumer finance survey. Liquidity has been the main driver since 2010.

See also: Mortgage rates are rising with the introduction of COVID-19 vaccines and stimuli

When unexpected bills, unemployment, or a pandemic strikes, having access to cash makes coping easier and keeps things safe. A common guide is to build up over time and eventually have three to six months of expenses rolled into one Emergency fund. And while only 63% of Americans could cover an unexpected $ 400 bill, according to the Federal Reserve Board, the fact that it exceeds the reasons for saving suggests that the lack of emergency money isn’t due to a lack of trying.

Take action

Savings that you can have quick access to in an emergency (cash) and money to live on in retirement are both very important, and they are two financial goals that can grow with you.

First, set aside cash for emergencies, whether it’s a month’s cost of living or a few hundred dollars if that’s more realistic given your income and expenses. Once you have an emergency fund in place, turn to your retirement savings and start or increase contributions as much as possible. If that looks good, turn back to liquidity and stash extra funds. In this way, you can gradually increase your financial security on both fronts over time.

Access to financial assets is growing, but unevenly

Over the past 30 years, the percentage of American families with financial assets – including checking and savings accounts, CDs, stocks and bonds, retirement accounts, cash-value life insurance, and more – has increased significantly from 89% to 99%.

The growth in the proportion of people in possession of these assets has been most significant among groups often left behind due to poverty and / or systemic racism, which resulted in, for example, wealth accumulation and income.

For example, the proportion of black families with financial assets rose from 64% to 98% over this 30-year period and from 69% to 96% of Latin American families. Even single parents have seen improved access to assets since 1989 – from 72% to 99%.

This growth is remarkable, but it doesn’t tell the full story. How much these families have in their bank accounts and pension funds is still far behind their white colleagues. In fact, the median 2019 median financial assets for white families is $ 49,500, compared to $ 5,500 for black families and $ 3,000 for Latin American families. The typical value of wealth for a single parent regardless of race is $ 4,000.

Take action

Saving and accumulating financial assets can be difficult when your income is low, debt is high, you do not have the same access to financial instruments and resources as others, or when you log out of the traditional banking system. Saving even a little can make a world of difference, however – a savings account balance of just over $ 100 is related to keeping utilities on and avoiding high-interest borrowing. This is based on research by SaverLife, a non-profit organization that helps families save. So put what you can on every paycheck, even if it looks like a drop in the ocean. If you set yourself small goals like $ 200 or $ 500, you can go ahead and rest assured you have a pillow to hand.

Pension funds hold most of the assets

The majority of American families’ financial assets – an average of 36% of them – are held in retirement accounts. Thirty years ago, only 21% of financial assets were in such accounts, just slightly more than transactional accounts such as checking and savings accounts.

Only 37% of American families had a retirement account in 1989, compared with 50% in 2019. This growth coincides with the growth in employer-sponsored pension funds like 401 (k) accounts and the replacement of pensions with 401 (k). s and privately held retirement accounts such as IRAs.

But not everyone has equal access to such accounts. For example, only 34% of single parents, 35% of black families, and 26% of Latin American families have a retirement account. That is compared to 57% of white families.

More:: 401 (k) and IRA balances have risen modestly, a key survey shows

In addition, the median value of the pension accounts for 2019 differs significantly depending on the population. Couples without children typically have $ 104,000 in their retirement accounts, compared to $ 67,500 in couples with children. Single parents with retirement accounts typically have $ 30,000.

The median balance of white families with such accounts ($ 80,000) is more than double that of black ($ 35,000) or Latin American ($ 31,000) families.

Take action

Once you have an emergency fund in place, it’s time to start saving for retirement. Do what you can as you can. And if your financial situation allows, do more.

If your employer offers 401 (k) matching, you are doing enough to take advantage of all of the free money. If this is not the case, you will have to set up and finance a retirement account yourself. Start somewhere: Putting a small portion of every paycheck into an IRA can build on it for years.

Regardless of your goals, saving is a lifelong journey. Your ability to accumulate financial assets, such as cash and retirement savings, depends on factors that you can immediately control, such as: Budgeting, and factors you may have less to say about, such as: B. How your neighborhood, education and race affect your economic mobility. Even your ability to control your budget depends on whether you even have enough money to manage it, and at a time of persistently high unemployment, many Americans struggle with it stretch every dollar. In such situations, even the smallest steps are progress and can form the basis for more economic security both when the next invoice is due and in the future.

More from NerdWallet

Elizabeth Renter writes for NerdWallet. Email: Twitter: @elizabethrenter.