Bitcoin's halving event is expected to happen this weekend. Read on to learn why some crypto enthusiasts are excited and why others are skeptical about what this means for its value. Additionally, is the 60/30/10 rule the new 50/30/20? Plus, key findings from a recent financial literacy report. 

Bitcoin's Halving

Cryptocurrency enthusiasts have been looking forward to the next Bitcoin halving event, which is expected to happen this weekend. The halving is a scheduled reduction in the number of new Bitcoin that go into circulation. As the supply falls, some analysts anticipate that the digital currency’s price will soar. (New York Times)

The halving's purpose is to gradually reduce the rate at which new Bitcoins are generated, ultimately capping the total supply at 21 million. (Business Insider)

The market is split on whether Bitcoin could be in for another big rally. Some Bitcoin enthusiasts say that Bitcoin's enhanced scarcity gives it extra value. However, some analysts say the impact of the halving could have already been priced into Bitcoin's recent all-time high. (Reuters) 

>Want to better understand how Bitcoin works? Check out our On-Demand module, The Basics of Bitcoin.

>An activity to use with your class: DEBATE: Should You Buy Cryptocurrency?

Cost of Living

Federal Reserve Chair Jerome Powell said this week that there's been a lack of progress so far this year on returning to the goal of 2% inflation. (CNBC)

With rent increases outpacing salary increases, particularly in high cost of living areas, some financial planners are saying a 60/30/10 budget could be the new 50/30/20. (Time)

According to a new analysis by SmartAsset, in order to stick to the 50/30/20 rule, a single person will need to earn over six figures to live comfortably in the most expensive U.S. states (CNBC)

>To learn more about different ways to budget, complete the On-Demand module, Popular Budgeting Methods & Strategies.

>An activity to use with your students: MOVE: Build Your Budget

Financial Literacy Month News

The 2024 Financial Literacy and Retirement Fluency report from the Global Financial Literacy Excellence Center was released this week. It found that only about one half of U.S. adults can correctly answer  the index questions. The figure is even lower among some demographic groups, such as women, Blacks and Hispanics, and younger adults. Your work to help the next generation start adult life with financial knowledge is critical to improving these numbers. 

About the Author

Hannah Rael

As NGPF's Marketing Communications Manager, Hannah (she/her) helps spread the word about NGPF's mission to improve the financial lives of the next generation of Americans.

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