How To Follow The 50-30-20 Budgeting Strategy

This story is part of CNBC Make It’s One-Minute Money Hacks series, which provides easy, straightforward tips and tricks to help you understand your finances and take control of your money.

Managing your finances and setting a monthly budget can be challenging. But if you’re overwhelmed with where to start, the 50-30-20 strategy can simplify the process. The plan divides your income into three broad categories: necessities, wants, and savings and investments. Here’s a closer look at each.

50% of your paycheck should go toward things you need

This category includes all of your essential costs, such as rent, mortgage payments, food, utilities, health insurance, debt payments and car payments. If your necessary expenses take up more than half of your income, you may need to cut costs or dip into your wants fund.

20% of your paycheck should go toward savings and investments

This category includes liquid savings, like an emergency fund; retirement savings, such as a 401(k) or Roth IRA; and any other investments, such as a brokerage account. Experts typically recommend aiming to have enough cash in your emergency fund to cover between three and six months worth of living expenses.

Some also suggest building up your emergency savings first, then concentrating on long-term investments. And if you have access to a 401(k) account through your employer, it can be a great way to save a portion of your income pre-tax.

30% of your paycheck should go toward things you want

This final category includes anything that isn’t considered an essential cost, such as travel, subscriptions, dining out, shopping and fun. This category can also include luxury upgrades: If you purchase a nicer car instead of a less expensive one, for example, that dips into your wants category.

There isn’t a one-size-fits-all approach to money management, but the 50-30-20 plan can be a good place to start if you’re new to budgeting and are wondering how to divide up your income.

Nadine El-Bawab

By: Nadine El-Bawab / @nadineelbawab

Source: How to follow the 50-30-20 budgeting strategy

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Critics:

While that may not be realistic, there are some simple things you can do right now to improve your money situation. Try these five steps for successfully managing your personal finances. Another bonus? If you stick to these five tips, your financial problems may start to diminish, and you can start reaping the rewards of lower debt, saving for the future, and a solid credit score.

Take some time to write specific, long-term financial goals. You may want to take a month-long trip to Europe, buy an investment property, or retire early. All of these goals will affect how you plan your finances. For example, your goal to retire early is dependent on how well you save your money now. Other goals, including home ownership, starting a family, moving, or changing careers, will all be affected by how you manage your finances.

Once you have written down your financial goals, prioritize them. This organizational process ensures that you are paying the most attention to the ones that are of the highest importance to you. You can also list them in the order you want to achieve them, but a long-term goal like saving for retirement requires you to work towards it while also working on your other goals.

Below are some tips on how to get clear on your financial goals:

  • Set long-term goals like getting out of debt, buying a home, or retiring early. These goals are separate from your short-term goals such as saving for a nice date night.
  • Set short-term goals, like following a budget, decreasing your spending, paying down, or not using your credit cards.
  • Prioritize your goals to help you create a financial plan.

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10 Smartphone Tips Every iPhone and Android Owner Needs To Know

Some of the most useful smartphone features are hidden away in your settings menu, which means you might not have tried them out yet. To help you get more from your mobile, we’ve rounded up 10 need-to-know tips. Whether you’re using an Apple iPhone or an Android smartphone, you can easily configure your gadget so that it bats away scam texts or helps you reduce your screen time.

If you want to make better use of your phone, have a look at our advice on dealing with distractions, improving usability and keeping your personal information secure. Which? Best Buy mobile phones – if you’re due an upgrade, consult our expert reviews to see which phones have aced our tests Smartphone tips for iOS and Android

1. Silence annoying notifications

If you have lots of different apps installed on your smartphone, it might be beeping and buzzing more often than you’d like. To stop your phone lighting up with notifications every hour of the day, take a trip to settings and decide which app alerts are genuinely important. Turn off notifications on iOS – Go to Settings > Notifications to show the list of apps. Click on each app to turn off notifications and change the alert settings. Turn off notifications on Android – Open the Settings app, go to Apps & notifications > Notifications to take control.

2. Use Do Not Disturb mode for some peace and quiet

With Do Not Disturb turned on, you can temporarily disable notifications at specific times. You can still allow calls from certain numbers even while it’s enabled, or have it turn on automatically when you’re driving. Turn on Do Not Disturb on iOS – Go to Settings > Do Not Disturb and turn on or off and find other settings. Turn on Do Not Disturb on Android – Open Settings, then go to Apps & notifications > Notifications > Advanced. Tap on Do Not Disturb to get started.

3. Cut down on your screen time

With many of us still working from home, it can be hard to mentally switch off after a long day of work. If you’re worried about how much time you’re spending on your phone, you can track your app usage. Parents might also want to use this feature, also known as ‘Digital Wellbeing’, to monitor how often their little one uses their own smartphone. Track screen time on iOS – Go to Settings > Screen Time to see daily and weekly use tallies, time on apps and even set a screen time passcode for children’s devices. Track screen time on Android – Open the Settings app and select Digital Wellbeing to set time limits or use tracking.

4. Adjust screen brightness to protect your eyes in low light

Most modern smartphones now have a feature that can reduce levels of blue light thought to interfere with sleep. If you’re using your smartphone in a dimly lit room, you might want to give it a try. Adjust brightness on iOS – Go to Settings > Display & Brightness to adjust brightness, light and dark screen, background and night-time settings. Adjust brightness on Android – Open the Settings app and tap Display for brightness levels, night settings and adaptive mode that automatically adjusts the screen to your surroundings. If you just want to adjust brightness, pull down the notification shade and slide the bar at the top.

5. Increase text size and strength

If you’re straining your eyes to read from your smartphone screen, you can increase text size in just a couple of taps. Increase text size on iOS – Go to Settings > Display & Brightness and Text Size to adjust the size, turn on Bold Text settings and adjust the display to zoomed, to enlarge text and app display size. Increase text size on Android – Open the Settings app, then select Display to adjust font size.

6. Delete apps and organize apps into folders

Setting aside some time to tidy up your smartphone can make it easier to find your most used apps. We suggest you try a bit of digital housekeeping to remove unused apps (they take up space on your phone) and organise the apps that you’re keeping into labelled folders. Delete apps on iOS – Hold down the app’s icon on your home screen and click Delete App to remove or Edit Home Screen to remove multiple apps, or hold and drag into a folder. Delete apps on Android – Click and hold on an app’s icon and go to App Info > Uninstall.

7. Block unwanted contacts and nuisance calls

Suffering from a constant barrage of phishing texts or spam phone calls? Blocking these numbers is straightforward and it’ll stop you from being tricked into handing over personal information. Block numbers on iOS – Click the Phone app, go to Recent and press the i icon on the right. Scroll down and click Block this Caller. Block numbers on Android – Open the Phone app and select Recent. Hold on the number and from the pop-up menu, choose Block/ Report Spam.

8. Decide which apps can access your location

Location tracking is vital for GPS and mapping, but not every app needs to use it. In fact, if you download an app that requests unusual permissions considering its primary function, that’s a red flag. For example, a calculator app shouldn’t want access to your camera. You can allow an app one-off access to your location later if it needs it. To manage location settings, follow these steps: Location settings on iOS – Go to Settings > Privacy > Location Services to toggle GPS, Bluetooth, wi-fi hotspot and mobile tower tracking. For individual apps, select an app and set the permission. Location settings on Android – Open the Settings app and select Location > App permission to review and adjust the permission status for each installed app.

9. Use two-factor authentication (2FA) to protect your online accounts

Two-factor authentication (2FA) is essentially an extra layer of security for your online accounts. It usually means that a unique code is sent to your phone, which you then enter after your password to confirm it’s you. Use two-factor authentication on iOS – Go to Settings and select your name > Password & Security to turn 2FA on or off. Use two-factor authentication on Android – Go to your Google Account settings at myaccount.google.com > Security. Select Google > 2-Step Verification, click On and follow the steps. For more details, see our guide: What is two-factor authentication and should you use it?

10. Make an emergency call

If you haven’t configured your emergency call settings, there’s no time like the present. Doing so means you can quickly contact the emergency services without having to flick through your contacts. Emergency calls on iOS – Go to Settings > Emergency SOS to turn on or off Auto Call. In an emergency, press the sleep/wake button five times to call an emergency number automatically, or after countdown, depending on Auto Call setting. Emergency calls on Android – Hold down the power button and from the menu, click Emergency > Emergency Information to add contacts and any relevant health information.

By Rosalyn Page

Source: 10 smartphone tips every iPhone and Android owner needs to know – Which? News

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Critics:

In mobile phones released since the second half of the 2010s, operational life span commonly is limited by built-in batteries which are not designed interchangeable. The life expectancy of batteries depends on usage intensity of the powered device, where activity (longer usage) and tasks demanding more energy expire the battery earlier.

Lithium-ion and Lithium-polymer batteries, those commonly powering portable electronics, additionally wear down more from fuller charge and deeper discharge cycles, and when unused for an extended amount of time while depleted, where self-discharging may lead to a harmful depth of discharge.

The functional life span of mobile phones may be limited by lack of software update support, such as deprecation of TLS cipher suites by certificate authority with no official patches provided for earlier devices.

See also

COVID-19 Vaccines Don’t Contain Magnetic Ingredients; Dose Volume is Too Small To Contain Any Device Able To Hold a Magnet Through The Skin

https://i1.wp.com/onlinemarketingscoops.com/wp-content/uploads/2021/06/vaccine-magnetic_myth.png?resize=851%2C569&ssl=1

Around mid-May 2021, multiple videos (examples here, here, and here) claimed that COVID-19 vaccines caused magnetic reactions in vaccinated people. The videos purportedly showed that magnets attached to the arm where people received a COVID-19 vaccine, but not to the unvaccinated arm. The so-called “magnet challenge” went viral across social media platforms, including Instagram, Facebook, and Twitter, receiving hundreds of thousands of interactions.
While some posts didn’t try to explain the phenomenon, others claimed that COVID-19 vaccines contained metals or microchips that attracted the magnets. None of the videos provided verification that the people appearing in them were actually vaccinated against COVID-19. Regardless of whether they received the COVID-19 vaccine or not, the claim that COVID-19 vaccines “magnetize” people is inaccurate and unsupported by scientific evidence, as we explain below.

None of the authorized COVID-19 vaccines contain magnetic ingredients

All materials react to magnetic fields in some way. However, these magnetic forces are, in general, so weak that most of these materials are effectively non-magnetic. Only a few metals, including iron, cobalt, nickel, and some steels, are considered truly magnetic and are attracted to magnets.

Lists of the ingredients in all the COVID-19 vaccines authorized for emergency use by the U.S. Food and Drug Administration (FDA) are publicly available. The mRNA COVID-19 vaccines from Pfizer and BioNTech and Moderna contain mRNA, lipids, salts, sugar, and substances that keep the pH stable. The COVID-19 vaccine from Johnson & Johnson contains an adenovirus expressing the SARS-CoV-2 spike protein, amino acids, antioxidants, ethanol, an emulsifier, sugar, and salts. None of these ingredients are metals, and therefore, none of them are magnetic.

The Oxford/AstraZeneca COVID-19 vaccine contains similar ingredients to the Johnson & Johnson vaccine, but includes magnesium chloride as a preservative. Although magnesium is a metal, it is also non-magnetic, both in its elemental form and as magnesium chloride salt. In fact, higher amounts of magnesium are naturally present in the body, in many foods, and in dietary supplements, and they don’t cause magnetic reactions in people.

Finally, the volume of a COVID-19 vaccine dose is very small, ranging from 0.3 ml in the Pfizer-BioNTech vaccine to 0.5 ml in the Moderna and Johnson and Johnson vaccines. According to experts, even if the vaccines contained a magnetic ingredient, the total amount would be insufficient to hold a magnet through a person’s skin. Michael Coey, a physics professor at Trinity College Dublin, explained to Reuters:

“You would need about one gram of iron metal to attract and support a permanent magnet at the injection site, something you would ‘easily feel’ if it was there […] By the way, my wife was injected with her second dose of the Pfizer vaccine today, and I had mine over two weeks ago. I have checked that magnets are not attracted to our arms!”

This Instagram video illustrates how a magnet (or any other small object) can stick to people’s skin without the need for any magnetic force.

Claims that COVID-19 vaccines contain microchips are unfounded

The claim that COVID-19 vaccines are magnetic because they contain microchips or tracking devices traces its roots to a conspiracy theory that has persisted throughout the pandemic. Despite being debunked many times, the baseless theory that COVID-19 vaccines include secret devices for tracking the population emerges from time to time in different forms.

Such claims led the U.S. Centers for Disease Control and Prevention (CDC) to explain on its website that COVID-19 vaccines don’t contain microchips or tracking devices:

“No, the government is not using the vaccine to track you. There may be trackers on the vaccine shipment boxes to protect them from theft, but there are no trackers in the vaccines themselves. State governments track where you got the vaccine and which kind you received using a computerized database to make sure you get all recommended doses at the right time. You will also get a card showing that you have received a COVID-19 vaccine.”

The claims that the COVID-19 vaccines contain magnetic microchips are incorrect for multiple reasons. First, any microchip contained in a COVID-19 vaccine would need to be small enough to fit through the syringe needle. Vaccination generally uses 22 to 25-gauge needles. “Gauge” indicates the size of the hole that runs down the middle of the needle.

The higher the gauge, the smaller the hole. These needles have a maximum inner diameter of 0.5 mm. Current microchips aren’t small enough to fit through the syringe needle. Second, even if a microchip of that size exists, it would be too small to hold a magnet through the skin, for the same reasons explained by Coey above.

Finally, all COVID-19 vaccines are supplied in multidose vials containing five to 15 doses, depending on the manufacturer (see dosing information from Pfizer and BioNTech, Moderna, and Johnson & Johnson). This would make it impossible to guarantee that all individuals receive a chip. Some people could receive several chips, while others receive none. Furthermore, many of the devices would likely remain in the vial or get stuck in the syringe.

Conclusion

Claims that COVID-19 vaccines cause magnetic reactions are unsubstantiated and implausible. COVID-19 vaccines authorized for emergency use by the FDA don’t contain metals or other magnetic ingredients that could cause a magnetic reaction in vaccinated individuals. Furthermore, no component or microchip that fits in the volume of a COVID-19 vaccine dose would be strong enough to hold a magnet through the skin.

By:

Source: COVID-19 vaccines don’t contain magnetic ingredients; dose volume is too small to contain any device able to hold a magnet through the skin – Health Feedback

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Curious About Crypto? Here’s What 10 Financial Experts Think

A photo to accompany a story about financial experts' advice for investing in cryptocurrency

Everyday investors are overflowing with cryptocurrency questions, according to the financial advisors hired to answer them.

There is clearly an “emotional euphoria that seems to be sweeping through the public around cryptocurrency,” says Frederick Stanfield, a CFP with Lifewater Wealth Management in Atlanta, Georgia.

But for the average person focused on retirement planning and financial stability, is it time to consider investing in cryptocurrency?

The answer is complicated, so we asked financial advisors for their crypto advice, and here’s what 10 of them are telling clients. In an emerging field with few set rules and norms, we discovered some universal truths that everyone should know before putting money in cryptocurrency.

First of all, financial advisors say a healthy dose of skepticism is a crucial place to start, and you should never invest in crypto if it takes away from other goals and financial fundamentals like paying off debt, building an emergency fund, or maxing out your retirement accounts.

As difficult as it may be, do not become seduced by the intrigue and allure of this new technology, says Stanfield. Instead, employ the same mindset you bring to your regular investment strategy.

Here’s what else the experts want you to know about cryptocurrency investing:

Be Prepared for Loss

As with any investment, financial gains are far from guaranteed with cryptocurrency investing. For some financial advisors, crypto looks more like a lottery ticket than an investment strategy.

That means you should only put in what you’re OK with losing. “On a spectrum between gambling and investing, I think it’s closer to the former,” says Matt Morris, principal advisor at Sanderling Finance in Columbia, South Carolina.

As a high-risk, high-reward investment, keep any crypto investments in perspective amid your broader goals and finances. As with certain types of gambling, “you have a high chance of losing it all, but a small chance of winning it big,” says Nate Nieri, a CFP with Modern Money Management in San Diego, California. “Just don’t gamble an amount that would burden your family or prevent you from achieving your goals” if you lost it all.

Steer Clear if You’re Risk Averse

If you’re risk averse, crypto isn’t the investment for you.“How well can you sleep at night knowing that this is an emerging asset class with high volatility? And if you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?” asks Stanield.

If you’re going to be constantly stressing about your crypto investment, or tempted to change your investments in light of the volatility that comes with crypto, then you’re better off putting your money in a more stable investment, according to Stanfield.

“I believe it is still in its infancy stage, and just like any new fund or IPO, there is a level of uncertainty about the future that I’m not ready to stomach,” says Alajahwon Ridgeway, owner of Ridgeway Wealth Management in Lafayette, Louisiana. “I believe it … is an unnecessary risk at this point for my clients to reach their financial goals.”

There’s also far less historical data available about cryptocurrency to help investors make informed decisions — unlike conventional ETF and index/mutual funds. Crypto investors face additional risk in the form of poor or inaccurate trade data, competition among fellow investors, theft, loss of wallet passwords, supply and demand issues, government regulation, and energy consumption concerns, says Chelsea Rude, a CFP at Rude Wealth Advisory in Olney, Illinois.

“Most importantly for investors, there is a lack of a well designed and tested way to value the assets,” Rude says. This means crypto investors are essentially going in blind, and subjecting themselves to the uncertainty that comes with any new business or investment

Know Why You’re Interested In the First Place

Some people see crypto as an emerging investment, while others see it as an interesting new global currency you can use instead of the U.S. dollar or other international currencies. But whether crypto has long-term staying power on either front is still uncertain.

“I strongly believe the vast majority of people who own crypto currency are doing so for all the wrong reasons and misunderstanding what they are truly buying,” says Ben Lies, chief investment officer at Delphi Advisers.

Many experts are concerned about people dumping their money into crypto without real understanding of the area. Do your own research, and make sure you’re thinking about your investment in the right way.

“Hype and excitement around the space are not reasons for inclusion into any portfolio, but I believe there are compelling reasons to consider cryptocurrencies,” says James Vermillion, owner of Vermillion Private Wealth in Lexington, Kentucky. “When discussing crypto with clients I emphasize education and understanding. It’s important to note that there are thousands of cryptocurrencies in existence and they are not created equally. Due diligence is important, just as it is when looking at stocks or other investment vehicles.”

Nieri warns those who see Bitcoin as a currency to think about what that means for investing. “I don’t typically trade or have a currency hedge as part of my investment strategy. Would you have ever thought about trading dollars for Euros as an investment? In order for Bitcoin to be a legitimate currency, the world’s governments would need to accept it as a global currency, something that has a remote likelihood,” Nieri says.

Keep Crypto In Its Place

Don’t rely on crypto investments for your retirement or overall financial strategy. Make sure the majority of your investment portfolio is made up of stable assets projected for long-term growth.

“What I am sharing for [my clients] to do is build their future financial pie with investments such as stocks and bonds. If there is extra money they want to play with, buying crypto is an option,” says Eric Powell, financial advisor and founder of the Future Mill.

Make sure your overall investment portfolio is predominantly made up of conventional investments like stocks and bonds, says Powell. But within any crypto investments you might have, experts recommend sticking with the big names.

“I personally do not go beyond Bitcoin and or Ethereum,” says Michael Kelly, a CFA at Switchback Financial in Madison, Connecticut.  “I feel those two have a bit more of an established base and feel the risk of other coins becomes too significant.”

By:

 

Source: Curious About Crypto? Here’s What 10 Financial Experts Think | NextAdvisor with TIME

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Decentralized finance (commonly referred to as DeFi) is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.[1] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts.[2]

DeFi uses a layered architecture and highly composable building blocks.[3] Some DeFi applications promote high interest rates[2] but are subject to high risk.[1] By October 2020, over $11 billion (worth in cryptocurrency) was deposited in various decentralized finance protocols, which represented more than a tenfold growth during the course of 2020.[4][2] As of January 2021, approximately $20.5 billion was invested in DeFi.[5]

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References

Braun, Alexander; Cohen, Lauren H.; Xu, Jiahua (May 2020). “fidentiaX: The Tradable Insurance Marketplace on Blockchain”. Harvard Business School. Retrieved 2021-01-05.

Are You Prepared for the Coming Existential Crisis

Many people have, throughout their lives, experienced varying degrees of existential angst: the feeling of being some combination of unmoored, bored, anxious, restless, depressed, lost, isolated, and/or alienated, and simply wondering what it’s all about.

For many too, these feelings of existential angst have been exacerbated over the past pandemic-burdened year. Yet, heightened though these feelings may have been, they may have also, in a strange way, been easier to deal with during this period than they were prior to its start — and still easier than they’ll be after it’s through.

One of the most difficult things about existential angst, is that it can be isolatingly individual, of indeterminate length, with a cause, and solution, that is vexingly difficult to pin down. During the pandemic, however, the cause of one’s angst became external, clear, tangible, and universal, with an end date that was at least (semi) defined. People could point to the pandemic and say, “That’s why I’m feeling off,” and reason to themselves: “Once x, y, and z return to normal, then I’ll feel fine.” This buttressing, in the form of having a definable explanation for one’s malaise, thus allowed for that malaise to be both more acute and easier to bear.

In the post-COVID landscape, feelings of existential angst may return to their pre-pandemic levels, and yet are likely to stand out in starker, more disorienting relief than ever. When a weight once wholly carried, is for a time buttressed by supports, but then loses those supports, the original weight feels heavier than before.

This hypothesis may seem off the mark at the moment. Hope and optimism are in the air; a light at the end of the tunnel is warming the blood. We feel certain that a resumption in indoor dining, and parties, and travel will entirely eliminate our feelings of existential angst. And indeed they will, for a time. When the dopamine that accompanies novelty (or the re-novelization of old habits) surges, we’ll be all aglow with anticipation and excitement and momentum.

But when that parabolic arc of dopamine hits its peak and begins its descent — which it always, always does — we’ll recognize the old feelings of angst again, once more shorn of any ready-made concrete cause. And the re-realization that visits to the local ramen bar and trips to Hawaii don’t resolve the desire for greater meaning, the resettling of the full weight of yearning on the soul, may usher in a widespread existential crisis.

When it comes to “emergency prep,” we prepare for natural disasters by building bug out bags, prepare for a breakdown of the utility grid by storing up a long-term water supply, and will one day ready ourselves for the possibility of a future pandemic by . . . buying toilet paper? But are we preparing for a potential existential emergency? Is there any way to prepare for such a crisis?

Perhaps the best form of preparation is simply to accept that while existential angst may lessen and deepen according to one’s external circumstances, it will never entirely go away. To accept that restlessness is intrinsic to the human experience. That we are, as Kierkeegaard argued, made up of both the infinite and the finite, and that these two parts of our nature will always be in conflict and never entirely fit together in a neat, tensionless way.

While existential restlessness can never be extinguished, it can be tamed. The other part of existential emergency prep, then, is to start asking bigger questions, studying profounder writings and ideas that may furnish tools on how to get a handle on things. Ironically, while your angst may have gotten deeper during the pandemic, your media consumption may have gotten shallower; more Netflix, more Twitter scrolling, more headline scanning. Less pearl diving.

To avoid emerging from a health crisis, only to step into an existential one, reverse that trend and start getting into heartier fare. Start stocking your existential cupboard with sustaining insights and perspectives that transcend this moment of time. And start equipping your philosophical first aid kit with supplies that will help you survive whatever moments come next — daily habits in thinking and doing that point not only beyond restaurant-dining and world-traveling, but beyond the narrow, and ultimately unsatisfying, confines of the self.

By: Brett and Kate McKay

Source: Are You Prepared for the Coming Existential Crisis? | The Art of Manliness

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People often speak of going through an ‘existential crisis’; but what do they really mean by the term? And when can it be useful to have it to hand? To undertake the journey of self-exploration the Existentialists thought crucial, take a look at our “Know Yourself” cards: http://bit.ly/29NH4Px Watch more films on SELF in our playlist: http://bit.ly/TSOLself If you like our films, take a look at our shop (we ship worldwide): http://bit.ly/29kPm2S FURTHER READING
You can read more about self and other topics on our blog TheBookofLife.org: http://bit.ly/29weaXW SOCIAL MEDIA Feel free to follow us at the links below: Facebook: https://www.facebook.com/theschoolofl… Twitter: https://twitter.com/TheSchoolOfLife Instagram: https://www.instagram.com/theschoolof… CREDITS Produced in collaboration with Damn Fine Media http://www.damnfinemedia.co.uk #TheSchoolOfLife

 

Gilead Testing Inhaled Form Of Remdesivir That Could Be Used To Treat Covid-19 Outside Hospital

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Gilead is launching a phase 1 clinical trial of an inhaled version of remdesivir, a drug used to treat Covid-19, that could be administered to patients outside of the hospital, it said in a statement released Wednesday.

KEY FACTS

Though there are no drugs approved by the FDA to treat Covid-19, Remdesivir is one of the more promising candidates and was granted an Emergency Use Authorization in May to treat patients with severe cases of the disease.

In the hospital remdesivir is given intravenously, but the new trial will test whether it is effective if breathed directly into the lungs.

The medication would be given to patients through a nebulizer, a device commonly used to treat asthma that turns liquid medication into a breathable mist.

 

If inhaled remdesivir is successful, it could be an at-home or doctor’s office treatment for patients who are not sick enough to need hospitalization, but still could benefit from medication.

The new trial will include approximately 60 adults, and will test first for safety and tolerability of the inhaled medication.

 

Key Quote

“Based on current scientific understanding, the upper respiratory tract is the most prevalent site of SARSCoV-2 infection early in disease,”  said Gilead’s Chief Medical Officer Merdad Parsey in a statement. “Delivering remdesivir directly to the primary site of infection with a nebulized, inhaled solution may enable more targeted and accessible administration in non-hospitalized patients.”

Background

While many medications have been tested to see if they can treat Covid-19, almost none have been successful so far. Some studies have shown that remdesivir, an antiviral medication developed by Gilead, can help patients recover faster from severe Covid-19 in the hospital — but more research still needs to be done. One study found that patients treated with remdesivir recovered from Covid-19 about four days faster than those treated with a placebo, and had a 7.1% risk of mortality compared to 11.9%. In early June, the U.S. received criticism for buying the world’s supply of the drug, leaving some to wonder what other countries would do if they need it for Covid-19 treatment. Late last month the pricing of remdesivir was revealed: private insurance companies in the U.S. will be charged $3,120 for a course of treatment, or $520 per vial.

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I am the assistant editor of healthcare and science at Forbes. I recently graduated from UC Berkeley with a Master’s of Journalism and a Master’s of Public Health, with a specialty in infectious disease. Before that, I was at Johns Hopkins University where I double-majored in writing and public health. I’ve written articles for STAT, Vice, Science News, HealthNewsReview and other publications. At Forbes, I cover all aspects of health, from disease outbreaks to biotech startups.

Source: http://www.forbes.com

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