Money Matters: World news impacts money at home

Education Resources,

It’s been a big week for world news – so big that some stories, like Brexit Day finally arriving – have slipped a bit under the radar.

Brexit has been overshadowed by the week’s biggest international story, the coronavirus, now considered a global health emergency by the World Health Organization.

But both these stories have potentially important implications for news consumers in the U.S. – including on their wallets.

What impacts could the exit of Great Britain from the European Union have on U.S. consumers? A transition period begins now as the U.K. must establish new trade deals with its biggest trading partners, including the newly shrunk E.U. and the U.S. Keep an eye on out through the end of the year to see how this will affect trade and travel in particular.

The major story this week has been the coronavirus, now a global health emergency. The virus, which originated in China, has begun to spread and impact travel, trade and economies around the world. Consumer reporters have a role to play here in helping audiences understand these implications. For example, we’ve talked before about how consumer reporters can provide important context during volatile stock markets.

The worry and anxiety the spread of the new virus is fueling is also fueling scams. Scammers often prey on fear to offer supposed solutions. Consumer reporters can keep an eye out for false or misleading claims about preventing or stopping the spread of the virus, while saving audiences money on dubious products.

Consumer reporters can also provide some education to viewers, including those who may not be directly affected, on international travel and health insurance. Several stories of U.S. residents travelling in China’s most affected areas and struggling to return have emerged this week. What should anyone travelling abroad know to prepare for the possibility of getting sick abroad?

Weekly Money Matters personal finance content for your newsroom is sponsored by the National Endowment for Financial Education