One killed as tornadoes and thunderstorms hit US


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One person was killed after tornadoes and thunderstorms hit the US Midwest and South, leaving dozens of homes badly damaged.

The National Weather Service said multiple tornadoes were reported on Sunday afternoon in central Indiana.

Emergency officials from Martin County in Indiana confirmed that one person had died in the state. Emergency Management director Cameron Wolf said the victim's injured partner was airlifted to hospital.

The pair lived in a two-storey log cabin that was destroyed in the storms. Further details were not immediately available.

Mr Wolf said in an interview with PBS on Monday that the damage was “random” and “kind of widespread.” He confirmed that the storm caused more damage in the countryside adding that towns were not hit as hard by the storms.

Local media footage and images showed the extent of the damage with fallen trees, blocked roads and damage to homes. A large hail storm was also reported in Indiana and adjacent states, officials said.

Fire chief Eric Funkhouser from Bargersville, south of Indianapolis, said that while no casualties were reported, about 75 homes sustained moderate to severe damage after the weather.

Emergency shelters were set up in central Indiana for those whose homes were damaged or destroyed.

Half a million people were left without power or faced significant power cuts due to the weather, according to PowerOutage.us.

At least one person died and about two dozen people were injured after a tornado hit central Mississippi last week.

A dangerous heatwave was thought to have helped spawn deadly tornadoes in Texas and Florida this month, where at least four people were killed in storms. Flooding also forced almost 150 people out of their homes.

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Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

Updated: June 26, 2023, 1:30 PM