For a lot of us, Christmas is effectively a financial D-Day. The average shopper shells out over $1,000 on Christmas presents. Unfortunately, huge chunks of the country don’t actually have enough disposable income to cover those gifts. That’s when we normally turn to plastic to get our holiday shopping over the finish line. But that creates new problems. Right around the time your tree is heading to the curb, ‌credit card bills start to pop up in your inbox. And regardless of how many zeros you see on th ...

Core Insights - Financial expert Suze Orman emphasizes the importance of setting realistic financial goals for the New Year to avoid falling into debt during the holiday season [2][3][4] Spending Trends - Americans are projected to spend an average of $1,595 this holiday season, with 45% of parents risking debt, contributing to a total of $263 billion nationwide [3][4] - The average credit card interest rate is reported at 21.39%, highlighting the high costs associated with carrying credit card debt [4][6] Financial Resolutions - Orman suggests that common New Year's resolutions should include saving money, paying off credit card debt, and investing for retirement [5][8] - The importance of investing is underscored, as Social Security only replaces about 40% of pre-retirement income, making it crucial to earn full employer matches [6][8] Personal Financial Goals - Individuals are encouraged to set specific financial goals, such as saving for a house or managing student loan debt, to improve their financial situation in the New Year [7]

The Fed just wrapped up its final meeting of the year and cut its benchmark rate by a quarter of a percentage point. [music] It's the third straight rate reduction this year. So, what does it mean for your money.I'm Sharon Eper, the senior personal finance correspondent at CNBC [music] and editor of the Money 101 newsletter. Just because the Fed cut rates doesn't mean your borrowing costs are going to automatically go down. Consumers with short-term variable rate debt, like credit card debt, will [music] se ...

Core Insights - The holiday season is causing financial stress for many American adults, leading to overspending and debt anxiety [1] Spending Behavior - 79% of surveyed adults plan to use credit cards for holiday expenses, with 52% not expecting to pay off their balances in full [2] - 39% of respondents regret their overspending during the holidays, and a quarter usually create a budget but struggle to adhere to it [3][4] Age-Related Trends - Younger adults (ages 18-34) are more likely to overspend and not stick to their budgets, with one-third admitting they probably won't follow their spending plans [5][6] - Limited life experience and increased social media usage contribute to younger adults' financial management struggles [7] Financial Management Strategies - Experts recommend creating a spending plan to avoid emotional and impulsive spending, which can lead to financial strain [8][9] - Key strategies include setting a budget, tracking spending, minimizing travel costs, and managing credit card debt effectively [11]

We serve a customer base we call the middle majority. They or if you think about credit, which we are a credit centric bank, if you've got a lot of money, you don't need a lot of access to credit. You pay cash for car, you save up to send your kids to college.If you're on the other end of the spectrum, you can't really access credit. So there's this middle group that are high income, heavy users of credit so they can afford a car, they can afford to send their kids to school, but they need to use credit to ...

Core Insights - Everyday financial habits can significantly impact wealth accumulation, often more than large expenditures or mistakes [1][2] - Many Americans are facing survival debt due to rising prices, which disproportionately affects the middle class [2] Group 1: Credit Management - Credit cards can be beneficial for managing income flow but can also lead to wealth depletion if not used wisely [3] - It is recommended to pay credit card bills in full each month to avoid interest charges [3] Group 2: Subscription Awareness - Many individuals overlook small charges from subscriptions, which can accumulate to significant amounts over time [4][5] - Regularly reviewing bank statements to cancel unnecessary subscriptions can free up funds for investments or savings [5] Group 3: Spending Habits - Impulse purchases, though seemingly minor, can collectively drain financial resources [6] - Establishing a monthly budget and cutting unnecessary luxuries can enhance wealth accumulation over time [6] Group 4: Savings Automation - Automating savings can be a powerful strategy for wealth accumulation, as highlighted by successful individuals like Mark Cuban [6]

Even with a decent income, many couples still struggle to pay off debt. It’s even harder if partners aren’t on the same page when it comes to money, causing anxiety and resentment. Must Read Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAP One Nashville couple, marri ...

Personal finance expert George Kamel of ‘The Ramsey Show’ recently hit the streets of Disney World in Orlando, Florida, to talk to everyday Americans about their debt. Despite the magic of Disney and the cheerful vacation vibe, Kamel quickly uncovered a more sobering reality: many people are drowning in debt, and few have a real plan to get out. ‘You’re Driving Most People’s 401(k)’ One of the most striking conversations came from a couple who revealed a combined debt total of more than $180,000, excludi ...

Billionaire entrepreneur and “Shark Tank” investor, Mark Cuban, is known for his blunt, no-fluff advice and surprisingly, much of it applies to people living on a tight budget. Cuban didn’t grow up wealthy, and he’s always emphasized simple strategies that anyone can follow, no matter their income. Trending Now: Warren Buffett: 10 Things Poor People Waste Money On For You: 6 Things You Must Do When Your Savings Reach $50,000 Below are seven of his most practical money tips, with advice that works even if ...

Americans love their credit cards — and the rewards that come with them. From cash back to airline miles, some people go all in, juggling multiple cards and tracking points just to score perks they might never splurge on otherwise, such as flying business class. In 2024, 81% of U.S. adults had a credit card, which translates to approximately 215 million people. (1) Must Read Almost half of cardholders carry a balance and, as of the second quarter of 2025, Americans were carrying a near-record total of $ ...