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 ...

Core Insights - Many Americans are struggling with significant debt, with a lack of effective plans to manage or eliminate it [1][2] Debt Overview - A couple reported a combined debt exceeding $180,000, excluding their mortgage, with individual debts of $60,000 and $75,000 [2] - Monthly debt servicing costs for the couple range from $1,200 to $1,300, highlighting the burden of their financial obligations [3] Student Loan Challenges - A recurring issue among interviewees is student debt, often without a clear repayment strategy [4] - One individual mentioned having $35,000 in loans and $100,000 in private student loans, expressing a vague plan to work extra shifts to manage her debt [4] Positive Financial Behavior - A family of three successfully saved for their $8,000 Disney vacation, demonstrating a disciplined approach to finances by using only debit and avoiding credit cards [5]

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 ...

Core Insights - The credit card rewards landscape is changing due to economic uncertainty and new regulations, which may negatively impact consumers and the industry [1] Group 1: Credit Card Usage and Debt - In 2024, 81% of U.S. adults owned a credit card, equating to approximately 215 million individuals [1] - Nearly half of credit card holders carry a balance, with total credit card debt reaching a near-record $1.21 trillion as of Q2 2025 [1] Group 2: Role of Rewards in Consumer Behavior - Credit card rewards have significantly contributed to the industry's growth by attracting and retaining customers, often leading to increased debt [2] - Rewards function as a dual-purpose behavioral currency, providing both economic relief and emotional value to consumers [2] - The redemption of rewards has become a critical moment for consumer satisfaction, with the execution of the redemption process impacting customer experience [2] Group 3: Consumer Trends and Financial Management - Consumers, including middle-income earners, utilize rewards not only for managing spending and debt but also for maintaining their lifestyle [3] - By the end of 2022, consumers had accumulated reward balances exceeding $33 billion, highlighting the economic significance of these rewards [3]