🎅🏻 Ho ho…no?

Stat Of The Day

1 in 4

Ho ho…no? A new study from the University of Michigan shows that 1 in 4 parents have threatened to cancel Christmas over their children’s not-so-nice list-worthy behavior. A good way to save on gifts? Too Grinchy? You be the judge.

This Week In Your Wallet

Deck the halls and fill the glasses. From now through NYE, holiday gatherings will kick into high gear. If you’re bringing a bottle of wine, you can still appear bougie, without breaking the bank. Here’s HerMoney’s guide to choosing the best bottle of wine to bring to a holiday party. You can DIY it, too, with a hot mulled wine that’s cheap and easy to make. "Grab a bottle of inexpensive dry red wine, 3/4 cup of sugar, orange slices and a spice packet," writes Katie Hendley. "Put these along with a cup of water into a saucepan with a lid and allow to simmer, but not boil. You can fortify this further with a shot of brandy, vodka or rum." For the sober curious and alcohol-free among us, here are 21 tasty (and stunning) holiday mocktails. We’ll take a Pamplemousse La Croix and lavender mocktail – please and thank you.

Is your ‘tipping fatigue’ taking a holiday hiatus? You aren’t alone. A new survey from Bankrate shows this year, more people plan to tip important people in their lives – for example, housekeepers, childcare providers, teachers and trash/recycling collectors – than in years past. The amount they’re willing to tip, though, has essentially remained flat, with one exception. "It's still true that Gen Zers and millennials are worse tippers at restaurants and other year-round tipping venues," Ted Rossman, Bankrate Senior Industry Analyst, tells USA Today. "But when it comes to the holidays, young adults are the most generous tippers."

2024 was a banner year for the markets. What can we expect in the New Year? Prepare for a "wilder ride," predicts Barrons. "There is a good chance the S&P 500 will gain far more than Wall Street expects due to the combination of the incoming Trump administration’s deregulation drive and the continued advance of artificial intelligence," writes Ben Levisohn. "Either one on its own would probably be enough to push the market higher. Together they could act as rocket fuel and send stocks into the stratosphere—or, up 15% to 25%." If you’re looking for a buddy to ride the market waves with, we got you. InvestingFixx, HerMoney’s investing club for women, meets 2x per month to talk all things investing. Join us here – your first month is free!

Things That Save You Money

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Chrismukkah Eve grocery shopping, but make it frugal. Here are 8 groceries that penny-pinchers buy for their holiday dinners, including bottled mixers instead of the cute – but pricey – canned ones.

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"It's Christmas Eve, gonna relax…turn down all of my invites." Or so the Waitresses sang in their famous, can’t-get-it-out-of-your-head holiday tune. Turns out, there’s a financial upside to saying ‘no’ this time of year. Here’s how to do so, politely.

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Wrapping up your wrapping? Don’t throw away your scraps. Tuck them away for next year, with these expert organizing tips.

Ask Jean

I got in over my head with credit card debt. Long story short, I won’t be using my credit cards anymore but should I close them? I’ve heard your credit score can take a hit if you do.

First off, good for you for getting a plan together for paying off your debt. Second, it seems as though you’ve recognized cutting ties with your credit cards is in your best interest to avoid overspending in the future. That’s a win, too.

While it might be tempting to close your credit cards once you’ve paid them off and gotten them down to a zero balance, closing them could damage your credit score. "The longer you hold a card, the more valuable it is in your credit card score determination," Kevin Gallegos, credit and debt expert and vice president of Phoenix operations at Freedom Financial Network tells HerMoney. While closing a card won’t damage your credit score forever, it is a particularly important consideration for people who may be using their credit score in the near future to buy a house, a car, or secure another type of loan.

If you’re trying to curb impulse spending, you can make your credit cards less accessible by putting them in a safe, giving them to someone you trust or placing them in a bowl of water and (literally) freezing them. "The time it takes to thaw out your credit card may deter your impulse spending," Gallegos adds.

Submit your questions to Jean here.

More For You To ♥

🧹 No, it’s not as morbid as it sounds. "Swedish death cleaning" simply invites us to be thoughtful about what we want to keep in our homes. Psychologist and Swedish death cleaning expert, Katarina Blom, explains how to do it right on the latest HerMoney Podcast*. The HerMoney Podcast is made possible by Edelman Financial Engines.

📅 Mark your calendar. HerMoney has not one, but two FinanceFixx sessions coming up for those who need to get their money right in 2025. Our 4-week financial coaching program for all ages (and stages) starts January 7th and our 8-week program, just for pre-retirees, kicks off January 8th. Use code SAVENOW for 15% off the 4-week program here. Pre-retirees, use the code LASTCHANCE for $100 the 8-week program here.

🤑 Would you rather be rich or wealthy? Knowing the difference can be huge when it comes to having a meaningful life, especially as we age. That’s according to Brian Portnoy, author of the bestselling book "The Geometry of Wealth," who recently joined Jean Chatzky on "Your Money Map," sponsored by the Alliance for Lifetime Income.

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*The HerMoney podcast is proudly sponsored by Edelman Financial Engines. Unlock your wealth potential with our sophisticated wealth planning. Continue your journey at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM4002839.

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