Black Friday and Cyber Monday may be losing their appeal. Online sales actually dipped on Black Friday last year. With sales now lasting from October through December, shoppers are shopping earlier—and later—in the year.
They’re also spending more. This year, consumers plan to spend $1,430 on average on gifts, entertainment, and travel this holiday season a 20 percent increase over 2020.
Holiday spending can sometimes be a bit of a blur, and many consumers end up taking on more debt than they intended. According to NerdWallet’s annual survey, gift purchases in 2021 cost consumers $2.8 billion in interest fees alone.
Buy now, pay later is also back in a big way. Last year, 36 percent of millennials planned to defer payments.
No one actually wants to go into debt over the holidays. This year, help those last-minute shoppers with ideas on how they can save money, cut back on impulse gift buys, and avoid debt traps.
December is the season of giving to charity, and while many people do so out of the goodness of their hearts, it doesn’t hurt that there may be a tax deduction involved.
When it comes to charitable giving, there is no generational divide. A NonProfitPro study found:
Baby boomers represent 51 million donors, giving $1,212 on average
Gen X represent 40 million donors, giving $732 on average
Millennials represent 33 million donors, giving $481 on average
While most people are in a giving spirit this time of year, your audience will appreciate tips on how to maximize tax deductions from those donations.
Be sure they’re aware of the year-end donation cut off for tax season.
Describe potential pitfalls to avoid as well as ways to maximize donation deductions. Many givers, especially younger generations, may not realize that popular online donation platforms don’t always result in a tax break.
December is always a good time to take stock of investments — particularly retirement accounts, which come with a few important year-end deadlines.
While IRA contributions are permitted until April 18th, 2023, IRA holders who turned 70.5 in 2020 must take required minimum distributions (RMDs) by April 1st of the year they turn 72. RMDs aren’t only for older investors — inherited IRAs come with their own set of distribution rules that can be complex and confusing for the beneficiary.
Explain to your audience how to make key moves before year-end to maximize their retirement contributions.
Tax rules can be complicated. Show off your know-how with an explainer on how to navigate it all.
And don’t forget to use your blog, email blasts, and social media accounts to make your audience aware of upcoming deadlines — they’ll appreciate it.
Financial markets have been on a wild ride the past few years, and 2022 was no exception. Before we look ahead to 2023 predictions and outlooks, it’s worth taking a moment to look for learnings in the year we just had.
Investment companies can use this opportunity to recap some of the biggest financial stories of the year.
Consumer brands and advisors can encourage their audiences to conduct their own financial year-end review to see where they stand, what they still need to accomplish and plan ahead for next year.
Fun fact: Nearly half of us make New Year’s resolutions, but only 9 percent actually see it through. Despite that sobering statistic, New Year’s resolutions are a great way to set goals — especially financial ones.
New Year’s resolutions largely fail because the goals we set for ourselves are too broad or too large. Consumer brands and advisors can help their audience create manageable money goals they can actually achieve.
Consider breaking down larger goals — like building an emergency fund or maximizing 401(k) contributions — into smaller, manageable chunks to help keep readers motivated.
Some topics are perfect for quick and punchy blog posts. We love a listicle for New Year’s resolutions.
Inflation has been a hot topic all year for good reason—everyone is feeling the squeeze. It may be too soon to tell, but as we hit the end of the year, some price indices seem to be stabilizing. Gas-price inflation peaked at 60 percent in June and dropped to 17.5 percent in October, for example.
That may seem like reason enough to celebrate — but there is something we’re not talking about enough: deflation, or rather the lack of it. While we all know deflation is theoretically bad for the economy, with prices soaring, consumers aren’t seeing any relief. Prices just aren’t coming down, despite inflation slowing in some areas.
Rising prices are outpacing wage increases. Even with the Fed’s attempt to cool inflation and some decreases, average American families are stretched thin.
Inflation and deflation can be tricky topics, but your audience likely wants to understand more about how it all works. Consider an explainer breaking down the key topics.
Everyone wants to know what happens next. The end of the year is a great time for think pieces from economic experts.