More than one-third (36%) of Americans took on debt during the holiday season, according to LendingTree. Wells Fargo’s head of advice, Emily Irwin, joins Brad Smith on Wealth to discuss managing holiday debt.

Irwin outlines three steps for tackling holiday spending debt, explaining that the first step is to “not to get overwhelmed by the fact that you have debt.”

Secondly, she adds, “What I encourage people to do is really lean into it, lean into your finances, and try to deeply understand, ‘Where am I starting from?’ to set tangible goals for your short-term debt, your long-term debt, and other recurring payments that you might have.”

The third step, Irwin says, is to “make a commitment to yourself to have a strong balance sheet and either maintain or continue to build a strong credit score throughout the year.”

To watch more expert insights and analysis on the latest market action, check out more Wealth here.

This post was written by Naomi Buchanan.

Bill Rancic is bringing his years of entrepreneurial success in the boardroom to the Us Weekly studio by sharing his greatest lessons learned and best advice going into the new year.

“I think, today, the biggest financial mistake people make is that they spend more than they can make, and that’s it,” Rancic, 53, exclusively told Us while discussing his new “Dollar Bill” podcast. “I always go back to what my father told me. ‘It’s not how much money you make, it’s how much money you save.’ So, you have to be a disciplined saver, even if it’s $10, $20, $50 a week — whatever it is, get in that habit. Don’t ever not do it, and you’ll be shocked at what happens in 20 or 30 years from now.”

Rancic is best known as the original winner of The Apprentice. After his reality television success in 2004, Rancic went on to launch a string of successful businesses, including the RPM restaurant chain with his wife, Giuliana Rancic. Bill’s latest venture is his “Dollar Bill” podcast, which further delves into the world of finance.

In terms of his savings tips, he gave Us further clarification on how to keep assets safe and secure.

“The money you save is really going to be up to you and [you should] find a good financial advisor,” Bill told Us. “[It should be] someone who can give you guidance on how you should invest it, but it definitely should be going to work for you.”

Bill also explained why individuals should “never sell anything unless [they] have to.”

“It depends on what it is,” he noted. “If it’s a depreciating asset, you should sell it. If it’s something like real estate, investment property [or] something that God isn’t making any more of, you want to keep it and pass it down from generation to generation, if you can.”

In fact, Bill believes that financial health is “just as important” as a person’s physical health, going on to add that he believes the two are actually linked.

“When you’re financially stressed, it causes stress on your body and if you look at a number one cause for divorce, it’s money,” he told Us. “Money, in many cases, is very troublesome for people and it causes them a lot of pain and suffering. So, you have to have good financial health in order to have a healthy life, a healthy marriage [or] a healthy family.”

Related: Billy Porter, Donna Kelce, Guerdy Abraira and More Share Go-to Advice

Getty Images (2); DENNIS KWAN For Us Weekly’s first-ever advice issue, on stands now, stars share their hard-earned wisdom on raising kids, overcoming obstacles and achieving your dreams. Check out their words of wisdom below. Lindsay Hubbard on recovering
from heartbreak “Take it one day at a time until you can add more to your plate. […]

The former Giuliana and Bill star also gave Us his three top tips for starting a new business.

“One is [to] embrace a term called ‘practical execution,’ which essentially means stop talking, start doing — actions speak louder than words,” Bill said. “Secondly, you have to be agile. You have to adapt, adjust, react, and if you’re not agile, you become extinct. And thirdly, it’s about risk. It’s about understanding risk, respecting risk, and converting risk into success.”

For more of Bill’s financial words of wisdom, watch the video above.

With reporting by Christina Garibaldi 

SYDNEY, AUSTRALIA / ACCESSWIRE / January 11, 2025 / RedSea Exchange, a trusted leader in Australia’s financial services sector, is proud to reaffirm its dedication to providing top-tier solutions in fixed-term deposit management, bond trusteeship, and escrow services. With over 20 years of industry experience, RedSea Exchange has become synonymous with security, transparency, and reliability.

In an era where financial integrity is paramount, RedSea Exchange offers a seamless approach to managing critical investment instruments. The company’s expertise as a trustee for fixed-term deposits and bonds provides clients with the assurance that their assets are safeguarded and managed with precision.

Elevating Security and Trust in Financial Transactions

RedSea Exchange’s escrow services streamline complex transactions, providing a secure intermediary to protect both parties’ interests. These services are designed to ensure smooth and efficient processes, offering personalized solutions that cater to the unique needs of investment banks and financial institutions.

A Legacy of Ethical Excellence

As an established name in Australia’s financial landscape, RedSea Exchange operates with a steadfast focus on transparency, ethical practices, and client engagement. The company’s mission is to build enduring partnerships by fostering trust and delivering exceptional service.

Looking Ahead

In response to the evolving needs of the financial sector, RedSea Exchange continues to innovate, enhancing its services to support the growth and success of its clients. By combining industry expertise with cutting-edge solutions, the company is well-positioned to navigate the dynamic financial landscape.

About RedSea Exchange

RedSea Exchange, a division of RedSea Money Transfer and Exchange Pty Ltd, has been a cornerstone of Australia’s financial services for over two decades. Specializing in fixed-term deposits, bond trusteeship, and escrow services, the company is committed to delivering secure and reliable financial solutions that empower its clients.

For more information about RedSea Exchange and its services, visit www.redsea-exchange.com.

Contact Information
Website: www.redsea-exchange.com
Company Name: RedSea Exchange
Contact Person: Emily Johnson
Email: Emily@redsea-exchange.com

SOURCE: RedSea Exchange

View the original press release on accesswire.com