Finance

Here are your top tips for a financially healthy 2025

Published

12 months ago

December 29, 2024

Here are your top tips for a financially healthy 2025

The economy enters 2025 in reasonably good shape, with a low unemployment rate, modest inflation, a trend toward declining interest rates and strong corporate profit growth that has been giving the stock market a lift.

It’s thus not a bad backdrop for getting a fresh start on improving your finances. Here are some trends, issues and tips to mind in coming weeks:

Choose a savings resolution, and stick to it

New Year’s resolutions can provide the motivation to improve your financial situation in many ways, such as building up your retirement plan, reviewing your insurance policies or getting started (or updating) an estate plan.

However, the resolution most Americans are focusing on heading into 2025 is more basic: Sock more money into emergency savings. You can hold money in various forms from a money-market mutual fund to laddered bank certificates of deposit (those coming due in intervals such as every three months).

The idea is to have enough liquid cash to meet big unexpected expenses while earning at least a modest yield in the meantime.

In a Fidelity Investments survey, 72% of respondents said they suffered a notable financial setback this year, with nearly half having to dip into their emergency funds to pay for it. It’s thus no surprise that 79% of respondents hope to build up their cash reserves, 38% worry about unexpected expenses and 20% say another surprise could set them back in 2025. Women, more than men, said they didn’t have an emergency fund to dip into, but 80% of them resolved to build one in 2025.

Get relief from a consumer-friendly banking rule

A new rule that could help some of the most hard-pressed consumers is one that mandates lower overdraft fees at banks.

The federal Consumer Financial Protection Bureau in December issued a final rule that it said will cut typical overdraft fees from $35 per transaction to $5, saving an average of $225 annually for the 23 million or so households that pay such charges.

Bank critics contend the charges hit lower-income people hard.

Overdraft fees are “a form of predatory lending that exacerbates wealth disparities and racial inequalities,” said Carla Sanchez-Adams, senior attorney at the National Consumer Law Center, in a statement.

Some banks including Capital One, Citibank and Ally Bank already have eliminated these fees.

Consumer advocates hail the new rule but caution that it faces the risk of being overturned by Congress. That, they say, could come with simple majority votes in the Senate and House, with limited debate.

Get a jump on tax season, and use free filing services

The IRS is suggesting several steps that can be taken soon for people hoping to get a jump on the filing season for 2024 tax returns. These include gathering and organizing tax records, making an estimated fourth-quarter quarterly payment (if required) by Jan. 15, 2025, and opening an IRS Online Account. Income brackets, deductions and other tax aspects have changed a bit owing to inflation adjustments.

The IRS last year piloted a no-cost, easy-to-use Direct File system in 12 states.

It’s designed for taxpayers with relatively simple situations. The IRS plans to expand access this filing season to 12 more states including Pennsylvania, New Jersey, Connecticut, North Carolina and Oregon.

That sets up a potentially confusing situation where residents of roughly half the country will be eligible, while the other half won’t have access.

Keep an eye on the favorable corporate-profit trend

Baring a last-second collapse, the stock market will finish 2024 with its second consecutive annual gain of more than 20%.

Rising corporate profits or earnings have been the key catalyst, and the picture might improve in the coming year. If you’re an investor, that’s a favorable sign.

Earnings for stocks in the Standard & Poor’s 500 index likely will finish up 7.4% for the fourth quarter of 2024, compared to the fourth quarter of 2023. That’s according to Sheraz Mian, who as research director at Zacks Investment Research tracks what investment analysts forecast for the companies they follow. Earnings growth could accelerate to 10.9% in the first quarter of 2025, 12.5% in the second and 11.3% in the third, he said.

Tech stocks account for a big chunk of the profit gains, led by the “Magnificent 7” of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, and supported by trends including artificial intelligence, advanced computing and robotics.

Will 2025 witness a slowdown here? Not necessarily, as tech is “among the few sectors whose earnings outlook is steadily improving,” Mian said.

Give yourself a financial de-clutter check

Inflation was a big story this year and will continue to make headlines in 2025. If you’re feeling the pinch, it might be time to conduct a thorough review of your spending habits. Take a close look at the many monthly or quarterly expenses that you routinely pay without thinking much about them.

“Audit your spending habits,” suggested John Pharr, a certified public accountant in Florida. “So often we spend money mindlessly with little planning or on things that don’t serve us well.”

Auto, home and other types of insurance are a case in point. Review your coverage with an eye on making sure you have an appropriate amount of coverage and suitable deductibles. It might be time to shop around for better deals.

Other expenses that we sometimes view as “needs” really are “wants” that could be trimmed. Pharr cites subscriptions for streaming platforms, gym memberships, meal deliveries and cell phone and cable-TV services. “Sometimes rates keep rising and we just keep paying without checking into other options,” he said.

Reach the writer at russ.wiles@arizonarepublic.com.

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Finance

Plano-Based Finance of America Announces $2.5B Partnership with Funds Managed by Blue Owl to Expand FOA’s Home Equity Lending

Published

8 hours ago

December 12, 2025

Press Room

Plano-Based Finance of America Announces .5B Partnership with Funds Managed by Blue Owl to Expand FOA’s Home Equity Lending

Graham Fleming, CEO of Finance of America [Composite image; source: Finance of America/DI Studio]

Finance of America Companies, a leading provider of home equity-based financing solutions for a modern retirement, and funds managed by Blue Owl Capital, a leading alternative asset manager, announced an enhanced $2.5 billion strategic partnership to accelerate product innovation and distribution for the nation’s fast-growing retirement demographic.

With more than 10,000 Americans entering retirement age every day, the market for home equity access continues to expand. FOA said its collaboration with New York City-based Blue Owl positions it to capture significant share in this rapidly evolving sector.

“This is a pivotal moment not just for Finance of America, but for the senior finance market as a whole,” Graham Fleming, CEO of Finance of America, said in a statement. “By aligning with Blue Owl, we are creating a platform of scale and innovation to better serve one of the fastest-growing demographics in the United States.”

The enhanced partnership includes, per FOA:

$2.5 billion commitment for new product innovation, providing scale and liquidity to support origination growth across multiple asset classes
$50 million equity investment in Finance of America, enhancing long-term alignment between the companies and supporting FOA’s continued growth initiatives
Joint innovation and product-development initiative focused on the continuous rollout of new, differentiated financial products tailored for people looking to maximize freedom, security, and opportunity throughout their retirement

This product expansion will complement FOA’s existing industry-leading reverse mortgage product suite while strengthening the company’s commitment to innovation and its role as a leader in delivering powerful financial solutions for retirees.

FOA said it continues to empower retirees with responsible, flexible access to capital to support aging in place, healthcare expenses, and lifestyle goals.

The partnership reinforces Finance of America’s mission to provide comprehensive, retirement-focused financial solutions, with the goal of expanding beyond reverse mortgages to become the nation’s leading, full-spectrum home equity lending platform, the company said.

“We believe Finance of America is uniquely positioned to redefine how financial products are delivered to retirees,” said David Aidi, senior managing director and co-head of Asset Based Finance at Blue Owl.

“This partnership provides the capital, the strategic alignment, and the innovation engine to build category-defining products at scale,” added Ray Chan, senior managing director and co-head of Asset Based Finance at Blue Owl.

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Finance

Bérangère Michel announced as BBC Group Chief Financial Officer

Published

20 hours ago

December 12, 2025

Press Room

Bérangère Michel announced as BBC Group Chief Financial Officer

The BBC has announced that Bérangère Michel has been appointed to the role of Group Chief Financial Officer.

Bérangère brings extensive experience from her 16-year career at the John Lewis Partnership, where she held senior roles including Chief Financial Officer, Customer Service Executive Director, Operations Director and Finance & Strategy Director.

Prior to joining the John Lewis Partnership, Bérangère spent 11 years at the Royal Mail Group in a number of finance, change and strategy roles, including as Finance Director of the property division.

In an expanded role as BBC Group Chief Financial Officer, Bérangère will be responsible for the overall BBC Group financial strategy, with a remit across BBC Public Service, BBC Studios and the BBC’s commercial subsidiaries. She will play a leadership role and will sit on both the Executive Committee and, for the first time, the Board.

This position will strengthen the BBC’s financial leadership, support its transformation, and make the best use of the licence fee and commercial opportunities. Bérangère will report to the Director-General and will take up the role in early January.

Director-General Tim Davie says: “Bérangère brings a wealth of experience from her time at the John Lewis Partnership and will play a critical role in shaping our new financial strategy. I’m pleased to welcome her to the BBC, and to both the Executive Committee and Board.

“Bérangère’s appointment to this expanded role comes at an important time for the BBC, as we look ahead to Charter renewal and continue to accelerate our transformation to deliver outstanding value for our audiences.”

BBC Chair Samir Shah says: “The role of Group Chief Financial Officer will be hugely important as we build a BBC for the future, and I look forward to welcoming Bérangère to the Board.”

Bérangère Michel says: “I am delighted to be joining the BBC, an institution whose purpose and mission I have always admired. It’s a privilege to be part of shaping its exciting future at such a crucial moment and I cannot wait to get started.”

BBC Press Office

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Finance

ATI Promotes Longtime Leader to CFO and SVP of Finance

Published

1 day ago

December 11, 2025

Press Room

ATI Promotes Longtime Leader to CFO and SVP of Finance

Rob Foster, incoming CFO of ATI Inc., effective Jan. 1, 2026 [Photo: ATI}

ATI Inc., a Dallas-based manufacturer of high-performance materials for the aerospace and defense industries, announced that James Robert “Rob” Foster will be promoted to senior vice president of finance and chief financial officer, effective January 1, 2026.

Foster succeeds Don Newman, who will serve as strategic advisor to the CEO beginning January 1. As previously announced, Newman will retire on March 1, 2026, and serve in an advisory capacity in that time to allow for a smooth transition.

“Rob is a proven P&L leader with enterprise-wide experience in the areas that matter most to ATI’s continued growth,” Kim Fields, president and CEO, said in a statement. “He brings deep expertise not only in finance but also as an operational leader. Rob played a pivotal role in the successful Specialty Rolled Products transformation, consistently helping ATI to deliver strong returns and shareholder value. I look forward to partnering with him as we enter our next phase of profitable growth.”

Foster, a longtime ATI leader, brings both operational expertise and financial discipline to the CFO role, the company said. He most recently served as president of ATI’s specialty alloys & components business, where he improved efficiency, grew capacity, and advanced the company’s role as a global leader in exotic alloys. Foster previously served as vice president of Finance, Supply Chain, and Capital Projects, overseeing ATI’s global finance organization, capital deployment processes, and enterprise supply chain performance. Earlier in his career, he led Finance for both ATI operating segments and the Forged Products business.

“I’m honored to become ATI’s next CFO,” said Foster. “ATI is well-positioned with a strong balance sheet, focused strategy, and significant opportunities ahead. I look forward to working with our team to drive disciplined investment, operational excellence, and long-term value creation for our shareholders.”

Newman added, “Rob is an exceptional leader who understands ATI’s strategy, operations, and financial drivers. He has delivered transformative results across the organization. I look forward to supporting a seamless transition as we pursue this next step in our succession planning.”

Before joining ATI in 2012, Foster held senior finance roles at API Technologies Corp. and Spectrum Control Inc., where he led ERP implementations, acquisition integrations, and internal control enhancements. He began his career as an auditor at Ernst & Young (EY).

ATI produces high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical, and specialty energy.