Bernstein analysts named Robinhood Markets (HOOD) as the firm’s new “Best Idea” for 2025 as part of their coverage on global digital assets. Market Domination Overtime hosts Julie Hyman and Josh Lipton examine the broader analyst commentary around Robinhood’s stock.

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

This post was written by Luke Carberry Mogan.

January can be a tough time financially, especially if holiday spending leaves you with some debt. If you’re struggling financially following the holiday season, you’re not alone.

Eastgate resident, Atiana Anderson said she’s focusing on improving her financial fitness in 2025.

“My financial resolution this year is to save money. I’m hoping to save about 10 grand by the end of the year,” she said.

She said she plans to cut back on frivolous spending and pay off her credit card debt, but trying to build savings in today’s economy is no easy feat. Wilmington mother, Lindsay Clepper agrees.

“I’m a single mother, so I only have one income in the house, so it’s been really, really rough this year,” she said. “We’ve been in financial ruin. I’m just staying afloat.”

I went to financial wellness coach, Al Riddick to help find a solution. Here’s some of his advice for getting out of debt this year.

Start an emergency savings

Riddick said before you start paying down debt, you should set aside some money for emergencies.

“Hopefully people can set up an account where they can put at least $1,000 to the side,” he said. “Because something is always going to happen that’s going to impact cash flow that you don’t expect.”

Start with the smallest debt

Credit card debt can feel overwhelming. Regardless of interest rate, Riddick recommends paying down the debt with the smallest balance first.

“Because as human beings, we want to experience success as fast as possible, right? So, if you can attack that small debt, get rid of it as quickly as possible just by human nature, your self-esteem is going to go up,” Riddick said. “Your commitment to the process is going to go up as well, and the probability that you will consistently implement these behaviors is going to continue in the future.”

Keep track of your money

Riddick said it’s important to know how much money is coming in and out each month.

“A lot of people don’t even know what they get paid on a weekly or biweekly basis,” Riddick said. “Most people have no idea regarding how much their monthly expenses are because we don’t count money anymore. Everything is on direct deposit or automatic draft.”

Riddick said automatic payments do not mean you should ignore them. He said there’s no way to create an effective plan to get out of debt if you don’t understand where your money is going each month.

“When you implement a budget every month, you can almost see where you will be a year from now, five years from now, or even 10 years from now because it is really that simple,” Riddick said.

Once you determine your budget, you may decide the need for a secondary source of income. To better her finances this year, in addition to her current job, Lindsay Clepper said she’s considering enrolling in night school. “To start something else on the side, just to make the extra money to be able to get debt-free,” she said.

Pay your bill frequently

Riddick said you can take control of your finances by paying your credit card bill regularly.

“You know, there’s nothing wrong with paying your bill every week. You don’t have to wait, like, 30 days until the company sends you the bill,” Riddick said. “If you pay your bill every week, what that typically does, it heightens your level of awareness regarding what you’re doing with your money.”

When you’re paying more attention to your money, you start to notice trends or habits you may have otherwise missed.

“When you are paying more attention, more than likely, you’re like, wait a minute. I didn’t know I was spending that much money eating out or having food delivered to my home or paying this type of money on all these various subscription services,” he said. “But you know, at the end of the day, you are in control of every aspect of your financial life, but this is a power that only works when you unleash it.”

Plan for next year

Instead of repeating the cycle each year, Riddick said you should plan and save for the 2025 holiday season now.

“We know that on December 25, what’s going to happen, Christmas is coming, right?” he said.

He recommends setting up an automatic transfer from your checking to a savings account. He said for example, if you set aside $100 every month, you will have $1,200 by December set aside for holiday spending.

“Doing it that way is a lot easier than waiting around until November and then trying to come up with $1,200 that you don’t have, and that’s how people end up getting into debt,” he said. “If we know a certain event is coming up in the future, why not do yourself a favor and go ahead and plan in advance.”

Atiana Anderson had some words of encouragement for anyone experiencing credit card debt.

“Don’t be intimidated. Everything will work out for the best, even if you are struggling financially,” she said. “If you get a game plan, write it down in the notebook, and discuss it with financial planners, family members or an organization. Believe that you will get out of credit card debt or whatever situations that you have.”

“Don’t Waste Your Money” is a registered trademark of Scripps Media, Inc. (“Scripps”).

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On January 22/23, our 3rd Corporate Finance Conference will take place at our Frankfurt office. The event begins with an informal reception on January 22, followed by a full day of sessions on January 23.

Attendees will gain insights on market updates in Debt Capital Markets (DCM) and equity-linked instruments, DCM and loan documentation practices, regulatory initiatives like the securitization framework revision and the Corporate Sustainability Reporting Directive (CSRD), hybrid bonds under Moody’s new methodology, PIPE transactions, and the regulatory effects of §1 para. 3d of the Foreign Tax Act. Discussions will also cover Germany’s future in balancing values, energy network remuneration in the energy transition, ESG-related litigation risks, funding via digital securities, and the legal implications of “cum/cum” transactions.

Please find a detailed agenda here.

Speakers

• Sebastien Cieniewski, Vice President, Moody’s
• Hugo Stinnes, Managing Director – Co-Head Corporate Debt Capital Markets DACH, BNP Paribas
• Patrick Kindler, Vice President, Jefferies
• Dr. Peter Becker, Local Partner, White & Case LLP
• Dr. Bodo Bender, Partner, White & Case LLP
• Dr. Felix Biedermann, Local Partner, White & Case LLP
• Thomas Burmeister, Partner, White & Case LLP
• Dr. Thilo Diehl, Partner, White & Case LLP
• Dr. Dennis Heuer, Partner, White & Case LLP
• Dr. Sonja Hoffmann, Partner, White & Case LLP
• Dr. Alexander Kiefner, Partner, White & Case LLP
• Andreas Lischka, Partner, White & Case LLP
• Claire-Marie Mallad, Local Partner, White & Case LLP
• Dr. Julia Sitter, Partner, White & Case LLP
• Karsten Wöckener, Partner, White & Case LLP

Date & Venue

Wednesday, 22 January 2025
from 6:30 p.m.

Thursday, 23 January 2025
09:30 – 17:00

White & Case LLP
Bockenheimer Landstraße 20
60323 Frankfurt am Main

If you require further information please contact us here.

_{White & Case means the international legal practice comprising White & Case LLP, a New York State registered limited liability partnership, White & Case LLP, a limited liability partnership incorporated under English law and all other affiliated partnerships, companies and entities.}

_{This article is prepared for the general information of interested persons. It is not, and does not attempt to be, comprehensive in nature. Due to the general nature of its content, it should not be regarded as legal advice.}

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