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[Click here]( [Weekly Hero Image](#) In this weekâs newsletter: - 2023 money goals - Saving just got a little easier - TikTok does good - And more [Kelly Ernst headshot] Kelly Ernst Managing Editor Quick Market Price Check Last updated: December 23, 5:00pm EST 19.55% Average Credit Card APR 0.20% Average Savings Account APY 7.09% 30-Yr Fixed Mortgage New Year, New Money Goals Money-related goals are often among the top New Yearâs resolutions each year. According to a [Bank of America survey]( the most popular financial resolutions for 2023 are: - Saving more money - Saving for retirement - Travel and vacations - Building an emergency fund - Paying off credit cards - Paying off student loans - Buying a home - Buying a new car - Saving for education (your own or a childâs) A [Fidelity Investments survey]( found 66% of respondents were thinking of setting a financial resolution, with younger generations more likely to do so than older ones. The top three resolutions, according to this study, were saving more, paying down debt, and spending less. In Thursdayâs newsletter, weâll be sharing our teamâs top money resolutions for 2023. Have you set yours yet? [New Years resolution 2023.jpg] 2022 by the Numbers As 2022 comes to a close, how are Americans doing financially? Itâs a mixed bag, according to research. Consider these numbers from recent studies: - Almost a third (29%) of Americans say [their financial situation is worse]( than it was last year. - But almost half (43%) say they [made up for financial setbacks]( caused by the pandemic. - More than three-fourths (77%) are [anxious about their financial situation](. - Almost half (43%) [donât believe theyâll be financially ready]( for retirement. - A third (31%) of parents with adult children [financially support those children](. - U.S. adults with debt [have an average total of $22,354]( not including mortgages. The good news: Totals have dropped 25% since 2019. Thereâs no question the past few years have been rough for many people, money-wise. But whatever your situation is right now, there are steps you can take to improve it. Review your finances objectively, let yourself enjoy the holidays if you celebrate, and turn over a new financial page when the calendar changes. You got this. Weâll help. Â Securing a Savings Victory Building your emergency savings just got a little easier thanks to newly passed retirement legislation. Among the provisions in [SECURE Act 2.0]( employees will be able to pull at least $1,000 from their retirement accounts per year for emergencies without penalty. (Typically, early withdrawals incur a 10% penalty). They must deposit the same amount back into their account within three years to make another withdrawal. This change goes into effect on Jan. 1, 2024. Employers can also create emergency savings accounts for employees, where their workers can contribute up to $2,500 in post-tax money via automatic payroll deductions. This change goes into effect immediately. [thumbs up money.jpg] Wells Fargo, Youâre Doing Too Much Wells Fargo has been the subject of much scrutiny over the past decade, and [its latest scandal]( has cost it dearly. On Dec. 20, 2022, the Consumer Financial Bureau handed Wells Fargo the biggest fine in CFPB history: $3.7 billion for deceptive and unfair practices. The bankâs violations include misapplying loan payments, charging illegal fees, and wrongfully foreclosing on homes and repossessing vehicles. Wells Fargo chief executive Charles W. Scharf says the bank is "a different company" now than it was when it committed these violations, but [the CFPB isnât convinced](. CFPB director Rohit Chopra has said, "While [the Dec. 20th] order addresses a number of consumer abuses, it should not be read as a sign that Wells Fargo has moved past its longstanding problems or that the CFPBâs work here is done." And Now for Something a Little Lighter... Take a break from serious dollars and cents with these stories from the more random corners of the internet. - Theyâve Got the Meats (and Cheeses). There truly is a side hustle for everyone. Three friends in Indiana created a [charcuterie subscription service]( that earned them $40K in its first month. And thatâs with two of the friends admitting they "had no knowledge of charcuterie" when they started. - Ferrisâ Faux Ferrari. The 1961 Ferrari 250GT California. Less than a hundred were made. And someone just bought one of them â well, sort of. A "replicar" from "Ferris Buellerâs Day Off" recently [sold at auction for $337,500](. No, itâs not an authentic Ferrari, but it is an authentic piece of movie history. Itâs the replica car used in the movieâs famous Ferrari-through-the-garage-window scene. And itâs way less expensive than the real thing, which costs millions. - Sometimes, Social Media Isnât a Garbage Fire. My favorite viral video genre (apart from "cute animals doing things cutely") is "people helping strangers." Thatâs what happened when a [TikTok video]( of an 82-year-old working at Walmart inspired a crowdfunding campaign that raised over $129,000 for the woman. Itâs nice to know thereâs good in the world, IRL and online. [heart money.jpg] [Twitter Logo]( [Facebook Logo]( [Instagram Logo]( [Pinterest Logo](
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