The end of the year means a surge of spending as we approach the holidays, and New Year’s saving resolutions are just around the corner. Appropriately, spending and saving dominate this month’s financial news roundup. Take a look at five headlines we’ve plucked from the bunch.
Online Holiday Shopping Stays Strong while Stores Lag: If you’ve taken your holiday shopping online, you’re not alone. While sales in brick-and-mortar stores are lagging, Web sales are projected to grow by more than 20 percent.
Average American Inheritance: $177,000: A recent survey shows that retirees expect to leave a good chunk of change to their heirs. On the flip side, 10 percent of respondents said they will rely solely on inheritance to fund their retirements, which may not be wise.
Middle Class Buying Luxury Again—But at a Bargain: In other shopping news, there’s been an uptick in sales of high-priced designer goods by middle-class consumers, though their habits have changed a bit. The increase in purchases could mean shoppers are feeling more comfortable spending again after the collective belt-tightening prompted by the recession.
Should You Super-fund Your 529 College Savings Plan?: Packing 529 funding into the next month could be an effective estate-planning move. The benefits of compounding interest mean even a small investment can add up over time.
Surge Seen in U.S. Oil Output, Lowering Gasoline Prices: A new report predicts that domestic oil production could grow to highs we haven’t seen in more than 40 years. From prices at the pump to politics, this increase has far-reaching implications.
Are there any headlines we missed? Be sure to share your top financial news picks in the comment section below.
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