By Anna Helhoski, NerdWallet The battle to get here was certainly an uphill one, but people are generally feeling better about the economy and their finances than they once did. On top of that, the economy has been easing into an ideal, Goldilocks-like position — not running too hot or cooling too quickly. Throughout 2024, consumer sentiment data showed people were fairly positive about the economy and their own finances, even if there’s remaining frustration over elevated prices compared to four years ago. Looking ahead, households are feeling more optimistic about their personal finances in the next year, as the share of those expecting to be in a better financial situation a year from now hit its highest level since February 2020. Combine positive personal vibes with a strong economic picture and it looks like 2024 wasn’t so bad for consumers, after all. But that doesn’t mean there weren’t bumps in the road or potential roadblocks ahead. To cap off the year, NerdWallet writers reflect on the top trends in personal finance and the economy this year — and what they think might be ahead in 2025. The economy steadily grew Elizabeth Renter, NerdWallet’s economist What happened: In 2024, U.S. consumers have proven resilient following a period of high inflation and ongoing high interest rates. Wage growth has been strong, owing in part to rising productivity. This has driven robust spending throughout the year, which has kept the economy growing at a healthy pace. The labor market has remained steady, though cooler than 2023, and price growth continues to moderate towards the Federal Reserve’s 2% inflation goal. What’s ahead: Barring significant changes to economic policy and significant shocks, the U.S. economy is expected to grow at a moderate rate in the coming year. Inflation will continue to moderate and the labor market will remain relatively healthy, all due in part to continued slow and deliberate rate cuts from the Fed. However, there are risks to this path. Higher tariffs and tighter immigration policies are likely, but the extent of these changes are yet unclear. The potential policy scenarios are many, and the economic outcomes complex. Increased tariffs are generally inflationary, and stricter immigration policies could impact the labor supply and economic growth. Consumers and small business owners with their eyes to the new year should focus on the things within their control. Savings accounts offered high rates and returns Margarette Burnette, consumer banking and savings writer What happened: High-yield savings accounts and certificates of deposit offered elevated rates in 2024, rewarding savers with strong returns. Following the Federal Reserve rate cuts in the second half of the year, high-yield accounts had modest rate decreases, but they continued to outperform traditional savings accounts and CDs. What’s ahead: We’re watching for further Federal Reserve rate cuts, which could lead to more decreases in savings rates. Credit card debt hit a high Sara Rathner, credit cards writer What happened: Credit card debt levels hit record highs, with consumers turning to credit cards to pay for necessities. While the economy is doing well, many individuals have struggled to make ends meet, as incomes haven’t kept up with certain costs. What’s ahead: We may see some policy and regulation changes with the incoming administration that could affect folks when it comes to credit cards, debt and consumer protections. Small business boomed Ryan Brady, small business writer What happened : New businesses continued to blossom in 2024 as business applications remained well above pre-pandemic levels. Confidence in the future state of the U.S. economy also spiked after the presidential election, but that optimism was tempered by concerns over rising costs and labor quality. What’s ahead: All eyes are on the incoming administration as small-business owners brace for turbulence resulting from potential tariffs, tax policy changes and dismantled government regulations. We’re also watching the possibility of interest rate cuts in 2025 and small-business owners’ growing reliance on new technologies, such as AI. Home buying remained challenging Holden Lewis, mortgages writer What happened: Home buyers struggled with elevated mortgage rates, rising house prices and a shortage of homes for sale. On top of that, a new rule required buyers to negotiate their agents’ commissions. What’s ahead: The Federal Reserve is expected to cut short-term interest rates, but mortgage rates might not necessarily fall by a similar amount. Buyers will probably have more properties to choose from, and the greater supply should keep prices from rising a lot. Interest rates on home equity loans and lines of credit should fall, making it less expensive to borrow to fix up homes — either to sell, or to make the home more comfortable and efficient. The markets were a boon for investors Sam Taube, investing writer What happened: The stock market had a great year. The S&P 500 is up more than 25% due to falling interest rates, fading recession fears, AI hype, and the possibility of lighter taxes and regulations under the new administration. Cryptocurrency also saw big gains in 2024; the price of Bitcoin crossed the $100,000 mark for the first time in December. What’s ahead: A lot depends on how fast the Fed reduces rates in 2025. Another key unknown is Trump’s second term. Regulatory rollbacks, such as those he has proposed for the banking industry, could juice stock prices — but they also could create systemic risks in the economy. His proposed tariffs could also hurt economic growth (and therefore stock prices). Finally, it remains to be seen whether trendy AI stocks, such as NVIDIA, can continue their momentum into next year. It’s the same story with crypto: How long will this bull market last? Premiums went up for home and auto insurance Caitlin Constantine, assistant assigning editor, insurance What happened: Many people saw their home and auto insurance premiums skyrocket in 2024. In some states, homeowners are finding it harder to even find policies in the first place. Meanwhile, life insurance rates have started to decrease post-pandemic. We also saw more insurers offering online-only policies that don’t require a medical exam. What’s ahead: Auto and home insurance costs will likely continue to rise, although auto premiums may not rise as dramatically as they have over the past few years. And if you’re in the market for life insurance, expect to see competitive life insurance quotes and more customizable policies. Lawsuits and uncertainty over student loan relief continued Eliza Haverstock, student loans writer What happened: Borrowers received historic student loan relief, but lawsuits derailed an income-driven repayment plan used by 8 million whose payments are indefinitely paused. Uncertainty will carry into 2025 as a result of the presidential administration change. What’s ahead: Trump has pledged to overhaul higher education and rein in student loan relief. The fate of the SAVE repayment plan, student loan forgiveness options, FAFSA processing and more remain in the balance. Traveling in style was all the rage Meghan Coyle, assistant assigning editor, travel What happened: People are willing to pay more for big and small luxuries while traveling, and airlines and hotels are taking note. Many airlines raised checked bag fees early in 2024, credit card issuers and airlines invested in renovated airport lounges, and major hotel companies continued to add luxury properties and brands to their loyalty programs. What’s ahead: Southwest will say goodbye to its open seating policy and introduce new extra-legroom seats, a major departure for the airline. Alaska Airlines and Hawaiian Airlines will unveil a unified loyalty program in 2025. Spirit Airlines may attempt to merge with another airline again after its 2024 bankruptcy filing and two failed mergers under President Biden’s administration. Travelers will find that they’ll have to pay a premium to enjoy most of the upgrades airlines and hotels are making. Dynamic pricing expanded its reach Laura McMullen, assistant assigning editor, personal finance What happened: This year, dynamic pricing expanded beyond concerts and travel to online retailers and even fast-food restaurants. This practice of prices changing based on real-time supply and demand received plenty of backlash from consumers and prompted the Federal Trade Commission to investigate how companies use consumers’ data to set prices. What’s ahead: Beyond an expansion of dynamic pricing — perhaps with added oversight — expect subscription models to become more prevalent and demand for sustainable products to grow. The car market came back for buyers Shannon Bradley, autos writer What happened: New-car prices held steady in 2024 but remained high after a few years of sharp increases — the average new car now sells for about $48,000, and for the first time ever the price gap between new and used cars surpassed $20,000 (average used-car prices are now slightly more than $25,000). Overall, the car market returned to being in the buyer’s favor, as new-car inventories reached pre-pandemic levels, manufacturer incentives began making a comeback and auto loan interest rates started to decline. What’s ahead: The future of the car market is uncertain and depends on policies implemented by the incoming administration. Questions surround the impact of possible tariffs on car prices, whether auto loan rates will continue to drop, and if federal tax credits will still be available for electric vehicle buyers. Buy now, pay later grew in popularity Jackie Veling, personal loans writer What happened: Buy now, pay later continued to be a popular payment choice for U.S. shoppers, even while facing headwinds, like an interpretive ruling from the CFPB (which determined BNPL should be regulated the same as credit cards) and Apple’s discontinuation of its popular Apple Pay Later product. Large players like Affirm, Klarna and Afterpay continued to offer interest-free, pay-in-four plans at most major retailers, along with long-term plans for larger purchases. What’s ahead: Though more regulation had been widely anticipated in 2025, the change in administration suggests the CFPB will play a less active role in regulating BNPL products. For this reason, and its continued strength in the market, BNPL will likely keep growing. Inflation eased, finally Taryn Phaneuf, news writer What happened: Easing inflation was a bright spot in 2024. In June, the consumer price index fell below 3% for the first time in three years. Consumers saw prices level off or decline for many goods, including for groceries, gas and new and used vehicles. But prices haven’t fallen far enough or broadly enough to relieve the pinch many households feel. What’s ahead: The new and higher tariffs proposed by the Trump administration could reignite inflation on a wide range of goods. Rents were still high, but price growth slowed Taryn Phaneuf, news writer What happened: Rent prices remain high, but annual rent inflation slowed significantly compared to recent years, staying around 3.5% for much of 2024, according to Zillow, a real estate website that tracks rents. A wave of newly constructed rental units on the market seems to be helping ease competition among renters and forcing landlords to offer better incentives for signing a lease. What’s ahead: If it continues, a softening rental market could work in renters’ favor. But construction is one of several industries that could see a shortage of workers if the Trump administration follows through on its promise to deport undocumented immigrants. A shortage of workers would mean fewer houses and apartments could be built. Trump won the election, promised tariffs and deportations Anna Helhoski, news writer What happened: After a contentious presidential campaign, former President Donald Trump declared victory over Vice President Kamala Harris. While on the campaign trail, Trump promised to lower inflation, cut taxes, enact tariffs, weaken the power of the Federal Reserve, deport undocumented immigrants and more. Many economists have said Trump’s proposals, if enacted, would likely be inflationary. In Congress, Republicans earned enough seats to control both houses. What’s ahead: It’s unclear which campaign promises Trump will fulfill on his own and with the support of the new Congress. He has promised a slew of “day one” actions that could lead to higher prices, including across-the-board tariffs and mass deportations. Most recently, Trump pledged to enact 20% tariffs on Canada and Mexico, as well as an additional 10% tariff on China. He has also promised to extend or make permanent the 2017 Tax Cuts and Jobs Act; many of its provisions expire by the end of 2025. Congress squabbled while consumer-first, antitrust efforts won Anna Helhoski, news writer What happened: Fiscal year 2023-2024’s funding saga finally came to an end in March, then six months later, the battle to fund the fiscal year 2024-2025 began. The Biden Administration waged its own war against junk fees . Antitrust enforcers pushed back against tech giants like Amazon, Apple, Google, and Meta; prevented the Kroger-Albertsons merger; nixed the Jet Blue-Spirit Airlines merger; and moved to ban noncompete agreements. The Supreme Court rejected a challenge to the constitutionality of the Consumer Financial Protection Bureau, as well as a challenge to abortion pill access. SCOTUS also overruled its landmark Chevron case, which means every federal regulatory agency’s power to set and enforce its own rules are now weaker. What’s ahead: The election’s red sweep means the GOP will control the executive and legislative branches of government. They’ll face the threat of at least one more potential government shutdown; a debt ceiling drama comeback; and the beginning of the debate over extending or making permanent provisions of the expiring 2017 Tax Cuts and Jobs Act. More From NerdWallet Anna Helhoski writes for NerdWallet. Email: anna@nerdwallet.com. Twitter: @AnnaHelhoski. The article What Trended in Personal Finance in 2024? originally appeared on NerdWallet .NEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. Intel announced on December 2 that CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.” Stoli Group USA, maker of Stoli vodka, has filed for bankruptcy due to slowing demand for spirits, a major cyberattack, and ongoing legal battles with Russia. The-CNN-WireTM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved. Get the latest local business news delivered FREE to your inbox weekly.

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Water is a scarce commodity in the Philippines despite its abundant water resources. The growing demand and continuing resource-intensive economic development make it more unavailable and inaccessible. Thus, the escalating demand, resulting in water-related challenges, such as supply and access to safe and sustainable water, pose significant economic challenges. To help secure the future of the country’s water resources, the University of the Philippines Los Banos-Integrated Natural Resources and Environment Management (UPLB-Inrem) and the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology (DOST-PCAARRD) have partnered to conduct a pioneering project aimed at institutionalizing Payment for Water Ecosystem Service (P-WES) in the country. The project, “Advocating the Institutionalization of Payment for Water Ecosystem Service in the Philippines,” comes at a critical time when the growing demand for water-related environmental services is facing increasing pressure due to diminishing natural resources and inadequate funding for environmental protection. Payment for Ecosystem Services (PES) is an economic tool that has emerged to promote conservation and management of natural resources by compensating those who provide essential ecosystem services. Despite recognition of the importance of PES, the Philippines has yet to establish a comprehensive policy framework that embraces and institutionalizes the adoption of PES. The project seeks to address the gap by engaging local and national stakeholders in establishing and institutionalizing a framework for compensating providers of essential water-related ecosystem services. The initiative not only aims to raise awareness about the significance of P-WES but also to provide a platform for stakeholders to enhance the proposed National Payment for Water Ecosystem Service policy. The project aims to raise awareness about the significance of P-WES in the country and its local-level initiatives; provide P-WES and PES Outcome for Sustainable Water Provision projects’ stakeholders platform to improve the proposed National P-WES policy draft. Likewise, it aims to implement a parallel effort to institutionalize P-WES at the provincial level; and institutionalize the implementation of P-WES as a natural resource conservation strategy through legislation. During the project’s inception meeting on June 20, Project Leader Asa Jose Sajise of UPLB discussed the increasing demand for environmental services, particularly the water ecosystem services and the development of national P-WES policy to address pressing water-related environmental and socioeconomic issues. Sajise highlighted the development of an initial Theory of Change. It hopes to guide the project in assessing the previous PES experiences and arrangements, identifying different P-WES initiatives in the Philippines and co-developing a draft national protocol on its implementation, in collaboration with the Department of Environment and Natural Resources-River Basin Control Office and DENR-Forest Management Bureau. The inception meeting had key resource persons, including Dr. Margaret Calderon, Professor 12 at UPLB, and Dieldre Harder, S&T Consultant at the United States Agency for International Development Philippines Safe Water project. With a project duration of 18 months, DOST-PCAARRD and UPLB hope the project serves as a valuable resource for revising existing policies or developing new ones that support the effective implementation of PES.Headman Muchibwa-Nyajena, born Maduveko Manyise, has tragically died in a bus accident at the age of 45. Manyise, a radiographer by profession, was among seven passengers killed on Sunday when an InterAfrica bus rammed into a stationary truck near Dabuka along the Harare-Bulawayo Highway. The accident has left a deep void in his community, where he was widely respected. Manyise, who was installed as Headman Muchibwa-Nyajena in March last year, was buried on Thursday in the Mavhungwe area under Chief Nyajena. His brother, Dr. Maseko Manyise, confirmed the death in a telephone interview with The Mirror, describing him as an extraordinary individual. "We are saddened by the untimely death. He was a minister in the church, an exceptional communicator, and remarkable in the way he solved problems. He was a sociable man who impacted many lives through his sound advice and inspiration," said Dr. Manyise. Maduveko Manyise lived a multifaceted life that spanned military service, healthcare, and religious ministry. Born in 1979, he began his education at Chiwawa Primary School in Nyajena, completing Grade 7 at Nyajena Primary in 1987. He proceeded to Nyabata High School for his Ordinary Level studies. In 1998, he joined the Zimbabwe National Army, where he served with distinction, including participating in the Democratic Republic of Congo war from 1999 to 2000. During his military career, Manyise trained as a radiographer, a skill he carried into civilian life after retiring from the Army in 2021. His commitment to education continued throughout his life. He earned a Theology degree in 2022 from the National University of Science and Technology, complementing his role as a minister in the Mutendi-led Zion Christian Church (ZCC). At the time of his passing, he was employed at Fort Street Medical and Dental Surgery in Bulawayo, where he was known for his dedication and professionalism. Manyise is survived by his wife, Rejoice Chihanga, and their two children, a 20-year-old daughter and a 15-year-old son. His death is a significant loss to his family, his community, and the church. Known for his humility, wisdom, and problem-solving abilities, he leaves behind a legacy of service and compassion. The tragedy has left many in shock, with heartfelt tributes pouring in for a man who was not only a community leader but also a mentor and a source of inspiration. His passing marks the end of a life dedicated to serving others in various capacities.

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NEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. Intel announced on December 2 that CEO Pat Gelsinger has resigned after a difficult stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.” Stoli Group USA, maker of Stoli vodka, has filed for bankruptcy due to slowing demand for spirits, a major cyberattack, and ongoing legal battles with Russia. The-CNN-WireTM & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved. Get the latest local business news delivered FREE to your inbox weekly.

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LAHORE: On the 6th day of her 8-day long China visit, Chief Minister Punjab Maryam Nawaz Sharif invited the Chinese technology companies to start operations in Punjab while chairing a roundtable investment conference in Guangzhou. Responding to her invitation, Chinese technology companies expressed keen interest for investments in Punjab as she vowed to facilitate them through one-window operation. During the conference attended by officials of more than 60 prominent companies from China and Hong Kong, the chief minister also announced the establishment of a working group, the appointment of a focal person and the establishment of a help desk. Representatives of leading Chinese companies gave detailed presentations on their institutions to Maryam as she reviewed various suggestions and recommendations for the promotion of Pak-China free trade. Maryam termed Punjab a "land of opportunity" for the Chinese companies and thanked them for participating in the investment conference as she gave them a detailed briefing on the economic, geographical and business importance of the province. Representatives of the Chinese companies appreciated the vision of the chief minister, and lauded her launch of the no-plastic campaign in Punjab. Maryam added that, "Focus is being given to windmills, solar energy and renewable energy sources to obtain cheap electricity". "Reforms are being introduced in the industry to improve the ecosystem" she said as solar energy demand is increasing continuously in Punjab and to overcome these needs, a mega solarisation project has been launched for the province. Maryam said the collaboration of Chinese companies in the solarisation project is welcomed. "Response of the Chinese investors to promote Pak-China relations is encouraging," she said.Roblox just launched its own Discord competitor