49% of Americans are going to “hibernate” this winter and spend less after the holiday season, according to a Raisin survey. The poll of 2,000 adults found that 26% of respondents want to improve their financial literacy in 2025, and they have a lot to learn: 59% don’t know what APR (annual percentage rate) means, and 78% are confused by the abbreviation “APY” (annual percentage yield). 79% are unfamiliar with the meaning of “ROI” (return on investment). 44% plan on doing a “no buy” challenge in January. “Finance can be an intimidating topic. So ask for help, if needed, from a trusted family member, friend, finance expert or institution,” Raisin CEO Cetin Duransoy said. (swnsdigital)
Phone Topic: How do you financially recover from the holiday season?