🎁 The gift list

Wondering how much everyone else is spending on presents this holiday? Half of people (51%) admit they're unsure what is the "right,” or etiquette-appropriate amount, according to Empower research. Here’s a look at Americans’ average budgets for some of the people on this year’s gift list:

• $473.71 on kids
• $322.47 on a spouse/partner
• $241.91 on themselves
• $179.03 on parent(s)
• $148.95 on a boss
• $116.50 on colleagues
• $74.85 on pets

For givers with an appetite, there’s always Chipotle’s cilantro soap ($10*) or KFC’s Bucket of Chicken and Buttery Biscuit-scented candles ($34.95*).

— The Editors

💲 Tiny prices, big deals: More than half of Americans are concerned about being able to afford gifts for everyone on their list (59%) this holiday season, according to an Empower study. For those looking for the best deals, Amazon has launched Haul, a low-cost storefront that features products that cost less than $20* (with most under $10) and offers free delivery on orders over $25. The online retailer is predicted to account for 40%* of all U.S. e-commerce sales in 2024.

🏙️ Home for the holidays: Apartment demand has hit its highest point since 2021, with over 1.2 million* new units built in the last two years. The median rent for a one-bedroom apartment in the U.S. was $1,284* as of Nov. 27, up $35 from last year. Younger generations are feeling the pinch, with 67% of Gen Z and Millennials stressed out by housing costs, according to Empower findings. Those choosing to stay at home could have a financial edge: More than a quarter of young Americans say they've been able to save more than $1,000 a month while living with family.

🩺 Medical debt gets crossed off the list: One in 5 Americans* carry medical debt, which makes up 58% of all collection activity, according to the Consumer Financial Protection Bureau (CFPB). To address this, the CFPB has proposed removing medical expenses from credit reports, a move that could clear up to $49 billion* in reported balances for 15 million people. This shift could increase credit scores by an average of 20 points.

📺 ’Tis the season to stream: Disney’s latest earnings had a fairytale ending, thanks to hits like “Inside Out 2” and “Deadpool & Wolverine.” They helped lead Disney to $22.57 billion* in revenue and its stock hitting a six-month high. Streaming profits are expected to top $1 billion in the next fiscal year, adding to the excitement. Meanwhile, Disney is searching for its next CEO. Learn more about this year’s new CEOs on The Currency^TM.

Looking for the next big thing in social media? Bluesky might be it. This decentralized platform, backed by Twitter co-founder Jack Dorsey, says it puts control in the hands of users. Since its February 2024 debut, Bluesky has grown faster than a viral meme, gaining 8.7 million* members just since early November.

Its promise? A space where you call the shots on what you see and how you interact. As the platform avoids traditional ad-heavy models, users might be able to better protect their personal data and find opportunities to monetize content directly. With over 22 million members, Bluesky is quickly becoming a platform to watch.

Art market goes bananas

Turns out, duct tape and a banana can be worth millions. Sotheby’s recently sold artist Maurizio Cattelan’s 2019 piece, “Comedian,” for $6.24 million* to a crypto entrepreneur, proving the art market can be as wild as it is lucrative. Meanwhile, bananas at the grocery store? They’re actually down 1.4%* in price from October 2023 to October 2024, according to the Consumer Price Index — making this taped-up fruit possibly the most expensive banana in history. For would-be investors, it’s a reminder that art doesn’t just hang on walls. It can hang out in your portfolio, too. Overall, the global art market hit $65 billion in sales in 2023.
 

Remote jobs retreating

It’s getting harder to find remote work.* In February 2022, 10.4% of all Indeed job postings were remote or hybrid. By late October 2024, that number dropped to 7.8%. Those in finance and tech are leading the charge back to office life. On the flip side, employers who offer remote positions are finding it easier to scoop up top talent. Staying sharp about where remote jobs are still thriving could be a solid career move.

Empower research found that 50% of Americans would take a pay cut or forgo a raise in order to work remotely.
 

Tasty time machines

The latest holiday treats may come with a side of déjà vu, as popular food brands bring back fan favorites. Taco Bell is serving up a slice of history with its Decades Menu, featuring items from the chain’s 61-year run. Meanwhile, Hardee’s is bringing back its iconic Cinnamon ‘N’ Raisin biscuits, proving that the sweet taste of nostalgia never goes out of style.

Thanks to delivery apps, getting your hands on yesterday’s snacks has never been easier. Empower research found that food delivery is one of the most popular non-essential splurges for 27% of Americans. All those door drops add up: Food delivery is a $242 billion industry that’s expected to exceed $746 billion in value by 2033.