Investing

Domino’s will roll out 800 custom-branded 2023 Chevy Bolt electric vehicles at locations across the U.S. in the coming months.

Investors are on pace to wrap up a strong November, but it can be a challenge to pick out the best plays for the long run.
All three of the major averages are tracking for sizeable monthly gains. Wall Street experts are able to delve into the details and determine which stocks might have the best prospects for the long term.

Here are five stocks favored by the top pros on the Street, according to TipRanks, a platform that ranks analysts based on their past performance.

Domino’s Pizza

Restaurant chain Domino’s Pizza (DPZ) is first on this week’s list. Following recent meetings with the company’s management about several of its activities, including sales initiatives, a loyalty program and its aggregator strategy, BTIG analyst Peter Saleh reiterated a buy rating on the stock with a “top pick” designation and a price target of $465.
The analyst expects the change in Domino’s rewards program to enhance traffic among lower-frequency carryout customers, while third-party aggregators are targeting higher-income consumers who value convenience. In particular, management thinks that the reduction of the spend hurdle under the revamped rewards program, to $5 from $10, along with lower redemption tiers, will drive higher transactions from lower-frequency members.
Saleh added that talks with management suggest that the deal with Uber Eats, which marks Domino’s foray into third-party aggregators, is expected to boost sales and margins for franchisees.
“We expect these initiatives will be significantly accretive to both sales and earnings in the near and long term, helping Domino’s recapture its prior momentum,” said Saleh.

Saleh holds the 504th position among more than 8,600 analysts on TipRanks. His ratings have been successful 58% of the time, with each one delivering an average return of 9.1%. (See Domino’s Options Activity on TipRanks)

Palo Alto Networks

Another BTIG analyst, Gray Powell, is bullish on cybersecurity company Palo Alto Networks (PANW). The company delivered better-than-expected fiscal first-quarter results. However, investors were concerned about the billings outlook.
Powell noted that the company missed the quarterly billings estimate and issued weak billings guidance as customers are less likely to sign multiyear pay-in-advance deals due to a high interest rate environment. That said, he highlighted management’s commentary about a strong demand backdrop and higher pipeline visibility.
The analyst contended that there was weakness in billings, but there was strength in metrics like the current remaining performance obligation. There were several other positive aspects: These include the solid growth in next-generation security annual recurring revenue and the increase in full-year operating margin and earnings per share guidance.   
“All in, we think the FQ1 performance demonstrates that a number of factors can help PANW offset slowing growth in the firewall appliance market,” said Powell, who ranks 904th out of over 8,600 analysts tracked on TipRanks.
Powell reiterated a buy rating and a price target of $292. His ratings have been successful 53% of the time, with each delivering an average return of 7.2%. (See Palo Alto Hedge Fund Trading Activity on TipRanks)

Monday.com

We move to the work management platform Monday.com (MNDY), which recently impressed investors with better-than-anticipated third-quarter results. The company also raised its full-year guidance.
In reaction to the solid print and forecast, Goldman Sachs analyst Kash Rangan raised his price target for MNDY stock to $270 from $250 and reaffirmed a buy rating. The analyst noted the upbeat revenue and outsized margin momentum, with the company’s operating margin of 13% handily exceeding the consensus estimate of 3%.
“Management’s strong execution, coupled with a sustained beat-and-raise cadence reinforces the view laid out in our preview that while macro pressures weigh on expectations, there is minimal disruption to near-term performance,” said Rangan.
The analyst thinks that management’s tone is growing incrementally more constructive, thanks to improving top-of-funnel activity, stabilization within the company’s larger cohorts’ net expansion rate and growing demand for new offerings.
Rangan also highlighted that the company is building its sales capacity and investing in infrastructure-layer improvements to enhance scale and speed, which would help pipeline conversion, improve retention and drive larger contract deals.
Rangan ranks No. 440 among more than 8,600 analysts tracked by TipRanks. His ratings have been profitable 59% of the time, with each delivering an average return of 8.2%. (See Monday.com Technical Analysis on TipRanks) 

Alphabet

Search engine giant Google’s parent Alphabet (GOOGL) is next. Last month, the company reported upbeat third-quarter results. However, Google Cloud missed revenue expectations despite generating 22% growth.
Nonetheless, Tigress Financial analyst Ivan Feinseth is bullish on GOOGL stock and recently reiterated a buy rating, raising the price target to $176 from $172.
The analyst expects notable reacceleration in GOOGL’s revenue growth in Q4 2023 and 2024 and beyond, fueled by improved monetization due to the ongoing artificial intelligence integration and other capabilities that will drive further growth, mainly in Search and YouTube.  
“GOOGL remains an incredible value as it is at the forefront of every secular technology trend, including Search, mobile, Cloud, data center, e-commerce, entertainment, home automation, autonomous vehicle technology, and health and fitness,” said Feinseth.
The analyst emphasized that Alphabet’s solid balance sheet and cash flow support the funding of its growth initiatives, strategic acquisitions and improvement in shareholder returns through share repurchases.
Feinseth ranks No.337 among more than 8,600 analysts on TipRanks. His ratings have been successful 58% of the time, with each delivering an average return of 9%. (See Alphabet Insider Trading Activity on TipRanks)

Intel

Finally, we’ll look at semiconductor giant Intel (INTC). The stock has witnessed a solid run after the chipmaker reported better-than-expected third-quarter results and displayed good execution of its cost-saving initiatives.
On Nov. 15, Mizuho analyst Vijay Rakesh upgraded INTC stock to buy from hold and increased the price target to $50 from $37, saying, “We believe INTC is lining up significant NEW Server product launches and Foundry customer announcements in the next six months.”
The analyst also sees a better roadmap in 2024 for the compute and data center businesses, compared to competitors and the company’s historical rollouts. In particular, he expects the data center business to gain from “the most prolific product launches,” including Emerald Rapids, Sierra Forest and Gaudi2/3 Accelerators. He also expects the company to benefit from an anticipated PC and data center industry upcycle.
Further, Rakesh highlighted that the Altera FPGA business spinoff is estimated to add value at $17 per share. The analyst expects 2025 to be a key transition year due to the Intel Foundry Services ramp and the rollout of the 18A, the company’s most advanced node.     
Rakesh holds the 62nd position among more than 8,600 analysts on TipRanks. His ratings have been successful 60% of the time, with each delivering an average return of 19.1%. (See Intel’s Financial Statements on TipRanks). More

Private investments such as private equity, hedge funds, venture capital and stock in start-up companies generally require investors to be “accredited.”
In the early 1980s, the top 1% to 2% of households were accredited. In 2019, the share was 13%, according to the SEC.
Private investments can offer higher returns than publicly available ones such as mutual funds but come with more risks, experts said.

Fg Trade | E+ | Getty Images

More investors are getting access to investments previously earmarked for the wealthiest members of society — but it may be risky for some to participate, experts said.
Private investments — such as private equity funds, hedge funds, venture capital funds and stock in early stage companies — typically require investors to be “accredited.”

Generally, that means investors must have a certain income or household wealth to participate. Criteria include earned income of at least $200,000 a year for a single individual or at least $300,000 with a spouse, or a $1 million net worth, alone or with a spouse.
Such rules are meant to protect against the “unique risks” of private investments relative to public stocks and mutual funds, according to the Securities and Exchange Commission. For example, private investments may have fewer disclosures for investors. Accredited investors are seen as more financially sophisticated and able to sustain the risk of loss, the SEC said.
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Why more people may meet accredited criteria

But there’s a problem, according to investor advocates: The financial thresholds to become an accredited investor aren’t indexed to inflation; they haven’t changed in decades. As a result, the protective bar of “accredited” status has been diluted as wealth and incomes have naturally increased over time.
In 1983, “accredited” status was reserved for the richest households — roughly the top 1% to 2%, according to the SEC. However, 13% — about 16 million total households — qualified in 2019.

That expansion lets some middle- and upper-middle-class households into the fold — but many may not have the risk capacity or financial savvy to invest in private markets, said Micah Hauptman, director of investor protection at the Consumer Federation of America, a consumer advocacy group.
If it had been indexed to inflation since 1983, the threshold to be an accredited investor would be $629,000 of earned income for individuals, or a combined $3.1 million net worth today.
“A $1 million net worth doesn’t mean that much these days,” said Charles Failla, a certified financial planner and founder of Sovereign Financial Group. “You don’t have to be that sophisticated an investor to be in your 70s and have $1 million.”

The risks and rewards of private investments

Private investments are, as their name suggests, different from their publicly offered counterparts.  
Anyone can generally buy the stock of public companies on a stock exchange, or buy pools of stocks or bonds via publicly available mutual funds and exchange-traded funds. By comparison, private investments let people invest in companies that aren’t listed on a public exchange.
Even investing in, or possibly lending to, a friend’s or family member’s private startup may require accreditation, said Cassandra Borchers, a partner at law firm Thompson Hine.
Nonaccredited investors can invest in private start-ups via crowdfunding campaigns. However, there are limits on how much they can invest — generally up to 5% or 10% of their net worth — unlike with accredited investors.

A $1 million net worth doesn’t mean that much these days. You don’t have to be that sophisticated an investor to be in your 70s and have $1 million.

Charles Failla
founder of Sovereign Financial Group

The allure of private investments is they often “just have better returns” than their public counterparts, Borchers said. This is why she thinks it’s generally a good thing more people have gained access.
Private equity returns, for example, have outperformed the S&P 500 stock index by 1% to 5% on an annualized basis since 2009, according to a 2021 report by Michael Cembalest, chair of market and investment strategy for J.P. Morgan Asset & Wealth Management.
Mike Curtis, 58, an accredited investor based in Honolulu, Hawaii, has invested in more than a dozen private companies in the past 15 years. One he’s especially fond of: an investment in Shaka Tea, which earned him a profit of at least 400%, he said.
Julio Estela, 41, who lives in Wantagh, New York, made his largest private investment in 2021, in Green Coffee Company. Estela, an accountant and director of people at the insurer Lemonade, estimates he’s made a 60% to 70% return on his money since then.
Curtis and Estela declined to disclose the value of their respective investments.

But Curtis and Estela have also had some losers.
For example, one of Curtis’ failed ventures aimed to recycle wooden shipping pallets that arrived in Hawaii by rehabbing and putting them back into circulation.
“It was a neat idea,” said Curtis, managing director of finance at Elemental Excelerator, a nonprofit that invests in climate-focused startups. “We probably hadn’t researched it as thoroughly as we needed to, and it ended up going south.”

Why private markets are ‘two-tiered’

Hxyume | E+ | Getty Images

Some of the largest U.S. investors, such as pension funds, often have some exposure to private investments, proponents say. For example, 89% of public pension plans have private equity investments, which account for 11% of their total assets, according to a 2022 study of 176 plans conducted by the American Investment Council, a trade group. Public stock accounts for 46% of the plans’ assets.
However, private markets are “two-tiered,” said Hauptman of the Consumer Federation of America.
Mom-and-pop investors don’t get access to the best deals, which are often reserved for institutional investors such as pensions, Hauptman said. Pensions also generally have teams of consultants who specialize in evaluating the merits of private companies and funds — something most average investors can’t easily do, he added.
“I really think … people need to start with their 401(k), invest in [mutual] funds, learn the basics,” said Curtis, the accredited investor. “Investing in private companies is more of a graduate-level course. You don’t start without the prerequisite.”

Private investments also have a wider “dispersion” of returns than public markets. That means the range of investment outcomes, from high to low, is wider.
For example, from 2005-2019, private equity funds had a 21% average dispersion, as measured from the 5th percentile to the median fund return; by contrast, publicly traded stock pools had a dispersion of 3% or less, according to a 2021 SEC report, which cited data from Cambridge Associates.
As with public stock, betting on one private investment instead of pooling risk in a fund of many private companies is an even riskier strategy, experts said.
“If we’re talking about a startup, they have great rates of return when they work, but pretty horrible rates of return when they don’t,” Failla said. “It’s by nature a much higher risk potential and a much higher return potential, arguably,” he added.

What to know if you’re buying private investments

What this all means: Only invest the amount of money you’re willing to lose in private companies, Hauptman said.
Only invest in industries with which you’re familiar, he said. Investors should ask themselves: Do I have access to information — such as company financials, its business plan and its standing in the competitive marketplace — to determine if this is a viable business and is likely to succeed?

Often, mutual funds and ETFs are a better long-term approach for most people, Hauptman added.
“I know there are a lot of shiny objects. Sometimes it’s private investments, sometimes it’s crypto,” he said. “[But] slow and steady wins the race.” More

President Joe Biden’s new plan to forgive student debt is likely to look much different than his first.
Here’s what we know, so far.

U.S. President Joe Biden speaks about administration plans to forgive federal student loan debt during remarks in the Roosevelt Room at the White House in Washington, U.S., August 24, 2022.
Leah Millis | Reuters

President Joe Biden’s new plan to forgive student debt is likely to look much different than his first.
After the Supreme Court ultimately blocked Biden’s policy that would have cancelled up to $20,000 in student debt for tens of millions of people in June, the president immediately announced that he would attempt to deliver the relief another way.

His administration has already started that process, and established a “Student Loan Debt Relief Committee” — including Wisdom Cole at the NAACP, Kyra Taylor at the National Consumer Law Center and several student loan borrowers — to hash out the details.
Here’s what we know so far.

Reach of relief could drop to 10% of borrowers

Nearly 40 million Americans stood to benefit from Biden’s original student loan forgiveness plan.
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The president’s Plan B for relief is likely to be much narrower in its reach, said higher education expert Mark Kantrowitz. That’s because the justices ruled that the president’s original plan, which would have covered more than 90% of federal student loan borrowers, was too far-reaching.

″’Can the Secretary use his powers to abolish $430 billion in student loans, completely canceling loan balances for 20 million borrowers, as a pandemic winds down to its end?'” wrote Chief Justice John Roberts in the majority opinion for Biden v. Nebraska. “We can’t believe the answer would be yes.”
Less than 10% of federal student loan borrowers are likely to qualify this round, Kantrowitz said.
Luke Herrine, an assistant professor of law at the University of Alabama, also believes the next forgiveness policy will include far fewer borrowers.
“I think it would be easier to justify in front of a court that is skeptical of broad authority,” Herrine said in an earlier interview with CNBC.

Five groups of borrowers may be eligible

The Biden administration seems focused on still delivering relief to five specific groups of borrowers, according to a recent paper issued by the U.S. Department of Education. Those are:

Borrowers with current balances greater than what they originally borrowed.
Those who entered into repayment on their student loans 25 or more years ago.
Students who attended programs of questionable value.
Borrowers eligible for existing relief programs, including Public Service Loan Forgiveness, who just haven’t applied.
Debtors in financial hardship.

This forgiveness process is likely to take longer, experts say. Biden first tried to cancel student debt with an executive order in August 2022, and had promised borrowers the relief within six weeks of them completing their paperwork.
This time he’s turning to the rulemaking process. That procedure is lengthier, typically involving a public comment period and other time-consuming steps.
“Issuing new regulations can take as long as a year,” Kantrowitz said.
If the administration is successful this time, he said, borrowers could see their debt cancellation around the time of the 2024 presidential election. More

Year-end Planning

If you’re retired and giving to charity this season, there’s a planning move that can reduce your 2023 taxes, experts say. 
Qualified charitable distributions are direct gifts from an individual retirement account to an eligible charity and the transfer isn’t part of your adjusted gross income.
For 2023, investors age 70½ or older can use QCDs to donate up to $100,000 directly to their favorite causes.

Ольга Носова | Istock | Getty Images

If you’re retired and giving to charity this season, there’s a planning move that can reduce your 2023 taxes while donating to a worthy cause, experts say.
The strategy, known as qualified charitable distributions, or QCDs, allows retirees to transfer money from an individual retirement account to an eligible nonprofit organization.

“It’s like hitting two birds with one stone,” said certified financial planner Sean Lovison, founder of Philadelphia-area Purpose Built Financial Services. “You can donate up to $100,000 directly from your IRA to your favorite charity, and it doesn’t even count as taxable income.” 

More from Year-End Planning

Here’s a look at more coverage on what to do finance-wise as the end of the year approaches:

If you’re age 70½ or older, you can use a QCD to donate up to $100,000 for 2023. And thanks to Secure 2.0, that number adjusts annually for inflation starting in 2024.
Next year, the QCD limit jumps to $105,000, according to the IRS.

How QCDs provide a tax break

Since 2018, there’s been a higher standard deduction, which makes it tougher to claim a tax break for charitable gifts. But retirees can still benefit from a QCD — even when claiming the standard deduction — because the withdrawal isn’t counted toward adjusted gross income.   
If you’re age 73 or older, QCDs can also cover your required minimum distributions, which otherwise would have boosted income, experts say.

After preparing tax projections, you should aim to make QCDs in higher-earning years to maximize the tax break, added Lovison, who is also a certified public accountant.

Prevent other tax issues

Reducing adjusted gross income also minimizes the chance of other tax issues, according to Marguerita Cheng, a CFP and CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. She is a member of CNBC’s Financial Advisor Council.
For example, more income can push retirees into a higher tax bracket, boost Medicare Part B and Part D premiums or increase taxes on Social Security benefits, she said.

QCDs can be ‘more cumbersome’ 

While QCDs may offer benefits, the strategy is “more cumbersome” for tax reporting and administration, explained CFP Kevin Brady, a vice president at New York-based Wealthspire Advisors.
Typically, QCDs aren’t separated on Form 1099-R, which reports retirement plan distributions to the IRS.
For example, if you withdraw $60,000 from an IRA and $30,000 is for a QCD, the form will still show $60,000 in distributions in Box 1 (with no special code for QCDs), even though only $30,000 is taxable income.

To avoid issues, you’ll want to keep records of QCDs and other IRA distributions and flag for your preparer at tax time.
Plus, each QCD must be authorized with a signature from the donor, which requires donors to plan further in advance, Brady said. Like other charitable donations, you must get a written acknowledgement of the gift from the organization before filing your tax return. More

Subaru, Volkswagen, General Motors, Mercedes-Benz, Toyota and Honda Motor are among the vehicle manufacturers that have issued recall notices with the National Highway Traffic Safety Administration in November.
Luckily, the cost of recall repairs is covered by the automaker, not the driver.
Long-distance travel plans may change depending on the recall’s severity, experts say.

Rear view of couple traveling through car.
Maskot | Maskot | Getty Images

A recall on your vehicle can derail your travel plans, depending on the issue at hand. 
It’s an issue plenty of drivers have to consider this fall. Subaru, Volkswagen, General Motors, Mercedes-Benz, Toyota and Honda Motor are among the vehicle manufacturers that have issued recall notices with the National Highway Traffic Safety Administration in November — collectively affecting more than 2.3 million vehicles.

Among those, Toyota recalled nearly 1.9 million RAV4s to fix a battery issue that could potentially cause a fire. Honda Motor issued a recall last week on nearly 250,000 Honda and Acura vehicles due to a manufacturing error that may cause engine damage.
Luckily, “recalls are covered repairs by the automaker at no cost to the consumer,” said Tom McParland, contributing writer for automotive website Jalopnik and operator of vehicle-buying service Automatch Consulting. If a driver’s vehicle was recalled, they should make an appointment at their local dealer for the repair.
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Yet, as many Americans prepare to drive long distances to see family and loved ones for the holiday weekend, travel plans may need to change depending on the severity of a recall affecting your vehicle, experts say. 

Recalls occur ‘when there haven’t been any incidents’

Sometimes the government can compel automakers to recall their vehicles, but these notices usually occur after multiple people report the same problem or the automaker finds a flaw in the manufacturing process after an investigation, said Brian Moody, executive editor for Kelley Blue Book.

“It’s common for there to be a recall when there haven’t been any incidents yet,” said Moody.
Once the recall notice is issued, the manufacturer will send out mailed notifications to drivers, but those can arrive weeks or months later.
For example, the NHTSA notices say owner notification letters for Honda’s Nov. 2 steering control recall are expected to be mailed Dec. 18. For the Nov. 16 recall on damaged engines, drivers should expect to receive a notification on Jan. 2, 2024.
If you hear about a recall in the news, it can help to call the dealer or the automaker’s customer service line to determine if your car is affected, experts say.
“It’s not always that a recall applies equally to every single version of a model that you have. There may be limitations,” Moody said.

Travel plans ‘will depend on the nature of the recall’

As to whether or not travel plans should be altered, the decision will depend on the nature of the recall, said McParland.
“If the recall says possible transmission failure, that’s a lot more risky for long-distance travel versus a glitchy navigation system,” McParland said.
If you decide to rent a car instead of driving your own due to a recall notice, it’s unlikely to be reimbursed by the automaker.
“Usually rentals are not covered” as part of the recall repair, McParland said.

While some insurance policies may have a breakdown coverage and may provide rentals if the vehicle is in the shop for a major recall service, it is not the norm.
“It’s worth calling your carrier to ask,” added McParland.
It is more common for luxury automakers to provide their customers with loaner cars. Otherwise, it is up to the individual dealership or the manufacturer’s terms of sale, Moody said.
Here are three tips to help drivers navigate recalls:
1. Figure out if your car is affected
“There is a government database where folks can look up if their car is impacted by the recall,” McParland said. Drivers can put in their VIN into the NHTSA site. It will pull up all the recalls your car model has had, said Moody.
To see if the recall was already addressed, you can either check the government website or look through the manufacturer site, said Moody.
Drivers can also look into different online resources in addition to the government data, Moody said. Other website services can help you locate nearby repair shops and typical car issues your model may have.
If you receive a mailed notification from the manufacturer, follow the instructions and call your dealership as soon as you can.
2. Book an appointment ‘as soon as possible’
If your car is affected by a recall, “you want to make an appointment as soon as possible,” Moody said.
While the repair will be completed at no cost to the consumer, some dealers may have a backlog of appointments for a certain issue, said McParland. “An immediate repair may not be available,” he said.
3. Check if a mechanic is covered under the warranty
If you are facing a backlog of recall appointments at your local dealer and would opt to take the vehicle elsewhere for a faster service, ask the manufacturer first, said Moody. Contact customer service and explain your situation. The company may be able to cover the recall repair done by outside official channels, he said.
Otherwise, the rule of thumb for a recall is to take your vehicle to your local dealership of that automaker. There is a system in place where the manufacturer reimburses the local dealer and the service is free for the customer, Moody said.
Altogether, if you don’t know what the recall is for or don’t understand what the affected car part does, call your local dealer or manufacturer to ask, especially before you head out on a long trip.
“If you see something like ‘may lose control’, or ‘vehicle fire’ … maybe don’t drive until you find out for sure if the car is covered,” Moody said.Don’t miss these stories from CNBC PRO: More

Holiday discounts are abundant this year as retailers try to offload inventory.
Still, shoppers need to be savvy to find the best deals and stay within a budget.
These dos and don’ts can help shoppers avoid carrying holiday debt into the new year.

Aire Images | Moment | Getty Images

Holiday shoppers won’t have to look far to find deals this season.
While Covid-era supply chain strains have eased, consumer spending has declined, prompting many businesses to sweeten incentives to buy.

“This is the best discounting season in years,” said Ted Rossman, senior industry analyst at Bankrate and CreditCards.com.
“Retailers are offering generous discounts to move clothes, toys, electronics and other physical goods,” Rossman said.
Deals offering 30% off have become the floor, and they started as early as October, Rossman noted.
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But buyers beware: Some of those discounts may be offered on inflated prices, he said. Experts say the deals advertised now may not be the best prices offered over the year.

What’s more, you may be at risk for spending more than you intended to.
“You don’t want to be paying off this Christmas a year from now,” Rossman said.
To avoid a debt hangover in the new year, here are some dos and don’ts to keep in mind.

DO use unwanted gift cards

Almost half of adults, 47%, have at least one unused gift card, gift voucher or store credit, with an average value of $187 per person and $23 billion total nationwide, according to Bankrate.
For consumers, there is no incentive to holding on to gift cards. Some may even come with expiration dates.
“Find these gift cards and use them,” Rossman said.
If you don’t want to use it for yourself, consider using it to buy a gift for someone else or gifting them the gift card. Alternatively, you may resell the card on platforms such as CardCash or Raise for 70% or 80% of its value, Rossman said.

DO take advantage of credit card rewards

Many consumers also have credit card rewards available they have not yet redeemed.
If you have cash back rewards available, aim to redeem them monthly, Rossman said, as they do not get more valuable over time.

DO try combining deals

With a better than average discounting season in full swing, strategic shoppers can combine deals to get the best value.
Don’t stop at a brand’s 30% sale, Rossman said. You may be able to stack other discounts on top of that.
Try combining those deals with a credit card where you can earn rewards such as cash back, airline miles or other points. Just be sure to plan to pay the balance off in full to avoid interest. Also use a shopping portal such as Rakuten or Shop Through Chase to access additional discounts.

DO be vigilant about your purchases

In the haste to get your holiday shopping done, you may be vulnerable to schemes to steal your data and money.
Fraudsters prey on last-minute shoppers, who may be more likely to fall for offers that are too good to be true, Visa Chief Risk Officer Paul Fabara recently told CNBC.com.
To protect yourself, be sure to do some research on less familiar retailer names, make sure any websites you use are secure and use multifactor authentication that prompts you to verify your identify beyond just your password.

DON’T use credit cards without a plan to pay them off

The average credit card interest rate is now a record 20.72%, according to Bankrate.
“Avoiding that holiday debt hangover is so important,” Rossman said.
Try sticking to cash or debit card purchases where you can to avoid racking up debts.

If you are making purchases that will take you longer to pay down, be strategic. You may sign up for a new credit card that requires a minimum threshold for new purchases to unlock rewards. Alternatively, you may take advantage of a 0% balance transfer offer on an existing balance.
“If it’s money that you were going to spend anyway, and you’re avoiding interest, getting a new card could actually be really smart,” Rossman said.

DON’T use a store card without reading the fine print

Retail brand-name credit cards can provide a discount if you’re making a big purchase at one store.
But be wary: These cards come with the highest interest rates that in some cases are over 30%, Rossman said.
What’s more, the deal may include something called deferred interest. If you still have a balance once the term of the deal runs out, you may be charged for interest that would have otherwise accumulated.

DON’T overspend

It may be easy to get caught up in the holiday spirit, but don’t forget about your financial limits.
Since inflation is still squeezing everyone’s budgets, it helps to have a conversation with friends and family to set limits on gift giving, Rossman noted.
You may decide to set a dollar limit on gift spending or choose a name out of a hat for gifts for extended family rather than buying for every person, he said.Don’t miss these stories from CNBC PRO: More

ETF Strategist

As mutual fund investors brace for year-end distributions, experts have tips to lessen the tax burden in future years.
Investors should consider built-in gains before selling mutual funds, but past reinvestments may have added to the cost basis.
You may also consider diverting payouts to ETFs, rather than reinvesting distributions into the same mutual funds.

Kate_sept2004 | E+ | Getty Images

More from ETF Strategist

Here’s a look at other stories offering insight on ETFs for investors.

Many mutual fund families have released distribution estimates for 2023, with some paying out double-digit gains, according to Morningstar.
Here’s what to consider if you’re weighing a switch to ETFs to save on future taxes, according to experts.

Review your mutual funds’ cost basis

Glassman said many investors own mutual funds “going back years or decades” with significant gains. Selling these assets may trigger a tax bill when selling from a brokerage account. (You won’t immediately owe taxes when selling assets from a tax-deferred 401(k) or individual retirement account.)
Switching from mutual funds to ETFs may not be an advantage if there’s “a big enough capital gains hit,” said CFP Matt Knoll, senior financial planner at The Planning Center in Moline, Illinois.

If you’re distraught about ongoing distributions, then stop the madness.

Barry Glassman
Founder and president of Glassman Wealth Services

However, if you reinvested past mutual fund distributions, that payout was added to the so-called “cost basis” or original price of those shares.
“There may be some purchase lots that are even or have losses,” Glassman said. “People may be able to sell those and avoid the [capital gains] distribution on those shares.”

‘Stop the madness’ and don’t reinvest

Investors with mutual funds in a brokerage account may be stuck with this year’s payout, Glassman said. But there’s an easy way to reduce next year’s capital gains distributions.

“If you’re distraught about ongoing distributions, then stop the madness,” he said. “Take it in cash and reinvest it in something similar, but more tax efficient.”
While it’s relatively quick to make the change from your account — often simply unchecking a box — Glassman said it’s a strategy that is “rarely used.” More

The U.S. economy has so far defied predictions of a coming recession, but many large companies are laying off workers.
Here’s what to know about jobless benefits.

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The job market is undeniably cooling.
Though the Labor Department’s weekly jobless claims report released on Wednesday showed initial claims for state unemployment benefits dropped 24,000 to a seasonally adjusted 209,000 in the week ending Nov. 18, figures for new and continuing claims remained near highs for this year.

Several large companies have been laying off workers. Over the past few months, Roku, Discord, Liberty Mutual and Citigroup announced deep cuts to their head count.
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A job loss can be traumatic, emotionally and financially. Fortunately, the unemployment insurance program, created in 1935, offers support to certain people who’ve experienced a disruption to their pay.
Here’s what to know.

Don’t assume you’re ineligible for benefits

Generally, to be eligible for unemployment benefits, you must have lost work or wages “through no fault of your own,” Michele Evermore, a senior fellow at The Century Foundation, told CNBC in a previous interview. If your company was downsizing or said the cuts were not tied to performance, you likely are eligible for the benefit.

Yet not all cases are so clear cut, and many people prematurely exclude themselves from the program, Evermore said. “There’s a lot of mythology around who qualifies.”
As a result, it can’t hurt to put in a claim.

Unemployment programs vary by state, but in some places, people can get the benefits even if they’ve quit.
For example, if their employer asked them to transfer to a new location where their commute would be unreasonable, or if they had to leave their job because their partner’s employment was relocated, they may be able to collect.

Apply for unemployment quickly

In some states, it can take weeks for your claim to be approved, so the sooner you file, the better.
“As soon as you leave your job, you should be on your way to the unemployment insurance office,” Evermore said.
While most states have a one-week waiting period before they can start paying you benefits, you don’t have to wait to request the relief, she said.
Apply with your state unemployment office. You can typically submit an application online or over the phone.

Assess program requirements

To receive unemployment benefits, you have to be able to work and actively be seeking new employment, Evermore said.
States have different ways of making sure you’re looking for work, she added. In some cases, you’ll be responsible for keeping a log of work search efforts on your own, and in other states, you’ll have to call in to the state unemployment office and share what jobs you’ve applied to on a regular basis.
When you apply, make sure you learn about how to fulfill any requirements in your state, so that your benefits continue.

Get a handle on taxes

Unemployment benefits are subject to federal levies and most states tax them, too.
When you start to get unemployment payments, your state will typically give you the option to have taxes withheld.
“I’d always take that option,” Evermore said. “You could be in for a long spell of unemployment and then get hit with a big tax bill.”

Look for other aid, too

In the second quarter of 2023, the average weekly unemployment benefit was around $424. But there’s a large range in the payments by state.
There are other resources, too, for people struggling financially due to job loss, Evermore said.
“Unemployment insurance isn’t the only program in the world,” Evermore said, adding that out-of-work people can also try applying for food stamps and other relief.

You may also need to figure out a plan for getting new health insurance.
“As overwhelming as it may be, it’s important to look for coverage quickly,” said Caitlin Donovan, a spokesperson for the National Patient Advocate Foundation, a nonprofit. “The last thing you want to do is remain uninsured.”Don’t miss these stories from CNBC PRO: More