What are your top financial tips or advice for the end of the year?

Perspectives | Banking + Finance

Perspectives Banking Donelon Meghan 2

Meghan L. Donelon

New Orleans Market President
Red River Bank

The past few months of interest rate hikes, coupled with a possible recession, are good reminders to maintain a strong relationship with your local banker. Open and honest conversations about finances can be uncomfortable, but having those discussions now will provide you with the confidence and tools to continue to operate your business and manage your personal finances long after we weather this storm. It’s also important to stay financially disciplined during the holiday season. Many retailers are over-inventoried and will entice consumers with holiday sales; however, the prices of gas, food, and housing should remain high for the foreseeable future. Keep the lines of communication open with your local bank and stay disciplined with spending.

Perspectives Banking Ferris Chris

- Sponsors -

Chris Ferris

President & CEO
Fidelity Bank and NOLA Lending

My best consumer financial tip for the end of the year is to not put yourself in debt with holiday spending. It’s easy to get caught in a gift-buying frenzy, but if you have to go in debt to do it, it’s a mistake and a pitfall to avoid.

One popular payment feature right now is buy now, pay later. Unlike the old layaway plans, this purchase option allows you to leave with your purchase immediately and not have a payment due or have a reduced payment for a specified period of time.

- Partner Content -

Sunni LeBeouf

Black History Month Spotlight This Black History Month, Cox Communications is proud to recognize Sunni LeBeouf for her prolific record of professional achievement, civic philanthropy,...

While this can be a great interest saving benefit for tho-e who can pay off the item during the grace period, most people do not make substantial payments during the grace period. This can result in interest due and often a hefty monthly payment, which can cause more hardship for the consumer.

Perspectives Banking Freeman Jared

Make it a priority to get financially fit in 2023. Start with an emergency fund. If you haven’t already, save up to $1,500 in an account that you can access for unforeseen events like car repairs.Review your subscriptions. Americans spend upwards of $100 per month in subscriptions, many of which they don’t use.Learn what your credit score is and how to improve it. At OnPath, we have an app called Savvy Money that gives members access to credit education and tips. The more you know, the better your financial decisions will be.

Jared Freeman, President and CEO of OnPath Federal Credit Union

- Sponsors -

Perspectives Banking Cohen Jarrett

Jarrett Cohen

Principal and Chief Investment Officer

Financial markets, especially the U.S. stock markets, are incredibly volatile and uncertain, but they always are. Shelby Davis, an investing legend, famously said, “You make most of your money during a bear market. You just don’t realize it at the time.” Now is that time. We’re advising our clients to stay the course, and more importantly, encouraging them to dig up the backyard to invest more. As such, our proprietary strategies are fully invested as we’re finding very compelling opportunities today.

Financial Planning

Ignore tax loss harvesting hoopla and other bogus financial-planning ideas that financial advisors bestow to appear intelligent. Most times, doing nothing is in fact the best decision to make. However, one should reassess as regularly as one’s gut will allow.


Eggs are $4 a dozen today; I doubt they’re going down to $1. Inflation is a compounding mechanism. Thus, the Fed’s sentiments about getting back to 2% inflation are misleading because the 2% will compound on the recent 8% figures. Investing in high-quality stocks is by far the best way to maintain your purchasing power over time. Investors should think about this going into year-end as their cash compounds increasingly negative real rates of return.

Global Economy

Financial markets and economies are often negatively correlated. The U.S. economy is performing very strong on many accounts today, yet we find U.S. stocks in a bear market. The U.S. economy was propped up by the Fed the past 15 years, but the U.S. stock market continually set new highs. I’d wager that the U.S. stock market will surprise many people in the near term but with heightened volatility — not risk of permanent loss of capital.

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter