SpaceX Hits $350B, TikTok Drama, and Party City's 2nd Bankruptcy

Welcome Back, Fellow Parent

As we wrap up the year, there's no better time to think about setting some clear, manageable financial goals for 2025.

Whether you're hoping to save more, pay down debt, or start investing, taking just a few minutes now to map out your goals can make all the difference.

Here are some simple steps to get you started:

Reflect on 2024

Start by looking back at this year.

What went well?

Did you hit any financial milestones—like paying off a credit card, saving for a vacation, or even just building an emergency fund?

Celebrate those wins, no matter how small, because they prove you can make progress. And for the areas that didn’t go as planned, it’s okay.

The goal is to learn, not dwell.

Take some time to write down what worked and what didn’t. For example, did you find success in meal planning to save on groceries, but maybe struggled to stick to a holiday budget?

Knowing what strategies clicked for you will help you refine your approach moving forward.

Pick One Big Goal (and a Few Small Ones)

It’s easy to get overwhelmed by too many goals, especially when managing a family, work, and everything in between.

For 2025, pick one big financial goal that would make a real difference for you—maybe paying down a chunk of debt or saving for a home renovation.

Then, add a couple of smaller, achievable goals, like setting up automatic transfers to savings or reducing unnecessary spending.

Think of your big goal as your “North Star”—it should be something that, if achieved, would bring significant relief or improvement to your financial life.

The smaller goals are stepping stones that will build momentum and keep you motivated.

Break It Down

The key to actually achieving your goals is to make them actionable.

If your big goal is saving $5,000 by the end of the year, break it down into monthly ($417) or even weekly ($96) targets. Instead of focusing on the big number, think about what you need to save each paycheck to get there.

This makes it feel less daunting and more doable.

You can also automate your savings so that you don't even have to think about it. Set up automatic transfers to a savings account every time you get paid—this makes it much easier to stay on track without relying solely on willpower.

Celebrate small wins along the way to keep your spirits high.

Remember, the goal here is progress, not perfection.

Life with kids can be unpredictable, and sometimes financial plans need to flex. But by having a clear goal in mind, you’ll have something to guide you, even if the path isn’t perfectly straight.

Be kind to yourself if things get off course—it’s all part of the journey.

Money News  

Here’s a quick roundup of interesting things happening across the markets:

1. TikTok files an emergency appeal to delay the Jan. 19th divest-or-ban law. They recently lost an appeal and plan on bringing their 1st amendment case to the Supreme Court.

2. The Fed is expected to drop interest rates this week by another .25 basis points. Every cut should help over the next year or so.

3. Stanford University received a grant from Charles Schwab to create a personal finance course for their students. The goal is to test and learn the best approach to teach the next generation about how to manage their money effectively.

4. Party City may be filing for bankruptcy, again. This is within two years, I wonder if it’s a sign to finally call it quits?

5. With a valuation of $350B, SpaceX has now earned the title of “Most Valuable Startup.” This is on top of Musk’s startup xAI (valued at $50B) and Tesla (valued at ~$1.5T).

If you’re looking for additional interesting things to read, below are a few free newsletters I recommend, from one parent to another. Make sure to confirm your subscription to give them a try.

Outro

This will be the final issue of the year. School closes today so I'll be on toddler duty through the end of the year (I don't remember winter break being this long but oh well).

Wishing each of you the best and I'm excited to grow together in 2025.

If you have a minute, hit reply and share your biggest financial question about kicking off the new year on the right foot.

I personally reply to all emails, and who knows—your question might make it into an upcoming newsletter (anonymously, of course) to help other parents in our community!

See you soon,

The Dollar Dad

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