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🥳2️⃣0️⃣2️⃣5️⃣🎊- Is a High-Yield Savings Account Right for You?

The Bakersfield Brief! Everything you need to know, Briefly!

2025 is here!!! Hope everyone had a fun and safe celebration ringing in the new year. Time to bust out those vision boards and make some goals. This year, we want The Bakersfield Brief to be your go-to source for everything happening around town—news, events, and hidden gems you won’t want to miss. Let’s start the year off strong!

Today’s brief includes:

  • ⚖️New California Laws

  • 📣2025 Goal Setting and Ideas

  • 💵Wealth Wednesday - is a high-yield savings account right for you?

  • 💃/📺NYE Poll

Enjoy!

Weather Forecast

Wednesday - 57°⛅ | Thursday - 58°⛅ | Friday - 64°⛅

Brief Update…

New California Laws in 2025

California has some new laws in 2025. Although many will be implemented, below are some to note:

  1. Tackle organized retail theft - mandating felony charges for stealing over $950 of goods for resale and vehicle break-ins with similar intent.

  2. Collaborative courts expand treatment options for drug offenses, youth cases, and mentally incompetent defendants.

  3. AI businesses must label AI-generated content by 2026.

  4. Tenants now have 10 days to respond to eviction notices.

Minimum Wage

California’s minimum wage will rise to $16.50 in 2025, while San Diego will increase it to $17.25 on January 1. The increases aim to keep pace with inflation, though experts argue the wage still falls short of covering basic living costs. A rejected proposal, Prop 32, would have raised the state’s minimum to $18 for larger employers. Cities like San Francisco and Los Angeles will implement even higher wages. Advocates say the increases help families manage rising costs, though affordability challenges persist for many households.

source: msn.com

Events

New Year, New You - Set Your Goals

New Year’s Resolution Ideas:

  • Start a daily 15-minute workout routine

  • Learn a new skill

  • Create a monthly budget

  • Journal your thoughts - my 82-year-old grandmother said at Christmas she wishes she had journaled when she was younger to remember and reflect on her younger years.

  • Plan monthly outings with friends

  • Visit a new city

  • Learn to play a musical instrument

  • Try a new recipe every week

Many more ideas here: 75 New Year’s Resolution Ideas

How to Stick to Your Goals:

  1. Start small, think big - break the goal(s) down into manageable steps.

  2. Outline why you are taking on this challenge - why is the goal important to you.

  3. Use the S.M.A.R.T goal framework - Specific, Measurable, Achievable, Relevant, Time-bound.

  4. Create a support system - helps to have an accountability team or buddy to help you through those tough days.

  5. Track progress, not perfection - celebrate the small wins.

Remember: You are 42% more likely to achieve your goal if you write them down.

Create a vision board to remind yourself of your goals. If you need inspiration, here are some vision board examples: piktochart.com

Wealth Wednesday

Are high-yield savings accounts worth it?

A high-yield savings account, a type of savings account offered by online banks, offers higher interest rates than traditional accounts, making it ideal for short-term goals and emergency funds. It is FDIC/NCUA insured, has low fees, and is easy to access, though it may have withdrawal limits and fluctuating rates. While great for short-term savings, it may not provide sufficient long-term growth compared to other investment options.

source: forbes.com

Sports

Scoreboard

Monday Night Football (NFL):

  • Detroit Lions defeated the San Francisco 49ers 40 to 34

New Year’s Eve Poll

How do you prefer celebrating NYE - going out or staying in?

Select your vote below.

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