Indeed, as the year was ending, such thoughts brought many individuals into what would become a bright New Year, and necessary bank and market schedules were perhaps for the New Year celebrations. These details, most particularly, might prove even more significant in terms of planning financial activities or even last-minute errands during the holiday season.
New Year involves eve bank operations because it isn’t a federal holiday, and this year 2024 evens on a Tuesday. Most banks would, therefore, remain open during normal operating hours. However, on New Year’s Day, January 1, 2025, banks will be closed entirely for that day all across the United States as a federal holiday. So plan ahead before the New Year begins because it will also affect any financial transaction you may need to complete.
There is the stock market schedule on New Year’s Eve that is commonly asked by investors. If New Year’s Eve is a weekday—just like this year’s pattern—the equities market, consisting of the Nasdaq Stock Market and the New York Stock Exchange (NYSE), follows normal trading hours of 9:30 a.m. to 4:00 p.m. Eastern Time. However, the bond market will close early, wrapping up operations at 2:00 p.m. Both markets will remain closed on New Year’s Day.
Plan ahead for a smooth transition into the new year
With the start of a new year, it’s not just bank schedules to keep in mind—tax season and financial planning also come into focus. Now is a great time to prepare your finances and take advantage of opportunities to optimize your financial situation.
Bank holiday schedule for 2024 and 2025
It’s very useful to have a complete list of bank holidays in the U.S. when you are planning the coming year’s activities. During these federal holidays, banks remain closed; therefore, it is time to huddle and make your deposit, transfer, or any related bank errands earlier. The following is a breakdown of federal bank holidays:
2024 bank holidays:
- January 1 (Monday): New Year’s Day
- January 15 (Monday): Martin Luther King Jr. Day
- February 19 (Monday): Presidents’ Day
- May 27 (Monday): Memorial Day
- June 19 (Wednesday): Juneteenth National Independence Day
- July 4 (Thursday): Independence Day
- September 2 (Monday): Labor Day
- October 14 (Monday): Columbus Day/Indigenous Peoples’ Day
- November 11 (Monday): Veterans Day
- November 28 (Thursday): Thanksgiving Day
- December 25 (Wednesday): Christmas Day
2025 Bank Holidays:
- January 1 (Wednesday): New Year’s Day
- January 20 (Monday): Martin Luther King Jr. Day
- February 17 (Monday): Presidents’ Day
- May 26 (Monday): Memorial Day
- June 19 (Thursday): Juneteenth National Independence Day
- July 4 (Friday): Independence Day
- September 1 (Monday): Labor Day
- October 13 (Monday): Columbus Day/Indigenous Peoples’ Day
- November 11 (Tuesday): Veterans Day
- November 27 (Thursday): Thanksgiving Day
- December 25 (Thursday): Christmas Day
Financial Tips for the New Year
With the holiday season ending, take the opportunity to lay a strong foundation for the year ahead. Here are a few suggestions:
- Review the New Standard Deductions: Stay updated on the latest standard deduction amounts for your 2024 and 2025 tax returns to maximize your tax savings.
- Utilize Clean Energy Tax Credits: If applicable, explore clean energy tax credits to reduce your tax bill.
- Plan Your Investments: Use the downtime during the holidays to reassess your portfolio and make adjustments for the coming year.
Being proactive about these steps can help you make the most of your financial resources and start the new year on a positive note.
Read more: FDA warns of risk from prebiotic supplement recalled in 25 states – Review lots affected by massive recall.
Whether you’re managing personal banking, planning tax returns, or keeping an eye on investment markets, knowing these schedules and tips can save you time and effort. Prepare ahead to ensure a seamless transition into the New Year!
