Tips to boost savings in 2025, including cutting expenses, paying off debt, and automating savings.

From Yahoo Finance: 2025-07-03 10:00:00

Hold on to your financial hat, because 2025 isn’t showing any signs of slowing down the economic rollercoaster it has taken everyone on so far. Consumer confidence is shaky at best thanks to President Trump’s tariff policies and proposed legislation, along with the ongoing rise in everyone’s cost of living.

With many economists whispering warnings of a recession, there are still ways to boost your savings in 2025. Here are nine financial moves to try right now. Your financial situation may look different year to year, consider new goals to save more.

To pad your savings account, consider dining out less, canceling unused subscriptions, or investing in energy-efficient appliances. It’s smart to use credit cards only if you have no debt and a savings cushion. Others should consider spending only what they have in cash to save more.

Paying off high-interest debt is crucial. Consider the “snowball method” where you pay off your smallest balance first to create a snowball effect. Think of savings as a financial obligation, pay yourself first. Automate savings by having a percentage of your income go directly to savings.

The 50/30/20 rule allocates 50% for necessities, 30% for wants, and 20% for savings or retirement funds. Consider moving savings to a high-yield savings account or CD for higher interest rates. Plan for 10 more years of expenses in retirement savings and meet with a financial expert for personalized advice.

Read more: 9 Financial Moves To Boost Your Savings in the Second Half of 2025