Money.com

Doing your taxes is already complex and annoying — don’t let it be expensive, too. There are many ways you can submit your income tax return for 2024 for free, including through TurboTax.

More than 10 million people file their taxes for free each year through TurboTax, which is owned by Intuit. Right now, there are two main ways folks can use TurboTax to do their taxes at no cost. (More on that below.)

If you’re looking for other options, you might want to start with the IRS itself. It offers free guided tax prep through its Free File and Direct File programs.

Is TurboTax free?

Filing with TurboTax can be free if you have a simple 1040 tax return with no special situations and do not opt for any add-ons, or if you take advantage of its limited-time app offer. We’ll cover these later in this article.

Historically, though, there has been some controversy about whether or not TurboTax’s “free” offerings were really free.

Intuit announced in 2021 that it was choosing not to renew its participation in IRS Free File. Though TurboTax had been part of IRS Free File since its 2003 launch, the company pulled out, blaming “limitations within the program and conflicting demands from those outside the program.”

It wasn’t a smooth exit. The decision came a few years after ProPublica published a story alleging that TurboTax was using code to purposefully hide its IRS Free File product from Google and other search engines. (After the article went live, Intuit changed the code.)

In March 2022, the Federal Trade Commission filed a legal complaint accusing Intuit of running deceptive ads that tricked folks into thinking doing their taxes through TurboTax was free, only to learn at the end of the process — “after they have invested time and effort gathering and inputting into TurboTax their sensitive personal and financial information” — that they’d have to upgrade to a paid service.

Then, in January 2024, the FTC formally prohibited Intuit from advertising anything as free unless “unless it is free for all consumers or it discloses clearly and conspicuously and in close proximity to the ‘free’ claim the percentage of taxpayers or consumers that qualify.” Intuit appealed, saying in a statement to Money that “over the last 11 years, we’ve helped more than 130 million Americans file their taxes free of charge — more than all other tax prep software companies combined.” It added it “has always been clear, fair and transparent with its customers and is committed to free tax preparation.”

Can I file my 2024 taxes for free through TurboTax?

Yes, depending on how you do it.

First there’s TurboTax Free Edition, for which Intuit says about 37% of taxpayers qualify. This DIY free edition can be used to file simple Form 1040 returns only, meaning it’s not for any schedules except for those associated with the earned income tax credit, child tax credit and student loan interest. TurboTax Free Edition is available year-round; you can also file state taxes this way.

There’s also a limited-time-only mobile app offer that lets you file your taxes for free. This has a handful of restrictions. You qualify only if you did not use TurboTax to file your 2023 tax return, and you must start and finish your own individual taxes in the TurboTax mobile app by 11:59 p.m. ET on Feb. 18. This TurboTax app deal applies regardless of how complex your taxes are, and you can file state taxes for free this way. (However, note that TurboTax Live products aren’t eligible.)

When is TurboTax not free?

Although you can start a return for free and pay only when you file, TurboTax is ultimately not free when you choose certain advanced services or add-ons. And prices tend to change throughout the tax season, so the longer you wait, the more expensive it tends to get. (This is not solely a TurboTax phenomenon — other tax prep companies hike their prices closer to the April 15 deadline, too.)

According to Karen Nolan, an Intuit TurboTax spokesperson, the cost for DIY Deluxe service is currently $39 for federal taxes and $39 for state. The DIY Premium option — tailored for investors and self-employed taxpayers — is $89 for federal and $39 for state.

If you choose TurboTax Live Assisted, which lets you access unlimited expert help and have an expert look over your federal return before you file, costs will range from $39 to $169 for federal and $39 to $49 for state, depending on what service level you select. On March 1, the base price for the basic level of TurboTax Live Assisted will increase by $30, and the deluxe and premium levels will increase by $40.

And if you opt for TurboTax Live Full Service, in which an expert does your taxes for you, pricing currently starts at $89 for federal and $49 for state. On March 1, that base price will rise to $119.

On its website, TurboTax says prices are “based on your actual tax situation and forms used,” given that “more complicated tax situations and higher levels of tax expert services may cost more, depending on the product you select.”

If you add a feature like Audit Defense, which is part of the PLUS and MAX bundles, you’ll incur extra charges. You’ll also have to pay for the 5 Days Early Refund perk, which is a $25 flat fee, per a news release.

Why is TurboTax not free?

Not all TurboTax products are free because it’s a business.

TurboTax is owned by Intuit, which is a public company. In the first fiscal quarter of 2025, which at Intuit ended Oct. 31, Intuit says it brought in $3.3 billion in revenue.

On its website, TurboTax has a frequently asked questions section that tackles the issue of “how does TurboTax make money?” The answer: “We want our customers to love our products and services. Because we have customers who pay for our premium products and services, we can offer free tax filing to many customers.”

Who gets TurboTax free?

Intuit says 37% of taxpayers qualify to use TurboTax’s DIY Free Edition, which is meant for filing simple Form 1040 returns only. If you didn’t use TurboTax last year and you file through its mobile app this year, it’s free through Feb. 18.

Online TurboTax products are also free if you’re an active-duty or reserve member of the U.S. military. If you get a W-2 from the Defense Finance Accounting Service (DFAS), you qualify for free federal and state tax prep through TurboTax, no matter what level of service you choose, Nolan says.

Other ways to file your taxes for free in 2025

Taxpayers with adjusted gross incomes of $84,000 or less are eligible for IRS Free File, a public-private partnership that unlocks free guided tax prep from one of eight name-brand companies. Above that income threshold, you can access Free File Fillable Forms, which is not guided and requires more tax knowledge.

Another route is IRS Direct File, a relatively new initiative that enables taxpayers who lived and worked in 25 states in 2024 to file federal taxes online directly with the IRS. Those states include Alaska, Arizona, California, Connecticut, Florida, Idaho, Illinois, Kansas, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin and Wyoming.

You may also be able to find a free e-filing product through another third party, like H&R Block, or access free tax prep through the IRS’s Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) initiatives.

More from Money:

Tax Season Is Underway. Here’s What to Know — and How to Get Your Refund ASAP

How to File Back Taxes

7 Best Tax Relief Companies of 2025

The year is officially underway, and while you may have abandoned your resolutions — oops — you can still stay on top of your Social Security benefits. Grab a calendar and mark down the Social Security payment schedule for February.

Roughly 68 million Americans receive Social Security benefits every month, including about 9 out of every 10 people age 65 and up. Social Security funds aren’t just for older folks, though. Payments go out to retirees, survivors of late workers, those with little to no resources, disabled workers, the blind, dependents and more.

The average payments for those various groups of people vary, but data from January shows the typical retirement benefit was about $1,976.

When will I get my February Social Security payment?

Your Social Security payment date is determined by your birthday.

If you were born on the first through the 10th of the month, you can expect to get your Social Security check on the second Wednesday of every month — in this case, Feb. 12.

If you were born on the 11th through the 20th of the month, you can expect to get your Social Security check on the third Wednesday of every month — in this case, Feb. 19.

If you were born on the 21st through the 31st, you can expect to get your Social Security check on the fourth Wednesday of every month — in this case, Feb. 26.

Supplemental Security Income, or SSI, payments typically go out on the first of the month. But because Feb. 1 falls on a Saturday, the payments have been moved up to Friday (Jan. 31).

Folks who get both SSI and Social Security, as well those who initially claimed Social Security prior to May 1997, should get their Social Security benefits on the third of the month as per usual.

Where is my February Social Security payment?

Check the payment schedule above.

If you think your money is missing, you can reach out to the Social Security Administration (SSA). The SSA has both local offices and a toll-free national number. The national phone number is 1-800-772-1213. Representatives are available weekdays from 8 a.m. to 7 p.m. local time. Pro tip: The agency says wait times are shortest in the morning, late in the week and late in the month.

In any case, the SSA asks that you wait three mailing days before contacting it about a missing Social Security payment.

Is Social Security affected by Trump’s funding freeze?

On Monday, the Office of Management and Budget put out a memo telling agencies to temporarily pause “all of their federal financial assistance programs” to evaluate their costs starting Tuesday afternoon. That memo has since been rescinded; however there’s still confusion as to whether federal funding will continue as planned.

Even if the funding freeze does take effect, the memo specifically mentioned that “nothing” in it “should be construed to impact Medicare or Social Security benefits,” so those payments should not be impacted.

What is the SSA payment schedule for 2025?

You can find the SSA’s 2025 payment calendar on its website. It largely follows the schedule laid out above, but as you can tell, some months are different.

For instance, SSI checks for February will go out Jan. 31, the ones for March will go out Feb. 28, and then there won’t be another SSI payment until April.

To learn more about your payment status or to get additional help with Medicare, retirement benefits, disability, SSI and more, make a “my Social Security” account for free at SSA.gov.

How do I calculate my Social Security payment?

Benefits are generally calculated according to your average indexed monthly earnings, which include up to 35 years of your highest-earning years. The SSA then applies a formula to determine your primary insurance amount.

The amount of money retirees actually receive depends partially on their age. Though you can start getting Social Security retirement payments at 62 years old, the longer you wait to claim Social Security, the higher your payments will be (until age 70, when the increases stop).

For many Americans, this money is crucial — Social Security accounts for about 30% of the income received by folks over age 65. As people live longer and legislators wrestle over future of Social Security, the cost of retirement for retirees is surging: In 2022, federal data shows retired households spent an average of $54,975, including $11,186 on shelter, $8,065 on transportation and $7,505 on health care.

More from Money:

Millions of Americans Could Get Higher Social Security Benefits if Bipartisan Bill Passes

Democrats and Republicans Actually Agree on These Ideas to Fund Social Security

Raising the Retirement Age for Younger Workers Is the ‘Most Likely’ Social Security Fix

The strong performance of gold in 2024 and so far this year has everyone looking to add a little glitter to their portfolios. As of January 29, gold’s price is over $2,759.30 per troy ounce, good for a gain of more than 35% over the past year and hovering around its all-time high.

That gain over the past year has outperformed the stock market by more than 12%. For investors looking to gain exposure to the precious metal as a means of diversifying their portfolios, investing in a gold individual retirement account (IRA) can be appealing. But, gold IRAs are quite different from traditional or Roth IRAs, and the process of opening one can be overwhelming.

To help investors new to this asset class make the adjustment, some gold dealers and gold IRA providers offer specialized gold IRA kits. These kits contain comprehensive guides and resources, and may include other perks like account credits or discounts on storage.

Here’s what you need to know about gold IRA kits, and where you can get one for free.

What is a gold IRA kit?

Unlike employer-sponsored retirement plans and traditional or Roth IRAs, which only permit you to invest in stocks, bonds, mutual funds and ETFs, a gold IRA is a type of self-directed retirement account — or SDIRA — that allows you to invest in gold, other precious metals and alternative assets like real estate.

Gold IRA kits are packages of materials offered by some gold IRA companies. These kits are designed as starter guides for new gold investors. Although the specifics of each kit will vary by company, gold IRA kits usually include the following:

• Details on gold IRAs: Gold IRA kits will include in-depth information on gold IRAs, how they work, how they differ from traditional or Roth IRAs, details about secure gold storage and insuring your precious metals as well as the pros and cons of investing in gold.
• Information on IRA transfers: If you’re planning on opening a gold IRA by transferring an existing IRA or converting a 401(k) into an SDIRA, the gold IRA kit will have step-by-step instructions on how to do so.
• Latest trends: Gold IRA kits will usually include the latest information about the gold and precious metals industry, including updated pricing information, historical data on gold’s performance and expert analysis.
• Other perks: With some companies, gold IRA kits will also include other benefits. For example, you may be eligible for free silver if you rollover another IRA, or you may be eligible for discounted or free storage at a gold depository.

Kits can come in many forms, including hard copies that you receive in the mail, videos or online or mobile-friendly guides.

Popular gold IRA kits

There are numerous companies offering precious metal IRAs and gold IRA kits, but these are some of the leading options available now:

American Hartford Gold

Since 2015, American Hartford has been a leading precious metals dealer. The Los Angeles-based company offers a free gold IRA kit to new investors, and the kit is robust.

When you sign up for the gold IRA kit with American Hartford Gold, you can enjoy benefits like free account setup, free insured shipping, free storage for up to five years and educational materials. Plus, you could be eligible to receive up to $15,000 in free silver after making qualifying purchases to fund a new gold IRA.

Birch Gold Group

Birch Gold Group has been in operation since 2003. The Iowa-based company offers a variety of precious metals and is a leading gold IRA provider.

Birch Gold Group’s gold IRA kit is a 24-page document outlining information on gold IRAs, the precious metals industry and details on complying with the IRS. Plus, if you invest $50,000 or more in a gold IRA with the company, you can qualify for free precious metals; depending on how much you invest or rollover, you may be eligible for up to $10,000 of free gold.

Priority Gold

Priority Gold is a gold IRA provider and precious metals dealer located in Texas. With its gold IRA kit and wealth preservation guide, you can get detailed information on the gold industry and step-by-step tips for setting up a new account.

When you open a new Priority Gold IRA and meet certain rollover requirements, you can qualify for up to $5,000 in free precious metals. Additionally, Priority Gold offers other perks, such as free shipping and storage for some customers.

Opening a gold IRA

If you’re new to the precious metals industry and want to open a gold IRA, follow these steps:

• Choose a gold IRA company: Many companies offer gold IRAs, but they differ in terms of fees, available precious metals and customer service. You can check out our picks for the best gold IRA companies to get started.
• Decide how to find your IRA: Typically, you can rollover an existing IRA or 401(k). Or, you may invest new cash by transferring funds from your bank. However, be aware that gold IRAs are subject to the same contribution limits as other IRAs. As of 2025, the contribution limit is $7,000 (or $8,000 if you’re age 50 or older).
• Choose your investments: With a gold IRA, you can only invest in gold coins and bars that meet IRS purity standards. Potential options include American Eagle bullion and proof coins, Canadian Maple Leaf coins and U.S. Buffalo bullion coins.
• Diversify your investments: While gold may be a worthwhile addition to your portfolio, experts recommend limiting your gold to a percentage of your portfolio. Most experts agree that alternative investments, including gold, should make up no more than 5–10% of your overall portfolio to ensure that you’re properly diversified.

To learn more, read Money’s guides to the best gold IRA companies and the best online gold dealers.

More from Money:

Beginner’s Guide to Investing in Precious Metals

How to Use Gold for Retirement Income

Should You Open a Gold IRA?

The Trump administration panicked consumers and sent shockwaves through government agencies when it sent a memo Monday night calling for a funding freeze to go into effect at 5 p.m. Tuesday, potentially pausing a broad range of grant, loan and aid programs that may conflict with the new president’s priorities.

But then, right before the deadline, a federal judge temporarily blocked the federal funding freeze after an emergency hearing.

Previously, the White House had instructed agency heads to temporarily pause spending in areas including “financial assistance for foreign aid, nongovernmental organizations, DEI, woke gender ideology and the green new deal,” according to the memo from Matthew Vaeth, acting director at the Office of Management and Budget (OMB).

Lawmakers, government officials, states and other stakeholders are still looking for answers about what this directive actually means. The memo noted that the government spent more than $3 trillion in federal financial assistance in fiscal year 2024, but it’s unclear how much of this spending could be paused as a result of President Donald Trump’s latest action.

Adding to the confusion: Some of the things that Trump is targeting aren’t even laws. For example, the Green New Deal was a sweeping climate resolution first introduced by Rep. Alexandria Ocasio-Cortez, D-N.Y., in 2019 that has not been passed. It’s possible the OMB memo is referring to climate actions that were included in the Inflation Reduction Act, which Congress passed in 2022, though it’s not clear.

What is impacted by Trump’s federal funding freeze?

The situation is changing rapidly, but speaking broadly, the memo’s focus on DEI (diversity, equity and inclusion), foreign aid and other concerns of the new administration provided some hints about what could be paused.

In a news conference Tuesday morning, Senate Minority Leader Chuck Schumer, D-N.Y., said the memo “has shut off billions, perhaps trillions of dollars that directly support states, cities, towns, schools, hospitals, small businesses and most of all, American families.” He went on to add that “funds for things like disaster assistance, local law enforcement, rural hospitals, aid to the elderly, food for people in need — all are on the chopping block in this new administration.”

On Tuesday, the Meals on Wheels nonprofit said it feared that funding could be affected by the freeze. Meals on Wheels is a food assistance program aimed at older Americans.

“The uncertainty right now is creating chaos for local Meals on Wheels providers not knowing whether they should be serving meals today,” Jenny Young, a spokeswoman for Meals on Wheels America, told HuffPost. “Which unfortunately means seniors will panic not knowing where their next meals will come from.”

Democrats also raised alarm later in the afternoon about impacts to Medicaid, a program that provides health insurance for low-income Americans.

Sen. Ron Wyden, D-Ore., wrote on X that “Medicaid portals are down in all 50 states following last night’s federal funding freeze,” referring to the digital systems used by health care providers to manage Medicaid payments. During a press briefing Tuesday afternoon, White House Press Secretary Karoline Leavitt was unable to say how the memo may affect Medicaid.

“The White House is aware of the Medicaid website portal outage. We have confirmed no payments have been affected — they are still being processed and sent,” Leavitt later posted on X. “We expect the portal will be back online shortly.”

What isn’t impacted by Trump’s federal funding freeze?

The initial OMB memo explicitly confirmed that Social Security and Medicare will not be affected by the freeze.

Leavitt added during Tuesday’s briefing that the Supplemental Nutrition Assistance Program (SNAP), aka food stamps, and other welfare benefits will not be impacted.

“This is not a blanket pause on federal assistance and grant programs,” she said. “Assistance that is going directly to individuals will not be impacted by this pause.”

As far as student loans, after some initial confusion, the Department of Education confirmed that federal Pell Grants and direct loans will not be impacted, according to multiple reports.

How long will the funding pause last?

A Q&A document from the OMB noted that it is working with agencies to quickly approve certain programs and said “a pause could be as short as a day.”

Leavitt said during the press briefing that “it is a temporary pause” while the administration is “reviewing the federal funding that has been going out the door.”

More from Money:

Home Prices Are Back on the Rise — Even in ‘Affordable’ Cities

Can Trump Really ‘Demand’ Interest Rates Go Down?

9 States That Still Tax Social Security Benefits

Gold continues to challenge its all-time high set in October 2024, and many analysts believe that the precious metal can reach $3,000 per troy ounce by the end of 2025.

Gold dipped after reaching its all-time high last fall, but it’s widely expected that the yellow metal will set new records next year. So far in 2025, the precious metal is up nearly 35%, and numerous factors — including President Trump pushing for lower interest rates, levying tariffs and contributing to geopolitical uncertainty — could serve as price drivers.

If you are wondering why many analysts feel confident that gold will continue to march higher, understanding the factors that influence gold prices offers clues.

Lower interest rates signal higher gold prices

Several factors determine gold price fluctuations, but few of them carry as much significance as interest rates. These rates dictate the cost of borrowing money and play a major role in inflation, and its direct impact on gold prices.

Higher interest rates can decrease inflation and can even result in deflation if those high rates remain unchecked. The Federal Reserve’s rate hikes in 2022 kept the price of gold flat for the year while tech stocks endured significant losses. However, the Fed has since begun reversing course and has lowered interest rates by a full percentage point since the second half of 2024.

While the Federal Reserve is expected to hold rates steady in January, increasing pressure from Trump may influence the central bank’s policy later in 2025. However, analysts have different opinions about how significant future rate cuts could be, especially with inflation proving stickier than expected and the impact of Trump’s tariffs yet to be seen. However, even if rates remain steady but inflation ticks up, higher inflation historically translates to higher gold prices.

Gold benefits from inflation because fiat currencies — the currency you need to buy gold — lose purchasing power when inflation rises. It’s one reason why groceries and other goods continue to get more expensive. It’s not that groceries offer more value now than they did 20 years ago, but it’s a reflection of how much value fiat currencies have lost relative to essential products and services.

Geopolitical tensions can also prop gold prices higher

Gold traditionally performs well during periods of geopolitical uncertainty. It’s harder to gauge which fiat currencies will be reliable and how much money printing will be necessary during these times. Meanwhile, gold preserves its intrinsic value during these times and becomes more valuable relative to fiat currencies.

Ongoing global conflicts in Europe and the Middle East can drive gold prices higher. Investors look to minimize their risk during uncertain times, and gold caters to this cohort. Investors can look back to the 1970s to see how gold significantly outperformed the stock market during geopolitical and economic uncertainties.

The stock market generated flat returns from 1970 to 1980, although there was a lot of volatility during those years. Meanwhile, gold prices soared, going from $35 per troy ounce in 1971 to $850 per troy ounce in $850. The astonishing 2,329% return crushed the stock market and rewarded investors who chose to mitigate their risk during economic uncertainty.

While gold investors shouldn’t expect those types of returns from now until 2030, this historical example demonstrates gold’s ability to comfortably outpace other assets during uncertainty.

Tariffs can also deliver more gains for gold investors

Presidents have a significant impact on asset prices due to their policies and how they navigate challenges. Trump, for example, is focusing on tariffs, which can increase inflation, and alongside it, the price of gold.

Trump also believes that he can replace income taxes with tariffs, a development that could increase consumer spending. Elevating the cost of goods and services while eliminating income taxes can present two tailwinds for precious metals like gold.

Market enthusiasm can increase the demand for gold

Many analysts believe gold will march higher in 2025 due to macroeconomic factors like lower interest rates and geopolitical uncertainty. However, animal spirits, a term used to describe human emotion driving investment decisions, can also play a role.

As gold rallies, more investors will jump in to capitalize on the momentum alongside heightened bullish sentiment. It will also give current gold investors a positive feedback loop and can lead to them accumulating more gold.

The reverse scenario is also true, as any decline in an asset can cause more investors to rush for the exits. However, gold looks like it is set up for a strong rally heading into 2025, and animal spirits act as an amplifier of market activity.

Higher consumer spending should increase gold prices

According to the U.S. Bureau of Labor Statistics, average consumer spending increased by 5.9% from 2022 to 2023. Higher consumer spending is good news for gold since the precious metal is integral for many industries, with diverse commercial applications.

Gold isn’t just for jewelry and rings. It’s also in your smartphone, computer, automobile and other everyday items. Many industries — like dentistry and aviation — also use gold to perform their services or produce their products. Higher consumer spending typically increases the demand for gold, and as more people purchase it, gold’s supply — which is finite — decreases. Higher demand and lower supply present two additional tailwinds for gold prices.

Investors should also be mindful of how difficult it is to find gold. Research from the World Gold Council indicates that less than 0.1% of prospected sites result in productive mines. It’s also believed that most of the world’s gold is deep within the Earth’s core, making it difficult to replenish.

These factors help explain why investors are feeling optimistic about gold. It’s no wonder the precious metal has been a core component of civilizations for thousands of years, and why analysts believe the precious metal’s current bull market will carry well into 2025.

More from Money:

Best Gold IRA Companies

Best Online Gold Dealers

Beginner’s Guide to Investing in Precious Metals

President Donald Trump had a contentious relationship with the Federal Reserve in his first term, and he didn’t wait long before picking his feud back up after his second inauguration. On Thursday, Trump told an assemblage of banking leaders, policy officials and global leaders that he would force interest rates down.

“I’ll demand that interest rates drop immediately,” Trump reportedly said in a video appearance at the World Economic Forum in Davos, Switzerland.

Can he really do that?

The short answer is no. The president of the U.S. does not set interest rates. Rates are set by a committee of officials at the Federal Reserve. The Fed is an independent entity on purpose — it operates on the understanding that investors and businesses draw confidence from an apolitical central bank.

Without this independence, “monetary policy will be subject to political swings,” says Gregory Daco, chief economist at EY. That’s bad news because a Fed governed by political whims rather than by a longstanding commitment to keeping prices stable and the labor market healthy could steer the economy in the wrong direction, he says.

Daco adds that while it’s understandable that a president would want lower interest rates in order to rev up economic activity, history shows that when rates are too low, the economic outcome can be as damaging as when rates are too high.

“It’s not in the interest of the economy and the well-being of Americans. That can lead to an environment where monetary policy is excessively easy, which actually fuels inflation,” he says.

What can and can’t the president do to interest rates?

In addition to his interest rate “demand” this week at Davos, Trump has also pushed policymakers to lower rates. He spent much of his first term excoriating and threatening to fire Jerome Powell, who he appointed as the chairman of the Federal Reserve Board of Governors in 2018. But he can’t actually do that, either.

The president isn’t allowed to fire a Fed chief without cause — an important safeguard of the central bank’s independence. For his part, Powell has frequently reiterated his commitment to serving out his term as chair, which ends in 2026.

After the election, Trump said he wouldn’t try to remove Powell before the chairman’s term ends, but the recent bellicose tone he has struck on rates has political and economic experts alike wondering if the president will stick to his pledge.

If Trump tries inserting his wishes into policymakers’ data-based deliberations, “it could be unsettling to markets,” according to former Fed official Esther George. George told Yahoo Finance last fall that this sort of political bluster “will require the Fed to stand up to pressures that it may receive, whether they’re simply rhetoric or they are more direct threats.”

What’s the worst that could happen?

Daco notes that while the rate of inflation has slowed considerably, households are still shouldering the burden of prices that have risen by more than 20% since 2019. “One of the two key restraints on economic activity today is the fact that interest rates remain elevated,” he says.

But while ordinary Americans might be weary of seeing their credit card APRs and loan rates continue to climb, crossing your fingers for political intervention could backfire. Lower rates could trigger an acceleration in the rate of inflation, which could prompt the Fed to reverse course and actually raise rates instead.

Both the president and Congress do have the power to indirectly influence rates, however. The extent to which executive orders and legislation impact inflation could prompt a policy response from the Fed.

Many economists agree that the Trump administration’s policy priorities are more likely to lead to higher, not lower, interest rates. In June, 16 Nobel Prize-winning economists signed an open letter that said, “Many Americans are concerned about inflation, which has come down remarkably fast. There is rightly a worry that Donald Trump will reignite this inflation.”

Now that the public knows more details about Trump’s plans and priorities, that outlook hasn’t changed. “The policy mix in general that’s been proposed by the administration will be inflationary,” Daco says.

Trump’s push to implement tariffs and his efforts to halt immigration and deport millions of immigrants currently in the labor force are both inflationary. The brewing fight in Congress over extending or adding to tax cuts could also drive inflation higher, he adds.

Wall Street has almost entirely written off the prospect of a rate cut at the Fed’s next meeting at the end of this month, expecting officials to keep the benchmark fed funds rate at a range of 4.25% to 4.5%. Currently, markets expect just one or two quarter-percentage-point cuts in 2025. And some market observers have suggested that the Fed might not lower rates at all in 2025.

More from Money:

7 Things Getting More Expensive in 2025

3 Smart Moves for Investors After the Fed’s Interest Rate Cut

No Fed Rate Cuts in 2025? Experts Say It Could Happen

The Costco shopping experience is now a global phenomenon, with consumers now able to enjoy the wholesale chain’s bulk-shopping discounts and $1.50 hot dogs across the U.S. and in places like Taiwan, Japan and Australia.

The company continues to shake up that experience, too. Not only does it manufacture many of its own goods under the Kirkland Signature brand, but two years ago, it began selling gold bars. And since the price of the precious metal hit its all-time high in October 2024, demand for the product offering has remained strong among members.

In fact, Costco’s foray into precious metals has generated eye-popping results. The company is allegedly pulling in six figures in sales each month since its decision to begin selling gold, demonstrating that members have taken to buying gold bars alongside rotisserie chickens and bulk toilet paper. In its 2025 first-quarter report, Costco listed gold among its top sales categories. But for investors looking to gain exposure to the yellow metal, is this the best way?

Costco shoppers home in on gold buying

During the summer of 2023, Costco made the move to start selling one-ounce gold bars at its wholesale locations. The rollout has been so successful that in 2024, the company added silver coins and platinum bars to its offerings. But so far, its gold bars have been the clear winner.

In a note to clients, Wells Fargo analysts said they expect revenue from Costco’s gold sales to fall between $100 million and $200 million monthly. The Swiss-made gold bars have repeatedly been selling out since they were first offered. However, this doesn’t mean the venture is profitable for Costco. The store receives a low premium on gold purchases, and it offers cash back to certain buyers who use credit cards, meaning gold sales are not contributing to any significant uptick in profits.

As for investors, now is a good time to own gold. The price of the precious metal reached its all-time high of $2,781 per ounce last October. The principal drivers for gold’s current bull run are twofold. First, the surge in gold prices can be partially attributed to the Federal Reserve’s interest rate policy. Gold historically has an inverse relationship with interest rates, and with the Fed cutting rates throughout the second half of last year, investors saw the precious metal’s price surge.

The second factor that has been propelling gold prices is a combination of weak consumer confidence and lingering inflation. With headline inflation creeping up to 2.9% in December, purchasing power continues to be eroded, which drives investors to seek out safe-haven assets, of which gold is the frontrunner as a liquid store of value.

Is buying gold from Costco a good idea?

Consumers can now hop in their cars and drive to the nearest Costco location to purchase gold. But is it a good idea? It’s a convenient option for those interested in investing in gold long term. But if investors choose to buy the precious metal at the discount warehouse, there are pros and cons they should be aware of. Some incentives Costco offers may up the ante, but you’d be lacking the peace of mind afforded by buying gold in a brokerage account and holding it in a portfolio.

First, Costco gold buyers will have to pay a mark-up on their bars. Known as the spread, the stores charge 2% above the current market rate. This isn’t abnormal, though. Online gold dealers also charge a spread for their non-wholesale transactions. Costco’s premium falls within the industry range making it no worse a deal.

With the bonuses Costco offers on precious metal purchases, in fact, some buyers may effectively eliminate the premium. Those who buy their bars at the store using Citigroup credit cards are eligible for 2% cash back on their purchase. Executive members at Costco can receive an additional 2% cash back.

On the other hand, Costco does not afford its members any opportunities to purchase gold in bulk. When it has the metal in stock, buyers are limited to five bars per transaction. So, if investors are looking to stockpile any significant quantity of the metal, they’ll need to go through a precious metals dealer.

Buying gold at Costco also means experiencing the same pitfalls as those who purchase the physical metal from online dealers. These drawbacks are avoided for investors who purchase gold on paper, though. Once gold is purchased at Costco, the consumer is then responsible for its safekeeping. It’s a scenario not unlike stuffing cash in a mattress, and it carries risk. To avoid that, the gold can be insured and stored in a vault, but these are additional expenses.

Conversely, paper gold investments — like owning shares of a gold ETF, which can be anchored by physical gold held in insured vaults — provide investors with that same peace of mind without having to pay extra for it. These investments are also more liquid than physical gold, meaning they’re easier to buy and sell since they’re listed on exchanges. Some gold ETFs even pay dividends, meaning they can play a role in a strategy aimed at generating passive income while also benefiting from the price strength of the underlying commodity.

All said, buying gold from Costco isn’t any worse than buying it from a dealer if you don’t mind the purchase limit. It could be better than buying from a gold dealer in some instances, since you don’t need to worry about potential scams and salesmanship, and you can earn as much as 4% cash back. However, there are still options to invest in gold that offer greater safety, higher liquidity and less hassle than holding onto the bars yourself.

This story, originally published in April 2024, was updated in January 2025 to reflect current gold prices, inflation rates and Costco’s additional precious metal offerings.

More from Money:

Best Gold IRA Companies

Best Online Gold Dealers

Beginner’s Guide to Investing in Precious Metals

Gold delivered strong gains in 2024, rallying by more than 25% and hitting its all-time high. Those gains build on the strength that the precious metal has enjoyed over the past five years, during which time its price has increased by more than 70%.

Many analysts value gold for its intrinsic value and its applications in various industries. Those same analysts also feel bullish about gold in 2025. While analysts have different price targets in mind, the general consensus is that gold will continue to rally.

Goldman Sachs’ gold price target

Research from Goldman Sachs suggests that gold can exceed $3,000 per troy ounce by the end of 2025. This projection suggests that gold continues its momentum. The analysis mentions central banks accumulating gold as a bullish catalyst for the precious metal.

Federal debt is another gold price catalyst mentioned in Goldman Sachs’ research. At the time of writing, the U.S. has more than $36.383 trillion in debt and a higher portion of that is going exclusively to interest payments. As interest payments take up a higher percentage of debt-related expenses, gold should continue to rally.

Declining interest rates can also incentivize more investors to borrow additional capital. Goldman Sachs’ research points out that gold ETF inflows tend to increase as interest rates fall. Some people may borrow money to increase the size of their holdings, while others may feel inclined to put more money into the asset, seeing a bullish indicator in play.

After President Trump again took office this January, there is less clarity about whether or not the Federal Reserve will continue to cut interest rates. However, if inflation does not rise considerably and remains near the Fed’s 2% target, additional rate cuts could come in 2025.

Deutsche Bank’s gold price target

Deutsche Bank is also bullish on gold. Its price target isn’t as bullish as Goldman Sachs, but the high end of Deutsche Bank’s projected price range for gold suggests a stronger rally. The bank’s current price target is $2,725 per ounce.

However, the bank also suggests a range of possible prices for the asset. Deutsche Bank believes gold won’t get any lower than $2,450 or any higher than $3,050. The high end of the range is more bullish than Goldman Sachs’ price target. A $3,050 target implies that gold can generate a 10.62% return from current levels.

Deutsche Bank also mentioned ramped up central bank activity as a catalyst for gold’s long-term performance. With many nations deep in debt, gold offers insulation from the constant money printing and steady inflation.

JPMorgan’s gold price target

JPMorgan is also bullish on gold, citing policy uncertainty and geopolitical risks as two bullish factors. The investment bank projects that gold will reach $3,000 per troy ounce, which is in line with Goldman Sachs’ price target.

However, that doesn’t mean gold’s price will steadily climb to that price target, in the bank’s opinion. JPMorgan believes gold will experience a short-term downturn due to expected tariffs from the Trump administration. However, the bank expects gold to recover in the second half of the year to reach its price target.

Some gold investors may interpret this as waiting for the dip. Any dips in gold make it easier to accumulate more gold with the same cash. However, it’s also possible that gold continues to rally. A dollar-cost averaging approach can work for investors who are bullish on gold but are nervous about missing the timing on great opportunities. Buying some gold each month ensures you start a position and capitalize on any dips along the way.

How credible are gold price targets?

You should never make an investment based on price targets. The assumptions analysts use can be thrown out of the window with a single piece of breaking news. However, analysts do more research than the average individual. It’s their full-time job to stay well-informed on markets for assets like gold.

While gold is not guaranteed to reach $3,000 per troy ounce in 2025, analysts always highlight the research and catalysts that helped them reach their price targets. These are some of the common catalysts mentioned among bullish gold investors:

• Central banks are buying more gold
• Geopolitical uncertainty persists
• Inflation may go up as a result of tariffs
• Interest rates may continue to go lower

These are some of the reasons that gold could gain value. Analysts essentially do most of the homework for you, but it is still good to stay informed of what is impacting the markets.

Should you buy gold?

Gold has been a vital medium of exchange for thousands of years, dating back to ancient Egypt. It is also a valuable resource for many industries, especially luxury products. Gold has delivered solid long-term gains and is up by more than 70% over the past five years.

One of gold’s key strengths over other assets is that it can perform well during periods of global uncertainty. Stocks and real estate tend to lose value during those same economic cycles. Gold can act as a hedge that shields you from inflation.

Many experts recommend investing no more than 5–10% of your holdings in alternative assets like gold, but each investor is different. Before buying gold, it is important to consider your long-term financial objectives and risk tolerance.

More from Money:

Best Gold IRA Companies

Best Online Gold Dealers

Beginner’s Guide to Investing in Precious Metals

Shopping for a new Hyundai? You can now complete the entire checkout process and arrange financing through Amazon as part of a “beta” launch of the tech giant’s new platform for car buying, Amazon Autos.

Hyundai is running commercials promoting how easy it now is to buy a car just by adding it to your Amazon shopping cart. One even shows a customer picking up a new vehicle from a local dealership the next day.

In another ad, a teenage girl teases her dad at breakfast that his pancakes are “pretty mid.” The narrator remarks that you can buy a Hyundai on Amazon in the time it would take to learn Gen Z slang.

Buying a car the old fashioned way (in person) can be painfully time-consuming. It’s such a process that many dealerships have lounges and snack bars to try to keep shoppers patient as they’re filling out what can feel like an endless amount of paperwork and waiting for their financing to be approved before getting the keys to their new set of wheels.

Amazon’s new car-buying platform caters to shoppers who don’t want to spend half a day or more on the transaction.

“This collaboration allows customers to conveniently discover, learn about and purchase their preferred Hyundai model from their local dealer through one of the world’s most trusted shopping experiences,” José Muñoz, Hyundai’s president and CEO, said in a release. “It represents the future of automotive retail.”

Car-buying moves online

In recent years, the auto industry has seen the rise of pre-ordering, which lets shoppers customize vehicles online to their preferred specifications. The drawback is that you have to wait weeks or even months before you can actually get behind the wheel.

Since many car buyers want to shop online but also want to be able to get into their next vehicle immediately, automakers — and third-party companies like Amazon — are now trying to innovate to meet that demand.

There’s evidence that these efforts are paying off. According to a new Cox Automotive study, new-car buyer satisfaction reached a record high in 2024. The company said the surge can be attributed to “digital tools, pricing transparency and a balance between online and in-person dealership experiences.”

Amazon is marketing its new initiative as the quickest way to buy a car. According to the company, it’s an “end-to-end” purchase experience, meaning you can browse available Hyundai vehicles in your area, get a quote for the value of your trade-in, check out and schedule your pick-up — all without leaving the Amazon platform.

While the ease of buying a car with a couple of clicks has clear appeal, there are some potential trade-offs that you should have on your radar. For one thing, in the current version of Amazon Autos, only select Hyundai dealerships are participating, which means vehicles and trim options are limited. You also can’t shop for other brands, although an Amazon spokesperson told Money the company plans to add more automakers later this year.

Another thing you can’t do on Amazon Autos is haggle. The price you see — which includes taxes and fees — is the price you pay. This means you might end up paying more for the car, since upfront pricing means you can’t use your negotiating skills to score a deal. You can get approved for financing during the checkout process and complete the necessary paperwork on Amazon’s site or app.

Again, while convenient, this is a potential drawback in terms of cost. If you buy a Hyundai on Amazon, your current options for financing are limited. Not being able to use the lender of your choice means you might not get the best rate, although Amazon said leasing and more financing options are coming to Amazon Autos later this year.

More from Money:

Best Cars of 2025

From Carvana to Craigslist: Is Buying a Car Online a Good Idea?

After 4 Straight Months of Price Increases, a New Car Now Costs Nearly $50,000

The American Dream comes with a steep price tag these days.

Inflation is pummeling our gas and grocery budgets. High interest rates are eroding our buying power and high-interest debt is sinking our credit. Our savings accounts are alarmingly low and our mortgage payments are egregiously high — and don’t even get us started on the price of eggs.

Our collective balance sheet feels pretty off-kilter at the moment, and no matter where you stand politically, the transition from one contentious presidency to another only adds to the unease.

Maybe you voted for Donald Trump, hoping his policies will let average Americans loosen their purse strings. Maybe you didn’t, and economic uncertainty is just one of many anxieties clanging around your subconscious. Maybe you checked out one or two election cycles ago and simply want to get through the day.

The point is, regardless of how you feel about our 47th president — terrified, emboldened, apathetic — your wallet is probably feeling the squeeze. And the smartest thing you can do right now is get your money right.

Below, you’ll find a guide to navigating your finances in an era of Trump 2.0, crafted by Money’s expert editorial team. Much of what you’ll read here is rooted in the same guidance we’ve been sharing for over five decades, tweaked for today’s challenges.

Nobody knows what the next four years will bring, but chances are, they’ll be just as bumpy as the last. Build a stronger future for yourself, and the cultures and communities you care about, with this as your roadmap.

— Kristen Bahler

Trim your spending

With a new administration taking office and inflation starting to ease, now is the time to rethink where your money is going.

Time-tested savings advice — make a budget and cut back on nonessentials — still applies. But this year, one strategy stands out: Pay close attention to how and where the products you buy are made.

President-elect Trump has threatened sweeping tariffs on imports, particularly on goods from China. While the exact plans remain unclear, the experts who spoke to Money agree that tariffs will drive up prices for everyday Americans, especially for consumer tech, household goods and apparel. Knowing where your products are made can help you avoid costly increases by choosing alternatives not affected by new tariffs.

This habit of looking closer at your purchases — and questioning whether you need them at all — has another major perk: It’s a first step toward more ethical consumption.

Aligning your spending with your values can give you a sense of power and agency, says Tanja Hester, author of Wallet Activism. “It’s very reasonable as an individual to ask, ‘Okay, but what can I do?’” she says. Aside from political activism, “a big part of what each of us can do really has to do with our financial choices.”

Mindful spending doesn’t have to cost more. Often, it starts with buying less stuff. When you truly need something, whether it’s a home appliance or your next winter fit, consider buying used or choosing local options. These small changes can help you stay on budget and honor what matters most to you.

In 2025, trimming your spending isn’t just about saving money — it’s also about making smarter, more intentional choices that align with your values.

— Adam Hardy

Read more:

• How to Shop More Ethically — Without Breaking the Bank
• 7 Things Getting More Expensive in 2025
• Having This Shopping Habit Means Your Finances Are Probably a Mess

Get a fat raise

Talking about pay can feel taboo, but it shouldn’t.

Communicating with your boss about what you earn — and advocating for what you want to earn — is a crucial part of getting the salary you deserve. The problem? A striking number of employees — nearly 40%, according to a recent survey — have never (as in, ever) asked for a raise.

That needs to change in 2025. The winds may have shifted from the extraordinary leverage workers had a few years ago, but signs still point to a healthy job market: More than 6 in 10 companies plan to hire for new roles in the first half of the year, according to research from Robert Half. And with wages on the rise, companies are still putting more of their budget toward raises than they were pre-pandemic. Put simply: now’s the time to be bold.

“It’s a bit of a new year, new budget[s] post-election,” says Dawn Fay, operational president at Robert Half. Employees should use that to their advantage.

How can you make sure you’re one of the employees taking home a bigger check? “The simplest answer is, do a good job,” Fay says — and take notes.

Get into the habit of regularly jotting down your wins, she says, from exceeding goals and volunteering for new projects to mentoring younger employees. You’ll also want to arm yourself with research about what pay is typical for roles like yours. Then, she says, rehearse what you want to say so you’re calm and confident.

Historically, the surest way to get a big pay bump has been to move jobs. That’s still true in 2025, though the gap has shrunk recently, according to payroll provider ADP. Whether you’re a long-time employee or a new hire, have a plan B if your desired salary isn’t in the budget. That could mean asking for financial perks (like a bonus or childcare reimbursement) or lifestyle improvements (like flexible hours or remote work).

“Most companies are willing to negotiate,” Cortney Holt, senior manager of talent at the career site Glassdoor told Money last year. “But you’ll never know unless you ask.”

— Kaitlin Mulhere

Read more:

• AI Can Help You Write a Better Cover Letter (If You Use It Right)
• Job Hunting? Here’s a Free Resume Template and Tips to Boost Your Search
• These Are the 10 Fastest-Growing Jobs Right Now — and Some May Surprise You

Make the most of an uncertain housing market

If you’ve been patiently waiting for the right moment to buy a house, this year could bring the breakthrough you hoped for.

New jobs, growing families and other life events are driving homeowners to loosen their grip on sought-after housing stock, giving buyers more options (and negotiating power). With mortgage rates expected to decrease slowly throughout the year, homeownership will finally be within reach for buyers who’ve been anxiously waiting on the sidelines.

It won’t be smooth sailing for everyone. Home prices could increase by as much as 4% this year, according to housing experts, and even if mortgage rates dip, they’ll likely remain above 6% for the better part of the year.

There’s also, of course, lots of uncertainty about the impact the Trump administration will have on the housing market, and the U.S. economy as a whole. Some proposals from the campaign trail, like creating tax incentives for builders and scaling back on construction codes and regulations, could further improve the market’s inventory shortage. Other proposals, like tariffs on imported goods and mass deportations, could set the market back even further. Import taxes on lumber, appliances and other building materials could increase the cost of housing. And since roughly 30% of construction laborers in the U.S. are immigrants, progress on much-needed new inventory could be delayed if even a small portion of the labor pool is expelled.

If you plan to buy a home this year, your best bet is to be financially prepared — no matter the economic outlook. Taking steps to improve your credit score, reducing high-interest debt and saving up for a sizable down payment will allow you to take advantage of opportunities when they arise.

– Leslie Cook

Read more:

• 4 Ways to Sell Your Home for More Money in 2025
• Typical Homeowners Are Now Nearly 40 Times Wealthier Than Renters
• Will Home Prices Go Down in 2025? Here’s What Experts Predict

Save for a stress-free retirement

As we enter a new presidential era, many Americans will benefit from provisions passed in the last one. Several parts of the SECURE 2.0 Act, a major retirement savings law signed by Joe Biden in late 2022, are taking effect in 2025.

Account holders between the ages of 60 and 63 snag the biggest perks here: Through a new “super” catch-up 401(k) contribution, they can put away the largest maximum annual contribution ever: a whopping $34,750. But 401(k) auto-enrollment and coverage for part-time employees are expanding, too, and a new federal database recently launched to help people find their lost and forgotten retirement benefits.

These policies build upon a slate of changes that aim to make saving smoother for the 4.1 million Americans expected to retire this year. SECURE 2.0 has enabled employers to match workers’ student loan payments in a 401(k), 403(b) or SIMPLE individual retirement account; loosened restrictions around hardship withdrawals; encouraged companies to create pension-linked emergency savings accounts and more. In December, Congress passed a separate law expanding Social Security benefits for millions of people with pensions. Oh, and did we mention Trump has proposed eliminating taxes on Social Security income?

There’s a lot happening, and it should all motivate you to start preparing for your golden years ASAP. Whether that means consulting a financial planner, joining the record-high number of 401(k) millionaires or making this the year you actually open a Roth IRA, put in the work now. You’ll thank yourself later.

— Julia Glum

Read more:

• It Might Be Time to Ditch These Two Retirement ‘Rules’
• 4 Major Changes That Could Reshape How You Save for Retirement in 2025
• Why the Number of 401(k) Millionaires Just Hit a Record High — Again

Tap into alternative investments

When gauging the incoming administration’s impact on traditional investments, the only certainty is uncertainty. Take, for example, Trump’s expected tariffs. Those would adversely impact consumer prices, most experts agree, but how they would materialize in the stock market is less clear. And while his plans to boost the economy by deregulating the financial sector are bullish, the effect could be stymied if the Federal Reserve shifts its interest rate policy.

In spite of his “drill, baby, drill” mantra, energy stocks are facing a difficult year as the oil and gas industry grapples with record-high production and waning demand. And despite rubbing elbows with Elon Musk, Mark Zuckerberg and other Silicon Valley bigwigs, Trump’s anticipated antitrust agenda could see the breakup of tech monopolies — a sector that’s overdue for a price correction.

Enter alternative assets. Expect gold to continue its historic run as geopolitical instability — perhaps aggravated by a president who’s expressed interest in annexing Canada, Greenland and the Panama Canal — drives up the price of precious metals even further. If inflation begins to tick up, that’s also good news for gold. (Investors can get exposure with the physical metal itself, but also with gold mining stocks and gold ETFs.)

On the crypto front, Trump’s deregulatory platform — including support for bitcoin mining and opposition to the development of central bank digital currencies — has been a catalyst for the alternative asset class. Last month, the price of bitcoin crossed $100,000 for the first time, and the cryptocurrency is up around 40% since Election Day. Investors who are more comfortable with equity markets can gain exposure through spot bitcoin ETFs like the iShares Bitcoin Trust ETF (IBIT) or the VanEck Bitcoin ETF (HODL), both of which are up over 101% in the past year and likely to continue rallying under Trump.

Financial advisors recommend allocating no more than 5–10% of your overall portfolio to alternative investments like gold and crypto. But for now, there’s more clarity on those two asset classes’ projected near- and medium-term performances than there is for any of the stock market’s 11 sectors. With the unpredictability of Trump’s policies, the performance of traditional asset classes have a more cloudy future, and as a result, alts may be able to post outsized gains.

— Jordan Chussler

Read more:

• Is 2025 the Year of ‘Sector Investing?’
• 4 Stock Market Predictions for 2025
• Why Investors Are Pouring Money into Bitcoin ETFs Right Now

Protect your assets

Desperation over rising rates is driving more people to skip insuring the biggest assets they own. But this is one trend you shouldn’t join in 2025, no matter your financial situation.

Double-digit growth in home insurance premiums has driven down the number of uninsured homes in the U.S. – to more than 6 million, according to the Consumer Federation of America, which represents more than 7% of all homes. Car insurance has also risen in cost — over the last few years, experts say, the average payment has gone up by about 25%. In some states, premiums are up by more than 50%.

Resist all temptation to join either uninsured group, even if rates rise further, as some analysts predict. A home that lacks insurance exposes its owners to everything from forced-place insurance by their mortgage lender to liability lawsuits, foreclosure and homelessness. Driving without insurance also comes with financial peril, including the risk of fines and a suspended license if you’re caught “driving naked” – industry lingo for taking the wheel without insurance.

Instead of eliminating vital coverage, take steps to reduce its cost. Weigh the financial loss you could bear in the event of losing your wheels or your home, and adjust your deductible to that amount, thus reducing your premiums. Then, shop around for coverage — prices vary significantly between carriers — and consider bundling your home and auto insurance for a discount.

— Paul Reynolds

Read more:

• Americans With Bad Credit Pay 35% More for Home Insurance
• How Your Driving Behavior Could Be Affecting Your Car Insurance Premiums — Without You Realizing It.
• Why California’s Wildfires Could Make Your Home Insurance Pricier — Even if You Don’t Live There

Polish your paper trail

There’s no reason for you not to know exactly what’s in your credit history: You can pull one free credit report from each of the three major credit bureaus weekly using AnnualCreditReport.com. And because those reports are used to generate your credit scores, which lenders rely upon to determine your worthiness as a borrower, it’s crucial to monitor them.

Don’t like what you see? Make improving your credit a 2025 pet project. After you’ve checked your credit report for errors and addressed any inaccuracies, try reducing your utilization ratio, downgrading a little-used card or becoming an authorized user on someone else’s account. Take the time to understand what your annual fees go toward and re-evaluate whether your current cache of cards makes sense for your life.

You’re not alone — although income growth has helped lessen the sting for many borrowers, the U.S. is pretty firmly in a debt crisis — and you’re certainly not powerless, especially when it comes to arming yourself with information. In 2025, this means keeping an eye on the news coming out of Congress, which is gearing up for a battle over expiring Tax Cuts and Jobs Act provisions that could impact your wallet for years to come. Might we suggest subscribing to Money’s daily newsletter for the latest on this and other key issues? Just an idea.

— Julia Glum

Read more:

• Congress Is Gearing Up for a Fight Over Trump’s Tax Cuts
• Have Medical Debt? Your Credit Score Could Increase Under New Policy
• 3 Signs That America’s Debt Crisis Is Growing