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How to save money in 2025: 50 tips to grow your wealth
investing ideas :: 2025-01-08 :: source - yahoo finance
By Ivana Pino
Yahoo personal finance / Getty Images
Saving money takes time and discipline — and it can be a challenge if you face competing financial obligations or unexpected costs. Your ability to save can also be impacted by external factors, including the rising cost of living and high interest rates on debt.
As of November 2024, the personal saving rate was 4.4%, down from 4.6% the previous year. With many Americans continuing to bear the brunt of inflation and higher costs in a post-pandemic economy, saving money could prove to be more challenging than it was just a few years ago. However, there are ways to reevaluate your current spending habits and cut costs to designate more toward your savings account.
Read more: 50 tips to grow your wealth
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