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Since being sworn into office, President Trump has implemented significant changes and imposed tariffs on goods imported into the U.S. from other countries.
Trump has made tariffs a central pillar of his "America First" agenda, aiming to protect U.S. jobs and reduce trade deficits.
He has already imposed tariffs on its major trading partners and plans to double tariffs on Canadian steel and aluminum to 50%. The tariffs sparked a stock market sell-off that wiped out $4 trillion from the S&P 500, according to Reuters.
Many fear costs will continue to rise. Experts say that, regardless of any further actions from Trump, the prices of certain products and services are expected to rise significantly this year.
Here are five you should watch out for.
1. Homeowners insurance
U.S. homeowners’ insurers have hiked premium rates by double digits over the past two years. Premiums increased by 10.4% in 2024, following a rise of 12.7% in the previous year, according to S&P Global Market Intelligence.
If you’re worried about affording your insurance policy, it’s a good idea to shop around for rates when your plan is set to renew.
OfficialHomeInsurance.com takes the hassle out of shopping for home insurance. In just under 2 minutes, you can explore competitive rates from top insurance providers, all in one place. OfficialHomeInsurance makes it easy to find the coverage you need at a price that fits your budget.
The side-by-side comparison is helping homeowners save an average of $482 on their home insurance policies.
Home insurance premiums aren’t the only thing coming out of homeowners’ pockets. If you own a car, you have another cost to deal with.
Car insurance rates rose an average of 16.5% in 2024 according to ValuePenguin. Shopping around and bundling your auto and homeowners’ insurance can lead to substantial savings.
OfficialCarInsurance.com lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you’re getting the best deal. The matching system takes into account your location, vehicle details, and driving history to find you the lowest rate possible. You can find deals starting at just $29 per month and switch over your policy in just a few minutes.
And if you have a furry friend, consider getting pet insurance to avoid expensive vet bills. With only 2% of pets insured across the U.S., pet owners typically spend up to $186 on average for a routine veterinary checkup, and anywhere between $374 and $1,285 for an emergency visit.
BestMoney lets you compare pet insurance policies offered by reputed providers like Spot Pet Insurance, ASPCA, Pet Best and more. You can compare the coverage benefits, deductibles (if any), geographical availability and reviews — all in their online marketplace.
Find offers starting at just $10 per month.
2. Streaming services
The cost of streaming services is increasing in 2025. YouTube TV raised its monthly rate to $82.99 from $72.99 in January. Netflix also followed suit by announcing price increases across all plans at the same time.
Most budgeting experts recommend an annual content audit to make sure you’re not paying for platforms you rarely use. According to a study by Bango, one-third of Americans pay for a subscription they don’t use.
Another practical and long-lasting way to save is by keeping track of where your money is going.
However, budgeting can be challenging, especially when trying to track multiple accounts and daily expenses simultaneously. Monarch Money’s expense tracking system simplifies the process.
The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending. It also helps you monitor your expenses and payments in real-time.
Whether you’re looking to save, invest, or simply control your spending, Monarch Money offers the tools to help you succeed. For a limited time, you can get 50% off your first year with the code NEWYEAR2025.
3. Travel
Travel is a luxury that a lot of people are willing to prioritize. But in 2025, it might cost you more to get away.
American Express Global Business Travel predicts prices on most routes involving U.S. airports will increase modestly, with domestic flights facing the biggest hikes.
Some of America’s top travel destinations are also introducing additional fees, as more countries in 2025 will require Electronic Travel Authorizations. These are permits travelers must pay for to enter visa-free countries, and they are linked to your passport.
To save on travel, aim to book your vacation at an off-peak time, which may depend on your destination. Travel booking site Kayak found that the cheapest month to travel in 2024 was February.
You can also save money by using the credit card that offers the most travel rewards and cash back. The challenge, however, is that searching for the right credit card can be overwhelming.
With CardRatings.com, the process is quick, easy and personalized. Whether you’re looking for cash back, travel rewards, a low APR or zero annual fees, their CardFinder tool matches you with the best offers from top providers.
The process is simple: First, share a few details about your preferences and credit profile. Next, a soft credit check is performed, which won’t affect your credit score. Finally, you can instantly compare and choose from a curated list of cards, complete with overviews of rewards, fees, and benefits.
CardRatings.com will help you find the perfect match and recommend a travel reward card that maximizes savings and benefits — all tailored to you.
4. Eggs
Eggs are a staple item in many people’s fridges. But in 2025, egg prices are expected to rise due largely to a wave of avian flu, plus the effects of Trump’s tariffs.
The impact is already being felt. While costs may vary depending on your location, the consumer price index reported that the price of a dozen large eggs reached $4.95 nationwide in January, up from $4.15 in December. Just a year ago, the average price was only $2.52 per dozen.
If your household uses eggs regularly, buying in bulk could be a potential way to save. Alternatively, check out local farms to see if they offer fresh eggs at a lower price compared to your nearby supermarket.
But here’s an even more creative way to save while spending: Make the most of your everyday shopping by automatically investing your spare change with Acorns.
The app automatically rounds up your everyday purchases to the nearest dollar and invests the difference into a diversified portfolio. This means that every transaction — from your morning coffee to grocery shopping and travel — contributes to building your savings.
For example, when you spend $5.40 on eggs, Acorns will automatically invest the 60-cent difference. These small amounts add up over time, ensuring you have enough savings for what may lie ahead with Trump’s tariffs.
5. Coffee
If you’re someone who can’t function without your morning dose of caffeine, here’s some bad news: The price of coffee rose more than 80% in 2024, according to The Wall Street Journal, surpassing a record set in 1977. And with concerns brewing about a weak 2025 harvest in Brazil, plus Trump’s tariff threats to Mexico, prices could easily follow a similar pattern this year.
A 2024 survey by Drive Research found that 73% of Americans drink coffee every day, and 51% purchase coffee outside the home at least once a week.
Little luxuries like café treats are often worth their extra cost if they boost your mood — but to keep them in your budget, you should look for ways to make your money work harder for you, so you can grow your nest egg. Consider opening a [high-yield savings account], where you can earn more on your savings while you enjoy your coffee treat.
With a Wealthfront high-yield, no-fee cash account, you can earn 4% APY on your cash. That is 10x higher than the national average of 0.42% APY offered by traditional savings accounts.
The account has no annual or maintenance fees and is insured by the Federal Deposit Insurance Corporation (FDIC) for balances up to $8 million. Plus, you can get started with as little as $1.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
