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The chance of a recession hitting the U.S. economy in 2025 has gone down — but only slightly.
JP Morgan scaled back its recession forecast from 60% to 40% at the end of May.
So if you’re thinking of tightening your wallet — and looking for ways to stretch every dollar — here are 10 money moves you can make to make sure you’re in great financial shape during this uncertain time.
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1. Stop wasting money on overpriced car insurance
Car insurance is likely taking a big chunk out of your monthly budget, but it could be keeping you safe for less. Insurance companies tend to pile on confusing add-ons and lingo, which leads you to pay more than necessary.
OfficialCarInsurance.com lets you compare quotes from trusted brands, such as Progressive, Allstate and GEICO to make sure you’re getting the best deal.
You can switch to a more affordable auto insurance option in two minutes by providing some information about yourself and your vehicle then choosing from their tailor-made results.
Find offers as low as $29 a month.
2. Invest in real estate
New investing platforms are making it easier than ever to tap into the real estate market.
For accredited investors, Homeshares gives access to the $34.9 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.
With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.
With risk-adjusted target returns ranging from 14% to 17%, this approach can provide an effective, hands-off way to invest in owner-occupied residential properties across regional markets.
3. Diversify your retirement portfolio with a gold IRA
Gold has long been touted as a safe-haven asset — and it can go a long way toward building your retirement portfolio. The precious yellow metal offers more stable returns than stocks, especially during market volatility and recession.
In 2024, gold outperformed the S&P 500 in 2024, posting a 27% gain versus the index’s 25% return, and this year has seen its price rise to over $4,000 per ounce.
Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.
If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping, and free storage for up to five years. Qualifying purchases will also receive up to $10,000 in free silver.
To learn more about how Priority Gold can help you reduce inflation’s impact on your nest egg, download their free 2025 gold investor bundle.
Read more: Warren Buffett used 8 simple money rules to turn $9,800 into a stunning $150B — start using them today to get rich (and then stay rich)
4. Automatically invest your spare change
You don’t need a large sum to start investing for your future. Ten dollars a week could make a difference – if you’re smart about what to do with your spare change.
When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess — the coins that would wind up in your pocket if you were paying cash — into a savings account or a smart investment portfolio.
Let’s say you purchase a doughnut for $2.30. Before you’re done licking the sugar off your fingers, Acorns will round the amount to $3.00 and invest the 70-cent difference for you. Look at this math: $2.50 worth of daily round-ups add up to $900 per year — and that’s before your savings earn money in the market.
Plus, if you sign up now, you can get a $20 bonus investment when you set up a recurring deposit.
5. Earn passive income
Owning real estate has traditionally been the path to earning steady rental income, but it can be expensive and time-consuming to manage properties.
But Arrived is lowering the barrier to entry for rental property investing, making it simpler and more cost effective.
Backed by world class investors like Jeff Bezos, Arrived is an online platform where you can invest in shares of rental homes and vacation rentals without taking on the responsibilities of property management — for as little as $100.
In other words, you won’t be in charge of fixing freezers or managing noise complaints, but still get to generate potential regular income and diversify your portfolio.
6. Make your cash work harder for you
If you have a lot of cash sitting in your checking account, consider moving it to a high-yield savings account so you can get more bang for your buck.
You can easily compare multiple online banks offering high-yield savings accounts with 4% or more in annual interest in a matter of minutes. Many options now offer $0 monthly fees and don’t require a minimum balance to earn their high APY.
For example, you can open a high-yield checking and savings account with SoFi and earn up to 4.30% APY Plus, SoFi charges no account, monthly or overdraft fees.
The best part? You can get up to $300 when you sign up with SoFi and set up a direct deposit.
7. Shore up your cash reserve
Certificates of Deposit (CDs) offer a low-risk way to grow your savings, often with higher returns than high-yield accounts — in exchange for locking in your money at a fixed rate for a set term.
CDs are ideal for those who don’t need immediate access to their funds. Just keep in mind that rates fluctuate regularly.
8. Find a more affordable life insurance policy
Global life insurance premiums are set to increase at an annual rate of 3% in 2025 and 2026, according to a report by Swiss Re Institute.
If you have life insurance in place – especially a term policy – it may be worth comparison-shopping to find a more affordable option. You can typically cancel a term life policy without incurring any penalties.
With Ethos, you can get term life insurance in 5 minutes, with no medical exams or blood tests.
You can get a policy with up to $2 million in coverage, starting at just $2/day.
Ethos’ application process ensures you get flexible coverage options quickly and transparently, allowing you to focus on what matters most.
9. Maximize your home equity
With home values higher than ever, you can make your home work harder for you by making the most of your equity. The average U.S. homeowner now holds more than $319,000 in home equity, contributing to a nationwide total exceeding $34.7 trillion, according to Newsweek.
With a home equity loan, you can fund major expenses — home renovations, paying off substantial debt or even funding investments for your retirement nest egg. Rates on a home equity loan are typically lower than APRs on credit cards and personal loans, making it an appealing option for homeowners with substantial equity.
Unlock the lowest possible rates in minutes by shopping around. You can compare real loan rates offered by different lenders side-by-side through LendingTree.
Just answer a few simple questions, and LendingTree will match you with up to 5 lenders with the best possible rates today.
10. Grow your wealth with help from a trusted advisor
Finding a financial advisor that suits your specific needs and financial goals is simple with Advisor.com.
Advisor.com can quickly match you with an advisor who can guide you through your options. The platform’s advisors are fiduciaries, meaning they are legally obligated to act in your best interest.
Just answer a few questions about your investment timeline and your goals, and Advisor.com will match you with a reputable financial advisor.
Book a free, no-obligation call today to see if they’re the right fit for your needs.
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- ¹Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund’s prospectus. Read them carefully before investing. This marketing was vetted by the Moneywise team and sponsored by the Fundrise Flagship Fund.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.