As the cost of living in the US continues to rise sharply in 2025, managing Personal finances has never been more critical. From groceries to healthcare, everyday expenses are straining budgets, making saving money an essential skill for every American. On top of that, student loan repayment changes, including the resumption of collections and evolving forgiveness programs, are impacting millions. This guide will help you understand these student loan shifts and offer practical, actionable tips to save money across your daily life.
Student Loan Forgiveness and Repayment Changes in 2025
On May 5, 2025, collections restarted on defaulted student loans affecting over 5 million borrowers, with wage garnishments, tax refund seizures, and Social Security offsets resuming. Forgiveness processing under income-driven repayment plans is temporarily paused but is expected to resume with retroactive credit. Borrowers are advised to switch plans in a timely manner, prepare for stricter borrowing limits coming mid-2026, and work closely with loan servicers to manage defaults. Additionally, beware of potential tax changes on forgiven loans post-2025 and pending scrutiny on Public Service Loan Forgiveness (PSLF) eligibility, particularly related to nonprofit hospitals amid ongoing tax reform talks.
10 Practical Tips to Save Money in Daily Life in 2025
1. Grocery Shopping: Buy Generic and Use Cashback Apps
Switching to store-brand groceries can save you up to 30% per item compared to branded goods. Use cashback apps like Ibotta and Rakuten for additional savings on everyday purchases.
2. Utilities: Lower Your Energy Bills With Smart Thermostats
Smart thermostats can reduce heating and cooling bills by about 10-12%, a significant saving in the rising energy cost environment.
3. Transportation: Use Public Transit or Carpool
Public transit saves the average commuter $10,000 annually compared to owning and maintaining a vehicle. Carpooling apps like Waze Carpool amplify these savings and reduce carbon footprint.
4. Healthcare: Utilize Telehealth Services
Telehealth visits cost on average 30-50% less than in-person appointments, making healthcare more affordable and accessible.
5. Online Shopping: Wait for Major Sale Days
Major sales events like Black Friday and Cyber Monday, alongside Amazon Prime Day, can offer up to 50% off. Use price tracking tools such as Honey to ensure you pay the lowest price.
6. Entertainment: Explore Free or Low-Cost Activities
Public parks, free museum days, and community events offer quality entertainment without breaking the bank.
7. Manage Student Loans Proactively
Understand the new forgiveness and repayment landscape in 2025. Switching to income-driven repayment plans can lower monthly payments, and staying ahead on deadlines prevents default collection actions.
8. Meal Planning: Reduce Food Waste and Save
Planning your weekly meals and cooking at home saves roughly $40-$50 per week compared to eating out.
9. Use Subscription Services Wisely
Audit your subscriptions monthly and cancel those you don’t use. On average, Americans save $237 annually by cutting unnecessary subscriptions.
10. DIY and Home Maintenance
Performing simple home repairs and maintenance yourself can save hundreds in labor fees annually.
Conclusion: Share Your Money-Saving Tips!
Saving money in 2025 takes awareness, discipline, and smart choices—especially with student loan repayment changes affecting many Americans. We hope these tips help you keep more money in your pocket. What are your favorite ways to save? Share your tips in the comments below and help others thrive financially in this challenging economy.