In 2025, the Federal Reserve has started lowering interest rates to help support the economy as inflation slows down. After leaving rates steady for months, the Fed cut rates in September and may lower them again in the coming months. This matters for savers because when the Fed lowers rates, banks usually follow by offering lower returns on savings products like certificates of deposit (CDs). Right now, CD rates are still relatively high—some offer up to 4.35% annual percentage yield (APY). That means if you’re looking to grow your savings safely, this could be a smart time to lock in a good CD rate before they drop further.

Frugality is becoming popular again, especially among younger people who want to make smarter choices with their money. Instead of spending just to keep up with trends, many are turning to thrift stores, estate sales, and DIY lifestyles that focus on saving and reusing. Social media is also playing a big role, with influencers sharing tips on how to live well without overspending. Experts say this new frugal mindset isn't about being cheap—it's about being thoughtful with money, choosing quality over quantity, and focusing on long-term goals. This shift shows a growing desire for financial stability and a simpler, more meaningful way of living.

In a recent statement, personal finance expert Suze Orman warned that $2 million may no longer be enough for a comfortable retirement in 2025. She argues that due to rising inflation, increased healthcare costs, and people living longer, retirees need more savings than ever before. While a 2024 study by Northwestern Mutual found most Americans think $1.46 million is enough, Orman believes that number falls short of what’s truly needed. Her message comes at a time when many are already struggling with higher prices and uncertain economic conditions. Orman’s advice challenges people to rethink how much they need to save for the future.