GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Its already almost 2025.
Make this the year that youmake the most of your savings.
Automate Your Savings
Set up a pay yourself first system if you havent already.
A portion of each paycheck should automatically go to your savings accounts.
This way you dont even have to get into the habit of contributing to your savings.
Youll get the most benefit out of compounding interest and the tax advantages when you hit retirement age.
In 2025, the contribution limit for 401(k) plans has gone up to $23,500.
So youll be able to invest even more.
And if your employer matches contributions, even better.
Youll want to take full advantage of any free money they offer.
You could save thousands in interest and get debt-free faster.
Put Your Cash in High-Yield Accounts
Shop around for good a high-yield savings account or money market.
Every bank is different, and they all offer different perks and rates.
Some give you better rates for larger deposits.
Others have great sign-up bonuses.
So dont put all your savings in one place.
Open two to three accounts atdifferent online banks.
The interest rate changes every six months to match inflation.
This makes them perfect for protecting your savings from losing value.
You dont need to watch the markets or make any decisions once you buy them.
Just let them do their thing.
you could buy them through TreasuryDirect.gov.
A CD ladder is a strategy that gives you some access to your money over time.
Heres how it works: You split your savings into equal portions.
Then you put each portion into CDs withdifferent maturity dates.
Different banks offer very different CD rates, so be sure to shop around.
But you dont have to deal with all the hassles of property ownership yourself.
Both options are an easy way to get exposure to thereal estate market.
REITs are publicly traded companies that own and operate rental properties.
Crowdfunding lets you go in on specific properties with other investors.
You earn your share of the income when the property gets sold.
More From GOBankingRates
Share This Article:
