7 Ways To Adjust Your Spending To Bolster Your Retirement Savings in 2025
Written by
Crystal Mayer
Edited by
Molly Sullivan
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With the final quarter of the year rapidly approaching, your mind may be wandering to the new year. If one of your resolutions is to save more for retirement, there are a number of things you can do to improve your financial position.
From taking on a no-spend challenge to avoiding impulse shopping, you can save over a thousand dollars over the course of a year.
Here are seven ways to adjust your spending to bolster your retirement savings in 2025.
Consider a No-Spend Challenge
If you want to save big over the course of 2025, you should consider a no-spend challenge. Whether you do it for a few weeks during the year or for an entire month, you might be surprised by how much money you can save.
When the challenge is over, take the money you would have spent and put it towards your retirement. You can work with a financial advisor or tax professional to determine the best type of account to open based on your income level.
Implement Envelope Savings
The 100-envelope challenge has made its way around the internet for the past couple of years. The viral trend can save you over $5,000 by the end of the 100 days.
Start by labeling envelopes one through 100. Each day select an envelope and use the number to determine the amount of money you should place inside of it. For instance, if you pull envelope number 15, you should place $15 in it.
Some people choose to fill the envelopes in order while others randomize their selection. Either way, once the challenge is completed, you should have a total of $5,050 saved to put toward your retirement.
Others choose to extend the envelope challenge over a longer period of time since it isn’t always feasible to put large chunks of money away. You can modify the amounts or the time it takes to complete.
Wait To Buy
Another way to save money for retirement in 2025 is to avoid impulse shopping. Apps like Amazon have made it all too easy to add everything you need — and some of what you don’t to your cart — and have it shipped within two days.
While instant gratification is achieved, many online shoppers feel short-lived glee before the remorse sets in. To curb this bad habit, let the item sit in your cart for at least 48 hours before hitting “place order.”
This two-day wait period can help ensure you are buying more of what you need and less of what you don’t.
Round Up Your Change
If you are old school and like to pay with cash, you can start saving your change. Every lit bit helps, and you might be surprised how much you accumulate over the course of a year.
You can also automate the process by rounding up the change on purchases to transfer to your savings account.
Cancel Unused Subscriptions
Few people realize just how many unused services and subscriptions they pay for each month.
Do an inventory of your expenses and cancel any subscriptions that you do not actively use. Nix that gym membership or the streaming service and you could end up saving hundreds of dollars each month.
Think Generic
People hoping to put more towards retirement in 2025 may also want to start thinking generic. Instead of buying the name brand of every product, search for a comparable store brand.
Just switching to generic can save you hundreds of dollars per year. Many stores offer highly-rated private labels such as Costco’s Kirkland Signature and Target’s Cat and Jack.
Pick from Your Pantry
Finally, look for ways to save around your house. When was the last time you looked through your pantry?
You may have a goldmine of pasta, soups and other staples that you can use to curate amazing homemade meals and treats. Instead of eating out or continuing to buy more food, do a deep dive into your food stash.
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