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Household appliances imported into the country that contain steel components — such as washing machines, refrigerators, and ovens — will face President Trump’s increased tariffs beginning June 23, as reported by the Department of Commerce.
This represents one of the initial instances where the administration has focused on common household items, potentially leading to increased costs for the typical American family.
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The government raised the duties on imported steel and aluminum to 50% from 25% as of June 4. This follows a standard 10% tax on goods from most nations, plus an additional 25% charge on vehicles and auto components made overseas.
Several people worry that expenses will keep increasing. Specialists indicate that, even if Trump takes no additional steps, the costs of specific goods and services are projected to increase substantially this year.
Here are five to keep an eye on.
1. Homeowners insurance
U.S. home insurance providers have raised their rates by more than 10% in the last two years. In 2024, costs went up by 10.4%, after a 12.7% increase the year before, as reported by S&P Global Market Intelligence. If you’re concerned about paying for your coverage, it’s wise to compare prices when your policy is due for renewal.
OfficialHomeInsurance.comEliminates the stress of purchasing home insurance. In just under 2 minutes, you can discover affordable rates from leading insurance companies, all in one location. OfficialHomeInsurance simplifies the process of finding the coverage you require at a cost that matches your budget.
The side-by-side comparison is assisting homeownerssave approximately $482 on averageon their residential insurance policies.
Home insurance fees are not the only expenses homeowners face. If you have a vehicle, there is an additional expense to consider.
Auto insurance premiums increased by an average of 16.5% in 2024, as reported by ValuePenguin. Comparing options and combining your auto and home insurance policies may result in significant cost reductions.
OfficialCarInsurance.comallows you to compare quotes from reliable companies, such as Progressive, Allstate, and GEICO, to ensure you are receiving the most favorable offer. The matching system considers your location, vehicle information, and driving record to locate the best options for you.the lowest rate possible.
You can find offers beginning at only $29 each monthand change your policy in just a few minutes.
If you have a pet, think about obtaining pet insurance to prevent high veterinary costs. Only 2% of pets in the U.S. are insured, and pet owners usually pay around $186 on average for a regular vet visit, with emergency visits ranging from $374 to $1,285.
BestMoneyallows you to compare pet insurance plans provided by well-known companies such as Spot Pet Insurance, ASPCA, Pet Best, and others.
You can compare the coverage benefits, deductibles (if any), geographic coverage and ratings — all available in their online marketplace.
Look for deals beginning at only$10 per month.
Learn more: Are you looking to gain an additional $1,300,000 upon retirement? Dave Ramsey suggeststhis 7-step strategy ‘proves effective every time’ to eliminate debt, achieve wealth in the United States— and that ‘anyone’ is capable of doing it
2. Eggs
Eggs are a common item found in many households’ refrigerators. However, in 2025, the cost of eggs is projected to increase mainly because of an outbreak of avian flu, along with the impact of Trump’s tariffs.
The effects are already noticeable. Although expenses can differ based on where you live, the consumer price index indicated that the cost of a dozen large eggs hit $4.95 across the country in January, an increase from $4.15 in December. A year prior, the typical price was just $2.52 per dozen.
If your family frequently uses eggs, purchasing them in large quantities might be an effective way to reduce costs. As an alternative, look into nearby farms to see if they provide fresh eggs at a more affordable rate than your local grocery store.
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3. Coffee
If you rely on your morning caffeine fix, here’s some unfavorable news: The cost of coffee increased by over 80% in 2024, as reported by The Wall Street Journal, breaking a record that was previously held in 1977. Additionally, worries about a poor 2025 harvest in Brazil, along with Trump’s potential tariffs on Mexico, may lead to a similar trend in prices this year.
A 2024 study conducted by Drive Research revealed that 73% of Americans consume coffee daily, while 51% buy coffee from outside the home at least once per week.
Small indulgences such as coffee shop treats can be justified if they enhance your happiness — however, to maintain them within your financial plan, you should seek methods to maximize your money’s potential, allowing you to increase your savings.
You can easily compare several online banks that provide high-interest savings accountsEarning 4% or higher annual interest in just a few minutes. Numerous choices currently provide $0 monthly charges and do not necessitate a minimum balance to achieve their competitive APY.
For instance, you might establish a high-yield checking and savings account through SoFi andearn as much as 3.80% annual percentage yieldAdditionally, SoFi does not impose any account, monthly, or overdraft charges.
The most impressive aspect? You canget up to $300when you register with SoFi and establish a direct deposit.
4. Streaming services
The expense of streaming platforms is rising in 2025. YouTube TV increased its monthly fee to $82.99 from $72.99 in January. Netflix also implemented price hikes across all subscription tiers around the same time.
Many financial advisors suggest conducting an annual review of your content to ensure you aren’t paying for services you rarely access. A report from Bango indicates that one-third of Americans subscribe to services they don’t utilize. Another effective and sustainable method to save money is by monitoring your spending habits.
However, managing finances can be difficult, particularly when attempting to monitor several accounts and daily costs at the same time. Monarch Money’sexpense tracking system simplifies the process.
The service effortlessly links all your accounts in a single location, providing you with a clear understanding of where you’re spending too much. It also assists youtrack your costs and transactions instantly.
Whether you’re aiming to save, invest, or just manage your expenses better, Monarch Money provides the resources to support your financial goals. For a short period, you can enjoy 50% off your first year using the codeNEWYEAR2025.
5. Travel
Travel is considered a privilege that many individuals choose to value. However, by 2025, it could become more expensive to take a break.
American Express Global Business Travel expects that fares on most routes connecting U.S. airports will rise slightly, with domestic flights experiencing the largest increases.
Several of the United States’ premier travel spots are also implementing extra charges, as an increasing number of countries will require Electronic Travel Authorizations in 2025. These are permits that travelers need to pay for in order to enter nations that don’t require a visa, and they are tied to your passport.
To reduce travel costs, consider scheduling your trip during a less busy period, which can vary depending on where you’re going. According to the travel booking platform Kayak, February was the most affordable month for travel in 2024.
You can also save money by using a credit card that provides the highest travel rewards and cashback. However, the challenge lies in finding the right credit card, which can be overwhelming.
At CardRatings.com, the procedure is fast, simple, and tailored to your needs. Whether you’re seeking cash back, travel points, a low interest rate, or no annual charges, their CardFinder featureconnects you with the top deals from top providers.
The procedure is straightforward: Initially, provide some information regarding your preferences and credit history. Then, a soft credit inquiry is conducted, which has no impact on your credit rating. Ultimately, you canquickly review and select from a handpicked list of cards, including summaries of rewards, charges, and advantages.
CardRatings.com will assist you in finding the ideal matchand suggest a travel rewards card that offers the greatest savings and perks — customized for your needs.
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This piece offers information exclusively and should not be interpreted as guidance. It is made available without any form of assurance.
