7 Ways To Keep More of Your Money in Trump’s ‘Big Beautiful’ Economy

The passage of President Donald Trump’s One Big Beautiful Bill Act (OBBBA) may have promised a booming economy, but everyday costs tell a more complicated story. With recently expanded tariffs on imports from Canada and China, some tax credits sunsetting and inflation on the creep, everything is more expensive.

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Chad D. Cummings, Esq., a financial planning and tax attorney, CPA and owner of Cummings & Cummings Law, cautioned that, “Tariffs and taxes must be part of the same conversation, as they are different sides of the same coin.”

He pointed out that these policy shifts and others from the bill could raise the average family’s annual spending by more than $2,000 without any matching wage growth. To respond to these cost pressures, here are seven ways to hold onto more of your money.

1. Fix Your Tax Withholding Now

A common problem that many taxpayers make is overwithholding on their employment income. While this results in a tax refund, it also gives the government an interest-free loan, in essence, Cummings said. He recommended you adjust withholdings now through your employer’s payroll provider, which could net you several hundred dollars more in take-home pay per month.

“It would be better to have less taxes taken out all year and redirect some of that money into a pretax retirement plan to keep more money in your own pocket,” added Joel Steele, co-founder, owner and financial advisor of Steele Financial Solutions.

The power of investing over a long period of time is way more powerful than an end-of-year refund.

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2. Take Advantage of 2025 Tax Breaks

Be sure to take advantage of any tax breaks that the bill introduced or is phasing out. For example,Cummings suggested that high earners maximize the 20% qualified business income (QBI) deduction before it potentially expires. And owners of pass-through businesses, including freelancers and side hustles, should consider “accelerating income in 2025,” he urged.

The OBBBA increased the state and local tax (SALT) deduction to $40,000, Steele explained, a big one to claim. “You can also make charitable contributions of cash or stuff up to $1,000 per person as an above the line deduction,” Steele said. This means you don’t have to itemize to get credit for it.

3. Automate Your Savings

This is the time to make savings second nature. “Forced savings is the best and easiest way to carve out some of your income right off the top,” Steele said.

Automatic deposits into 401(k) plans or similar builds wealth steadily and offers tax advantages. “You can get a tax deduction if [it’s] funded pretax and you’re dollar cost averaging,” Steele said.

This means you’re saving a set dollar amount every pay period. If the market is up, you buy fewer shares. If it’s down, you buy more.

4. Rethink Your Investments

It’s also a good time to review where your money’s going. Cummings noted that domestic manufacturing and semiconductor exchange traded funds (ETFs) may benefit from efforts to bring production back to U.S. soil.

Energy and other capital-heavy industries could also benefit as new policies favor traditional energy and infrastructure, said analyst Chris Motola, a special projects editor and financial analyst at NationalBusinessCapital.com. For everyday investors, Greg Zakowicz, e-commerce advisor at Omnisend, suggested sticking with diversified ETFs, which offer stability and lower fees.

Steele added that keeping some “safe money” accessible can prevent selling long-term investments in a downturn.

5. Make Energy Upgrades Before Credits Expire

Energy-efficient home improvements like solar or HVAC systems qualify for 30% federal credits, but many expire by the end of 2025, so you should get those done by the end of the year.

“Families delaying these upgrades could miss out on five-figure incentives,” Cummings said.

6. Audit Your Spending and Subscriptions

There’s never a bad time to budget, but the financial pressures of these times make it more important than ever. Start with recurring expenses like unused subscriptions, streaming services and delivery memberships. “Really pay attention to what you’re spending money on, even frivolous expenses,” Zakowicz said.

Small gestures, like cooking one extra meal at home per month, can save hundreds of dollars per year. Redirect those savings toward debt or an emergency fund.

7. Self-Employed? Structure Your Business Wisely

Running your own business comes with big tax advantages if you know how to use them. Steele reminded people, “The IRS will only tell you if you didn’t pay enough taxes. They’ll never let you know you paid too much!”

Choosing the right business structure and deducting eligible expenses can lower your tax bill. Plus, funding a retirement plan keeps more money working for you now and later.

In any economy, “beautiful” or not, staying proactive about taxes, savings and spending keeps you in control of your financial future.

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