2025 has presented a news-filled first quarter for people looking to stay the course with their finances. Updates from the nation’s capital around tariffs, inflation, and jobs have been interspersed with (sometimes daily) market volatility.

People may choose to adjust their asset allocation based on many factors like their age or comfort level with risk. However, academic research indicates that as these “market anomalies” become known and widely incorporated into trading algorithms, these effects tend to dissipate.

Prior to November 2024, more than a third of Americans (34%) believed the presidential election was a major predictor of their retirement timeline and financial security, according to Empower research.

As regulations change, keeping personal finances top of mind is important. New announcements can serve as opportunities for people to consult their finances, consider next steps, and gain confidence in their financial future.

Check out loan commitments

Student loans have been in the economic spotlight: In early March 2025, the U.S. Education Department put a pause on four federal income-driven repayment plans for borrowers.¹

As of the fourth quarter of 2024, student loan debt amounted to more than $1.7 trillion, a 2.53% year-over-year increase.² As programs shift, consolidating and refinancing student loans could be another option as interest continues to accrue.

It’s important to remember that student loan repayment can be just one part of the overall debt picture. Empower findings show that more than a third of people (36%) don’t talk about debt.

People can help safeguard their data and become more aware of their credit score, interest rates, and payments by giving finances a spring cleaning.

Read more: Protect wealth with this 5-step checklist

Remember tax deadlines

The IRS ushered in some policy revisions to start this year’s tax season, including new thresholds for 1099-K forms, which notify people who have made money online about their taxable income.

The agency itself also saw a staffing shift as filing season launched: The IRS reduced its workforce by about 7,000 people in February, with ongoing discussion in early March about further adjustments.³

With the April 15 deadline fast approaching to submit a 2024 tax return, filing early and opting for an electronic refund could be a way to stay ahead of potential delays due to staffing. Payers in 24 states could be eligible for the IRS’ Direct File program for filing federal taxes electronically for free.

For those who may need more time, filing a tax extension is a good first step, though keep in mind that any taxes owed will still need to be paid by April 15, or be subject to a failure to pay penalty.

Read more: What happens if you don’t file taxes on time?

April 15 also marks the deadline for the first quarterly batch of 2025 estimated tax payments. In general, the IRS requires estimated tax payments from people who expect to owe $1,000 or more in taxes upon filing a return.⁴ Whether someone needs to submit payments can also depend on how much in taxes they have had withheld from their paychecks, using the W-4 tax form.

Taking macro moves in stride

Thanks to the power of compounding, financial decisions made now could lend a helping hand toward future goals. Empower research reveals that many Americans have already checked some money milestones off their list:

• 47% have successfully paid off their debts

• 40% have achieved homeownership

• 39% have started an emergency fund

• 32% have started securing retirement savings

To handle money moves still in the works, nearly a third of people (32%) say they need a financial roadmap to reach their goals.

While news and policies can be fluid, bills and notices that arrive are very much still a reality. By staying focused on what’s within their control, people can continue on the road toward financial success.