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Trump used tariffs in his first term and that trend is continuing in his second term.
These are some of the money habits to avoid whentariffs begin to impact prices.
He mentioned that people who primarily buy imported goods will be more impacted by tariffs.
One of the smartest financial moves consumers can make during a tariff period is to focus on shopping local.
Imported goods are often hit the hardest by tariffs, which means the prices can skyrocket, he said.
If you dont review your expenses, the higher costs can catch you by surprise.
Many consumers underestimate the impact tariffs will have on their spending.
Sticking to thesame spending habitswithout adjusting for price hikes can lead to overspending, quickly resulting in debt.
Being proactive with your finances will help cushion the effects of these economic shifts and keep you financially stable.
you could then decide which purchases you want to continue and which ones you could reduce.
You might also find some monthly subscriptions forproducts and servicesthat you no longer use.
Bethune advocates for price comparisons and explained that ignoring this step can result in a higher bill than necessary.
With tariffs in place, its crucial to be diligent about price comparisons.
By actively comparing prices before making a purchase, consumers can avoid overpaying for the same item.
This simple step can make a big difference, especially with everyday essentials or high-ticket items.
you’re able to find different prices for the same food if you shop atmultiple grocery stores.
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