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Well, I went and spent a few thousand dollars on panic-buying when they first announced the tariffs 😆. I bought a bunch of shelf-stable food, toiletries, and cleaning supplies so we don't have to worry for a couple of years. Thankfully we have a big storage room to keep it all, because I definitely went overboard. But when they were talking about everything going up by 50% or more, I kind of freaked out a little bit. Now that we have everything we need for a while, the goal is to save and invest as much as possible.
Rising Star
I wish we had more room for storage!
Yeah I feel like everyone I know right now is on edge with how scary the economy feels right now. I’ve started meal planning more and paused a few subscriptions. I still try to leave a little room for small treats, like coffee out once a week. But I've definitely been focusing on building up my emergency savings just in case.
I've just been saving whatever I can and adding it to my emergency fund. I've been trying to be more thrifty anyway, so it's not a huge adjustment for me so far. I've been thinking about whether I need to make any major purchases before things get out of hand, and there's really nothing I need. I saw a Rooms to Go commercial urging people to buy before the tariffs, which I thought was interesting. But I'm not committing to any big purchases. I'm just hoping we all keep our jobs if we are forced into a recession.
You’re definitely not alone. I’m focusing on cutting variable expenses, like groceries and dining out, by meal prepping more and being intentional about when I splurge. Financially, I’ve also been contributing more to my Roth IRA and looking into a HYSA. I'll still make room for little joys like a mani-pedi and happy hour with friends, though!
I have been trying to cut costs since this year started because I was worried about costs. We hae done things such as not eating out as much and just really cutting back on the extras just in case things really start to get expensive. It seems the economy is only getting worse.
I use budgeting apps like Rocket Money app to see all my finances. Compulsively checking savings to make me feel better 😂 but seeing spending vs earnings on a monthly basis helps me be budget conscious
Rising Star
We have given up eating out or ordering in since this maniac started messing up the economy.
Rising Star
I agree with everyone! It’s scary!
Rising Star
How’s it going op?
Enthusiast
My fiancé and I are buying a house about thirty minutes outside the city. He is building me a huge garden where all of our fruits and veggies will come from. Slashing our grocery bill and being in a position to support friends and family and neighbors in need will help weather any storms. I stopped contributing to my 401k for the moment…. Too volatile with a toddler in office. I’m curbing my shopping and asking myself “do I need this and is this a necessity?” For all purchases. Paying off my car and not getting a new one.
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