How do I navigate tariffs?
<div class="user-question">I'm confused about what's the best thing to do with all the talk around tariffs. Should I just stop buying things? That doesn't seem reasonable or realistic… Or do I just continue living as always? Or are we all supposed to cut down on our lifestyles to match the tariffs? I also don't fully understand how they actually work & how they affect the price of things. What's the smartest thing to be doing right now??</div>
This is a smart question and I’m happy you’re asking because so many people are wondering the same thing. It’s one of the biggest concerns I’ve gotten from people coming to Wealthramp, who are looking for financial advice. Tariffs sound like an economic issue straight out of Washington and, frankly, may seem unrelatable - until you’re standing in the checkout line at Whole Foods wondering why the same bag of groceries costs more than last month.
Here’s a simple explanation: A tariff is just a tax on the imported products we buy and use everyday - coffee, olive oil, chocolate, and jeans, T-shirts, sneakers. The tariffs have to be paid when those items first enter the U.S. Big retailers like Walmart, Target, or Costco that have scale and bargaining power may be willing to absorb some of the extra cost themselves - but not forever. At some point, that tariff gets passed onto us in the form of higher prices.
Now, I know we’ve heard repeatedly that tariffs are “a tax on another country” and that individual Americans won’t have to pay more. The truth has nothing to do with politics – it’s simple economics: price increases from tariffs meant to be paid by the country exporting the goods are actually paid by U.S. importers - and then passed right down to you and me in the form of higher prices.
So, while tariffs are supposed to be a penalty on another country, what they often look like in real life is a hidden tax on everyday purchases we make here at home.
This is why tariffs are such a political hot potato. Policymakers argue over whether they help U.S. businesses or hurt consumers, while economists watch closely to see how prices respond. And when those higher costs finally show up at the grocery store - or fuel the threat of broader inflation - everyone feels it.
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Let’s walk through what that means in plain English - and how you can respond without completely changing your lifestyle
1️⃣ Tariffs are simply taxes on imports. U.S. companies have to pay more to bring goods into the country, and those added costs often end up in the prices we pay.
2️⃣ Price increases don’t happen overnight. Stores may still be selling inventory purchased before the tariff hike, so it can take time before you notice changes.
3️⃣ You probably don’t need to stop shopping or drastically slash your spending - but you will protect your wallet by being more intentional about what you buy.
4️⃣ I always say, focus on what you can control because there are so many things out of our control. Tariffs are policy decisions you can’t change, but you can respond by adjusting your budget, comparing prices, and timing bigger purchases with a little extra thought and planning.
How this shows up in daily life
Let’s talk about which items are going up. Not every product gets hit the same way, but here are a few categories where you’re most likely to feel it:
1️⃣ Groceries - imported foods like coffee, cheese, wine, and fresh produce often get more expensive.
2️⃣ Clothing and shoes - many brands rely on overseas materials and manufacturing, so costs rise here too.
3️⃣ Electronics - phones, laptops, and chargers depend on imported parts, making them vulnerable.
4️⃣ Big-ticket items - cars, furniture, and appliances that use global supply chains are especially exposed.
Prices don’t usually jump overnight - stores usually sell through older inventory first. But then over time, if tariffs are ongoing, those added costs almost always show up on the shelf.
Smart moves you can make right now
The smartest way to deal with rising prices is to stay informed, stay flexible, and make small adjustments that fit your personal priorities. In fact, using this moment to cut back on unnecessary spending can help you free up cash to put to work in savings or investments - which strengthens your financial position even as inflation chips away at purchasing power.
Small changes add up. Think about:
1️⃣ Swapping a few brand-name groceries for store brands
2️⃣ Cooking at home one extra night a week instead of ordering in
3️⃣ Pausing or canceling subscriptions you rarely use
<div class="frich-tip">Frich tip: Here's our favorite tool that makes catching unused subscriptions & canceling them easier than ever!</div>
4️⃣ Bundling errands to save gas
5️⃣ Calling your cell or internet provider to negotiate a lower bill
You can’t control tariffs, but you can control how you respond
1️⃣ Be a mindful shopper. Really look and compare prices and keep an eye out for the U.S.- made alternatives.
2️⃣ Plan ahead for big purchases. If you know your fridge is on its last legs, it may be cheaper to replace it sooner rather than later.
3️⃣ That said, skip the panic buying. Stockpiling usually backfires. Buy what you need, when you need it.
4️⃣ Build a small cushion. Even setting aside an extra $25–$50 a month for groceries can ease the stress when prices jump.
<div class="frich-tip">Frich tip: Always keep your safety cushion in a HYSA. Here's our team's current favorite.</div>
Keep perspective
The good news is that while tariffs often push prices up - and can feed into inflation - they don’t last forever, and they rarely force people to completely change how they live.
The goal isn’t to stop shopping or slash your lifestyle. It’s to make small, deliberate choices that protect your budget, fight back against inflation’s bite, and put you in a stronger position for the future - without giving up the things that matter most.
By making small adjustments, you protect your budget without giving up the things that matter most.
Found this valuable? Here are some more deep dives from the Frich team 🤝
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Bottom line: Tariffs may sound like something that happens in Washington, but they show up right in your cart at Target or Trader Joe’s. You don’t need to panic or overhaul your life - just shop a little smarter, plan ahead, and remember that these policies shift over time.
You got this!
Pam Krueger, Founder & CEO of Wealthramp
