Tariffs Are Scary. Should You Buy Now or Save the Money? This Expert Says It Depends

Aleksandr Zubkov/Getty Images Prices are already high, and tariffs could push them even higher. It's a scary prospect. But instead of panicking, it's time to get prepared. Now is the time to evaluate your long-term goals and expenses and find ways to cut back on non-essential purchases, said Shang Saavedra, founder of Save My Cents. That doesn't mean you should cut back on everything you love, but you should put your financial goals into perspective if you're worried about higher prices impacting them. "Tariffs will hurt everyone, so everyone is in the same boat," said Saavedra. "We all have to make do if our incomes are not growing as quickly." But how exactly do you do that? Should you cancel your summer vacation? Take on a second job? Here's what to know now. Read more: Making Sense of Phone Tariffs: See How Much iPhone Prices Could Rise Should you save or buy now? The big question is, should you make purchases now or save money to prepare for more expensive purchases later? ... Read full article.