{"id":66951,"date":"2025-07-16T10:22:20","date_gmt":"2025-07-16T10:22:20","guid":{"rendered":"https:\/\/www.europesays.com\/us\/66951\/"},"modified":"2025-07-16T10:22:20","modified_gmt":"2025-07-16T10:22:20","slug":"things-you-should-do-with-your-money-amid-rising-prices","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/66951\/","title":{"rendered":"Things You Should Do With Your Money Amid Rising Prices"},"content":{"rendered":"

With the news that U.S. consumer prices rose in June<\/a>, there are mounting concerns about the impact of President Donald Trump<\/a>\u2019s tariffs on inflation. <\/p>\n

For everyday consumers in this country, the potential for further price increases is particularly anxiety-inducing after years of strain on wallets. <\/p>\n

\u201cIn times of uncertainty, it\u2019s kind of natural \u2015 or even instinctual \u2015 for some of us to close our eyes and avoid what\u2019s ahead,\u201d Julie Beckham, aka \u201cMs. Money,\u201d<\/a> the assistant vice president of financial education strategy at Rockland Trust, told HuffPost. \u201cBut when it comes to your money, knowledge is power.\u201d<\/p>\n

That\u2019s why it\u2019s important to pay attention to your financial situation and take action when necessary.<\/p>\n

\u201cRising prices can be stressful, especially when it feels like paychecks aren\u2019t stretching as far as they used to,\u201d said Julie Guntrip<\/a>, head of financial wellness at Jenius Bank. \u201cThe good news is there are some steps that could help people stay more grounded financially.\u201d<\/p>\n

Below, Beckham, Guntrip and other experts share nine things you should do amid the latest economic news. <\/p>\n

1. Resist the urge to stockpile.<\/strong><\/p>\n

\u201cWhile it\u2019s a natural reaction to want to buy items early<\/a> when you expect prices to rise, this kind of stockpiling can lead to overspending and waste,\u201d said Kimberly Palmer<\/a>, a personal finance expert at NerdWallet. \u201cYou might end up not even needing the items.\u201d<\/p>\n

Instead, she recommended taking time to look at your overall budget and spending needs before making purchases. <\/p>\n

\u201cDon\u2019t panic-buy or overextend yourself just to \u2018beat\u2019 future price increases,\u201d echoed Jennifer Seitz<\/a>, a certified financial education instructor and director of education at the family finance app, Greenlight. \u201cHoarding or chasing deals can lead to overspending and clutter. Be wary of emotional spending disguised as self-care, especially during stressful times. It\u2019s easy to justify retail therapy when prices rise and things feel out of control, but those impulse purchases often compound stress, not relieve it.\u201d<\/p>\n

2. Review your recent expenses.<\/strong><\/p>\n

\u201cNow is the time to audit your spending,\u201d Seitz said. \u201cPull up your last two months of expenses and identify three areas where prices have crept up or where habits have changed \u2015 whether it\u2019s grocery bills, restaurant takeout, or subscriptions.\u201d<\/p>\n

An expense audit can provide clarity on where your money is going and what\u2019s actually being used. <\/p>\n

\u201cStart by giving yourself permission to adjust to increasing costs,\u201d said Lindsay Bryan-Podvin<\/a>, a financial therapist with Cash App and founder of Mind Money Balance.<\/a> \u201cThis is a time to review your income and expenses and make sure you can still cover your needs without feeling too tight. Make sure your essentials are covered without feeling overly stretched.\u201d<\/p>\n

\n

\u201cIf you\u2019re tempted to make a major money move, pause. Sleep on it, go for a walk. Giving yourself space to process instead of reacting in the moment can save you from bigger headaches down the road.\u201d<\/p>\n

– Lindsay Bryan-Podvin, financial therapist<\/p>\n<\/blockquote>\n

If things are already feeling tight, Bryan-Podvin recommends looking for areas you can tweak temporarily to create more breathing room. Things like setting spending limits or increasing your meal planning can make a difference. <\/p>\n

\u201cI\u2019m a fan of letting tech do some of the extra lifting for you,\u201d she said. \u201cThis might mean opting into more coupons and deals and opting out of tempting merchants.\u201d<\/p>\n

3. Try to stick to a clear monthly budget.<\/strong><\/p>\n

\u201cTry to stick to your typical monthly budget, allowing for some flexibility around essential purchases while adjusting spending in other nonessential areas, if needed,\u201d said Courtney Alev<\/a>, a consumer financial advocate at Credit Karma.<\/p>\n

Regardless of the economic climate, she emphasized that maintaining a budget that works for you will always strengthen your financial standing. <\/p>\n

\u201cAre there areas where you can scale back or shift spending in ways that are more in line with your goals?\u201d Palmer asked. \u201cApplying a budget, like the 50\/30\/20 budget<\/a> where 50% of your take-home pay goes toward needs, 30% toward wants and 20% to debt payments beyond the minimums and savings can be a helpful strategy.\u201d<\/p>\n

You can also adjust the percentages to whatever breakdown makes the most sense for your life. <\/p>\n

\u201cWhether it\u2019s the 50\/30\/20 rule, the envelope system<\/a> or zero-based budgeting<\/a>, having a clear strategy helps you stay in control of your money,\u201d said Janelle Sallenave<\/a>, chief spending officer at Chime. \u201cA well-defined budget makes it easier to prioritize needs, reduce overspending and continue saving, even when prices are higher than usual.\u201d<\/p>\n

4. Redeem gift cards and rewards.<\/strong><\/p>\n

\u201cSince the start of 2021, prices have grown by an average of about 25%,\u201d said Ted Rossman<\/a>, a senior industry analyst at Bankrate. \u201cA lot of the low-hanging fruit is gone. As in, many people have already traded down to cheaper brands or cheaper stores, delayed purchases, shopped around more aggressively, sought out more discounts, etc.\u201d<\/p>\n

If there\u2019s still room for you to do these things, that can relieve some pressure. But if you feel stretched to your limit and are worried about sticking to your budget, take a look at everything else at your disposal. <\/p>\n

\u201cI\u2019m a big fan of earning and redeeming credit card rewards \u2015 just make sure to pay in full to avoid interest,\u201d Rossman said. \u201cEven things like cashing in unused gift cards can help. Almost half of U.S. adults have these, averaging $244 per person<\/a>.\u201d<\/p>\n

5. Track deals.<\/strong><\/p>\n

\u201cGiven the current economic uncertainty and strain on consumers, many retailers are offering sales and discounts throughout the year,\u201d Palmer said. \u201cTake advantage of those lower prices when you can, especially if you need to purchase an expensive item like a new appliance.\u201d<\/p>\n

She suggested price-monitoring tools like the Honey, PayPal and Camelizer browser extensions.<\/p>\n

\u201cWhen you are making a purchase, take time to compare prices to make sure you\u2019re getting the best deal,\u201d Palmer added. <\/p>\n

\"Don't<\/p>\n

MoMo Productions via Getty Images<\/p>\n

Don’t let panic rush you into big financial decisions. <\/p>\n

6. Avoid rushing into big decisions.<\/strong><\/p>\n

\u201cDon\u2019t panic and make financial decisions from a place of fear,\u201d Guntrip said. \u201cWhen prices rise, it\u2019s tempting to take on more debt or dip into savings without a clear plan. But try to avoid knee-jerk reactions, like cashing out retirement funds or relying heavily on high-interest credit cards to fill gaps.\u201d<\/p>\n

Indeed, \u201cdoom spending\u201d<\/a> is a very real phenomenon that consumers should seek to avoid. <\/p>\n

\u201cDon\u2019t rack up additional debt or dip into long-term savings for short-term costs,\u201d urged Bo Tran<\/a>, a Northwestern Mutual financial adviser. \u201cWhile the uncertainty remains high, the answer in dealing with unpredictability in the economy and markets is unchanged. This is the time to focus on stability, not short-term fixes, and understanding the broader picture helps to respond thoughtfully rather than reactively.\u201d<\/p>\n

Remember that we can\u2019t predict the future, so just focus on what makes sense for you in the given moment. <\/p>\n

\u201cOne thing we\u2019ve learned about tariffs in recent months is that these announcements can be fickle,\u201d Rossman said. \u201cIt\u2019s one thing if you really need a new car or refrigerator and so on. But if you\u2019re stocking up just because you think you\u2019re getting ahead of something that might happen, you might end up regretting that decision.\u201d<\/p>\n

He recommended delaying large purchases that don\u2019t need to be made right now. Unless there\u2019s serious urgency, you can probably live with your old kitchen cabinets, car or washing machine for another year or two. Rushing to buy big-ticket items or entering into big contracts can lead to issues like overpaying, not getting the model you wanted and getting stuck with high interest rates. <\/p>\n

\u201cDon\u2019t try to time the market, buy into the latest \u2018sure thing\u2019\/ investment, or take big financial swings,\u201d Bryan-Podvin said. \u201cIf you\u2019re tempted to make a major money move, pause. Sleep on it, go for a walk. Giving yourself space to process instead of reacting in the moment can save you from bigger headaches down the road.\u201d<\/p>\n

7. Build a financial cushion.<\/strong><\/p>\n

\u201cWith ongoing updates and changes in the news, the best approach is to focus on proactive steps to protect your financial well-being, no matter what\u2019s happening in the broader economic landscape,\u201d Alev said. \u201cBuilding a financial cushion through an emergency savings fund can provide a buffer and give you peace of mind in any economic circumstance.\u201d<\/p>\n

She emphasized the value of consistency, whether you\u2019re paying down debt or contributing to savings and emergency funds.<\/p>\n

\u201cAs much as possible, do not forgo saving and investing for the future,\u201d said Vincent Birardi<\/a>, a certified financial planner and wealth advisor at Halbert Hargrove. \u201cThat means sticking with your investment plans to pursue future goals such as retirement and college planning for kids. Economic cycles are exactly that \u2015 peaks and valleys \u2015 but sticking to a long-term plan helps you to harness the powers of compounding and dollar-cost averaging.\u201d<\/p>\n

Overall, try to keep your approach as simple as possible. <\/p>\n

\u201cFocus on the basics \u2015 an emergency fund (ideally in a HYSA), paying down high-interest debt, and making sure you have financial space for life\u2019s little treats,\u201d Bryan-Podvin advised. \u201cEven when things are tight, too much financial restriction can backfire.\u201d<\/p>\n

8. Lean on your community.<\/strong><\/p>\n

\u201cLean on your community,\u201d Bryan-Podvin urged. \u201cShare with friends and family alternative ways to connect and hang out that are more affordable. Sharing resources, offering support, or staying connected through local events can be just as important as any line item in your budget.\u201d<\/p>\n

In particularly difficult times, you may also discover organizations dedicated to helping people make it through \u2015 from community centers to food pantries to councils on aging.<\/p>\n

\u201cReach out to see if there are local resources you aren\u2019t leveraging,\u201d Beckham said. \u201cAn organization that helps you today may be the one you end up volunteering for or donating to tomorrow.\u201d<\/p>\n

9. Be kind to yourself.<\/strong><\/p>\n

\u201cWith ongoing announcements and updates about tariffs and their potential impact, it\u2019s important to focus on what you can control right now,\u201d Alev said.<\/p>\n

Understand you can\u2019t change the economy, but you can dictate your reaction to it. <\/p>\n

\u201cLife is long, if you are lucky,\u201d Beckham said. \u201cAnd just because everyone is talking about the economy doesn\u2019t mean you need to let it consume you. Stay informed, but also stay focused on what is important, not just in the world, but what\u2019s important in your world.\u201d<\/p>\n

She recommended savoring the little things in life that bring you joy and remembering that the economy tends to be cyclical with ups and downs. <\/p>\n

20 Years OfFreeJournalism<\/p>\n

Your Support Fuels Our Mission<\/p>\n

Your Support Fuels Our Mission<\/p>\n

For two decades, HuffPost has been fearless, unflinching, and relentless in pursuit of the truth. Support our mission to keep us around for the next 20 \u2014 we can’t do this without you.<\/p>\n

We remain committed to providing you with the unflinching, fact-based journalism everyone deserves.<\/p>\n

Thank you again for your support along the way. We\u2019re truly grateful for readers like you! Your initial support helped get us here and bolstered our newsroom, which kept us strong during uncertain times. Now as we continue, we need your help more than ever. We hope you will join us once again<\/a>.<\/p>\n

We remain committed to providing you with the unflinching, fact-based journalism everyone deserves.<\/p>\n

Thank you again for your support along the way. We\u2019re truly grateful for readers like you! Your initial support helped get us here and bolstered our newsroom, which kept us strong during uncertain times. Now as we continue, we need your help more than ever. We hope you will join us once again<\/a>.<\/p>\n

Support HuffPost<\/a><\/p>\n

Already contributed? Log in to hide these messages.<\/a><\/p>\n

\u201cEnjoy what you have and try different things with the family,\u201d urged D\u2019Andre Clayton<\/a>, co-founder of Clayton Financial Solutions. \u201cEnjoy simple things with your family that may not have a high expense. Board games and cards, swimming, hiking and exercise also keep a clear mind, so that irrational decisions are minimized.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"With the news that U.S. consumer prices rose in June, there are mounting concerns about the impact of…\n","protected":false},"author":3,"featured_media":66952,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,79,266,6459,255,67,132,68],"class_list":{"0":"post-66951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-economy","10":"tag-inflation","11":"tag-money","12":"tag-personal-finance","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114862420272940685","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/66951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=66951"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/66951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/66952"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=66951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=66951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=66951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}