A recent AOL article by Stephanie Mickelson, “I Asked a Financial Advisor How I Can Dodge Tariffs and Save My Budget,” explores how consumers can navigate the effects of tariffs, inflation, and other economic pressures that continue to push prices higher. The article looks at practical ways consumers may be able to make their budgets stretch further as the cost of everyday goods increases. While avoiding the effects of tariffs entirely can be difficult, the piece highlights opportunities to reconsider certain purchases, make better use of existing resources, and find alternatives to buying new.
For insight, she asked our Chief Investment Officer and CEO, Steven Rogé, who shared several practical ways consumers may be able to reduce the impact of higher prices. His suggestions included buying secondhand, borrowing items through local libraries, and repairing or refurbishing belongings rather than replacing them. He also noted that consumers nearing the end of a vehicle lease may want to evaluate the buyout price before automatically moving into a new vehicle, particularly given changes in used car values. Ultimately, Steven emphasized the importance of revisiting needs versus wants and being more deliberate about discretionary spending, recognizing that while avoiding the effects of tariffs entirely may be difficult, consumers can still find opportunities to create more flexibility within their budgets.
Click here to view the full article.
For tailored, fee-only guidance on managing your wealth or questions about investment strategies, please contact our team of CERTIFIED FINANCIAL PLANNERTM (CFP®) professionals for a complimentary discovery call at 631.218.0077, or click here. We would be happy to show you how our financial planning process can help you stay on track and achieve your financial goals. You can also send us a message directly.
R.W. Rogé & Company, Inc. is an independent, fee-only financial planning and investment management firm serving clients locally and virtually across the country, with Long Island, New York, and Beverly, Massachusetts office locations. R.W. Rogé & Company, Inc. was founded on a “client first” culture and proudly commits to acting in your best interest as a fiduciary. We have helped clients Plan, Achieve, and Live® the life they want since 1986. To learn more about how we do this, as well as our process, explore our detailed overview of services and approach.
