With the new tariff announcements in the US, the cost of many goods will likely go up. We may be in a situation where if you don’t buy now, then you may pay more later.

What should I buy now?

While a lot of goods will see an increase in price, you need to think critically about what YOU should buy NOW. Don’t panic buy. Think about what you really need, what you want, and most importantly what you can afford. To avoid higher tariffs, you will want to buy things in store or that are already in the country. This is critical, because tariffs are applied as the product enters the country. If you order something that has to be shipped in from another country, then the tariff will be applied.

Buying big ticket items now

If you are fairly sure you want or need a big ticket item like a TV, fridge, or a car, then buying now is likely a good move. Particularly if you know that item is made overseas.

Buying small ticket items now

If you are concerned about lower cost items, like groceries or health and beauty aids, then buying now could help if you know that’s the item you HAVE to have. Purchasing right now may be smart if the item can be preserved long term. Buying the only bread that works for your allergies in bulk only makes sense if you have the means and space to preserve it. Otherwise, bulk buying items that can expire will end up costing you more in the long run.

Also, be sure to comparison shop and look for the best price. Some retailers may choose to raise prices on items even if they didn’t have to pay the higher tariff.

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