Related Articles
By: Ellie Burgueno, Journalist and Writer.
Whether you’re sipping coffee at a corner café or scrolling through your feed, there’s a high chance someone nearby is talking about tariffs, inflation, or rising costs. What once felt like distant policy debates in Washington are now creeping into kitchen table conversations across California—and with good reason.
As new tariffs imposed by President Donald Trump begin to ripple through the economy, households are already feeling the pressure. From higher grocery bills to more expensive electronics and automobiles, the uncertainty is creating tension even among the wealthiest Americans. But while fear is a natural reaction to economic turbulence, panic spending—or spending to impress—can be one of the biggest threats to financial resilience.
Let’s talk about how to stay calm, grounded, and financially smart when the market feels anything but.
One of the most damaging financial habits—especially during volatile times—is spending to impress others. Whether it’s upgrading to the newest iPhone, buying a luxury vehicle, or dining out regularly just to maintain appearances, these behaviors drain your wallet and do little to build true financial security.
A Swedish proverb sums it up perfectly:
“He who buys what he does not need, steals from himself.”
Let go of the urge to impress people who don’t support you, aren’t in your circle, or who wouldn’t be there for you when the economy truly gets tough. Choose peace of mind over perceived status.
The Shocking Truth About New Cars
Here’s something I learned firsthand while working in the auto industry: buying a brand-new car is one of the quickest ways to lose money. I was once the top car saleswoman at a Ford, Lincoln, and Mercury dealership—closing 24 deals in a single month. I even worked as a finance manager at a major dealership. But do you know what stuck with me the most? The owner—who managed three dealerships—would regularly advise us, his employees, not to buy brand-new cars.
Why? Because the moment you drive that new car off the lot, it depreciates by an average of 20% to 30%.
That’s thousands of dollars lost instantly. Add in sales tax, registration, insurance premiums, and you’ve just committed to an expense that won’t hold its value.
Instead, opt for reliable, pre-owned vehicles. Many certified used cars come with warranties and can save you significant money while still meeting your transportation needs. Personally, I learned to flip cars for extra income—a skill anyone can develop with a little time and research.
With tariffs poised to raise prices on new vehicles and imported car parts, smart consumers should avoid unnecessary auto purchases unless it’s a well-priced used car in good condition.
The Price Hikes Are Real — So Choose Wisely
According to a MarketBeat.com survey of over 2,750 Californians, the most discussed economic topic today is tariffs. This concern is followed closely by the rising cost of groceries, housing, and gas. As tariffs on electronics, household goods, and imported products take hold, prices will likely spike on:
- Smartphones
- Computers
- Home appliances (fridges, ovens, washers)
- Automobiles
- Household necessities
- Food!
Yet, smart shopping still exists. Secondhand platforms, outlet stores, and budget-friendly alternatives can offer solid quality without the hefty price tag. You don’t need the latest gadget if a functional, reliable model meets your daily needs. Ask yourself: do I want it because it’s useful or because it looks good on Instagram?
Focus on Financial Habits That Build Resilience
Legendary investor Warren Buffett once said:
“Do not save what is left after spending, but spend what is left after saving.”
Build your resilience by flipping this common habit. Here are a few strategies to consider:
- Create an emergency fund with at least 3–6 months of living expenses.
- Limit emotional purchases, especially during times of stress.
- Buy secondhand when possible—from clothes to furniture to cars.
- Cut unnecessary expenses, like subscriptions or eating out too frequently.
- Use economic downturns to learn new skills—whether it’s budgeting, DIY repairs, or even side hustles like flipping cars!
And remember this quote by Charles A. Jaffe:
“It’s not your salary that makes you rich, it’s your spending habits.”
We Can’t Control Tariffs—But We Can Control Our Reactions
According to the MarketBeat.com survey, while 80% of Californians say they understand tariffs, only 34% feel confident enough to explain them at a party. That’s telling—not just about policy complexity, but about how deeply these issues are starting to affect people on a personal level.
Yet, despite the chaos, we do have choices. We can cut down on non-essentials, buy smarter, and focus on long-term security instead of short-term image. We can turn economic challenges into opportunities for growth, discipline, and strength.
Tariffs may raise prices, but wisdom raises our capacity to thrive in any economy.
Ellie Burgueno is a journalist, speaker, and Editor-in-Chief of Imperial Valley Insight and Beyond Borders Gazette. She writes about empowerment, finance, and resilience in uncertain times.