What is going on with tariffs? It’s a question that many of us have been asking Google, ChatGPT and even one another on a somewhat regular basis since President Donald Trump took office six months ago. As of mid-July, the situation is still unfolding, but a number of “reciprocal” tariffs have been enacted and it’s looking like more will come. Some country-specific tariffs may even be increased.
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Collectively, these tariffs will cost the average household $2,800 in 2025, according to Yale’s Budget Lab estimate. To save money, we need to not only be more conscious about what we buy, steering clear of items getting more expensive because of tariffs, but also to adopt frugal habits that will help us stay on track financially no matter the political and economic climate.
Carpool
The cost of gas is going up, and tariffs could push up the cost of car insurance, making driving even more expensive than it already is. If you want to dial down the driving but live in an area where public transportation isn’t a good option for commuting or school drop-off, talk to coworkers or fellow parents about carpooling. This site will help you calculate how much money you can save per month by carpooling instead of driving.
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Line Dry Laundry
It’s an old-fashioned sight: laundry drying on a line. But it’s a great way to save money. When using an electric dryer, you’re spending about 50 cents for every 40-minute session. Line drying will save you money and help preserve your clothing, which takes a beating from electric dryers.
Shop Secondhand
Some retailers have said that tariffs are forcing them to raise prices on items, particularly imported goods. Secondhand stores usually source locally and don’t have to worry about the costs of doing business overseas. Frugal shoppers have long embraced thrift shopping, and more are doing so now as tariffs drive up the prices of clothing and leather goods. Join the crowd and turn to apps/sites such as eBay, Poshmark and ThredUp when in need of a new outfit.
Meal Prep With Locally Sourced Ingredients
You may be used to meal prepping to stay within the bounds of your budget, but are you meal prepping with locally sourced ingredients? That’s key to saving money in times of high tariffs as many imported foods are expected to get a lot pricier for American shoppers. The USDA has four USDA Local Food Directories available online to help you find locally grown foods:
- USDA’s National Community-Supported Agriculture (CSA) Enterprise Directory
- USDA’s National Food Hub Directory
- USDA’s National On-Farm Market Directory
- USDA’s National Farmers Market Directory
Change the Way You Consume Energy at Home
Drying clothes in an electric dryer is just one of the many pricey habits we’ve embraced over the years when it comes to energy consumption. We also tend to leave the air conditioner on when we don’t really need it on, leave devices plugged in and refuse to tolerate a shower that is anything less than long and scalding. There are a lot of little things we can do to save energy and, by doing so, save money. For example, simply lowering your water heater temperature from the standard 140°F to 120°F could save you up to $400 per year.
Embrace Your Local Library (It Lends So Much More Than Books)
Haven’t been to the library since you were a kid? Now’s the time to re-spark the habit of going to your local den of free-to-borrow things. You can get so much there. Some libraries lend out tools, baking pans, fitness equipment and camping gear.
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This article originally appeared on GOBankingRates.com: 6 Frugal Habits To Adopt Amid Tariff Turbulence
