If you’re a member of the middle class, you may already have made cut backs in your budget amid the ongoing tariffs debate. In fact, according to MarketWatch and Credit Karma, middle-class households are cutting back on nonessentials because of anticipated price increases from the tariffs. Around 72% of those households reported those reductions.
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Check Out: 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses
Audit Subscriptions Quarterly
Let’s be honest: Streaming services, apps and unused memberships can quietly drain cash.
Try a 10-minute review every quarter and you may be able to free up $50 to $150 per month, according to Christopher Stroup, founder and president of Silicon Beach Financial. You could redirect the funds toward savings or debt payoff.
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Consolidate Errands To Cut Fuel Costs
Tariffs can indirectly raise fuel and transportation costs. Per Stroup, grouping errands, carpooling or using rideshare credits smartly can help reduce gas use without sacrificing convenience.
Meal Plan with Tariff-Free Ingredients
Maybe it’s time to consider how you meal plan (if at all).
“Plan weekly meals around the U.S.-grown staples like beans, eggs and seasonal produce,” Stroup said. “Not only does this lower exposure to food imports, but it also reduces impulse spending on takeout.”
Delay Large Purchases Where Possible
“Appliances, electronics and furniture are often impacted by tariffs,” according to Stroup. “If it’s not essential, wait. Use the time to save up, track price drops or buy used to avoid inflated costs.”
Shop Resale and Antique Shops
In-person shops and online markets like Facebook Marketplace are a quick way to find gently-used furniture and household items at a fraction of the cost of buying new, per Annie Cole, EdD, money coach and founder of Money Essentials for Women.
Use Cash Back Programs
Cole also said to take advantage of credit card cash back programs, store loyalty programs or platforms that pay you cash back for your everyday purchases.
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This article originally appeared on GOBankingRates.com: The Middle Class Is Most Likely To Cut Back on Nonessentials Amid Tariffs: 6 Ways They Can Save
