6 Frugal Habits To Adopt Amid Tariff Turbulence
Written by
Nicole Spector
Edited by
Ashleigh Ray
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What is going on with tariffs? With the costs of everyday goods constantly rising, it’s a question many Americans have been asking. And according to Yale’s Budget Lab estimate, it appears that Trump’s tariffs will cost the average household $2,800 this year.
To save money amidst rising inflation and tariff turbulence, you might consider re-evaluating your spending habits. Adopting more frugal practices can help you manage your money more effectively, no matter the political and economic climate. Here are six you can try and start today.
1. Carpool
The cost of gas is going up, and as higher tariffs create higher prices for everyday essentials, they could also 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.
2. Line Dry Laundry
It’s an old-fashioned sight: laundry drying on a line. But it’s also 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 often takes a beating from electric dryers.
3. 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.
4. Meal Prep With Locally Sourced Ingredients
You may be used to meal prepping to stay on 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
5. 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.
6. Embrace Your Local Library
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. And you can get a lot more than just books. Some libraries lend out tools, baking pans, fitness equipment and camping gear.
Caitlyn Moorhead contributed to the reporting for this article.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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