Different definitions. Do you have to buy now or save money? This expert says that he depends

Prices are already high, and Definitions It can push them up. It is a frightening possibility. But instead of panic, it is time to prepare.

It is time to assess your long -term goals and expenses and find ways to reduce unnecessary purchases, Shang SavidraFounder of my Cent City. This does not mean that you must reduce everything you love, but you must put your financial goals in its right perspective if you are worried about the high prices that affect them.

“The customs tariff will hurt everyone, so everyone is in the same boat,” Savidra said. “We all have to do if we do not grow, quickly.”

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Should you save or buy now?

The big question is, you must Play purchases now Or save money to prepare for more expensive purchases later?

“Take a look at what you spend on money and ask yourself what spending should happen to preserve a healthy life,” Savidra said. Think of necessities such as housing, transportation, health care and food. “Although it is still good to save money there, you don’t want to reduce so much that you hurt yourself.”

Savidra said that making this decision may be difficult because the news about the definitions is still developing. She pointed out that the customs tariff is now, but it requires manufacturers to set an appointment – or if – they will implement high prices.

“I am completely fine with the purchase of items now, but I don’t want you to do it out of panic,” Savidra said. This often leads to unattended and rugged decisions. In addition, you may buy something that you will not fully love in the long run.

If you are already planning to make a purchase and you are financially ready for that, there is nothing wrong with buying it now – especially if you are concerned about The price rises In the coming months. However, do not make purchases on a whim just because of the high potential prices.

Whether you use money to store items now or provide, make sure you are watching you budget And other financial goals. It is still necessary to have a fully stored Emergency Fund And the money hidden for any upcoming expenses you know about.

Where your money provides important

If there is an opportunity to need money in the near future, keep it in a High -yield savings account. Currently, the annual percentage percentage is about 4 %, or about 10 times National average Savings rate. You will also have easy access to your money when you need it.

Many high -yield savings also have features to help you maintain your savings goals on the right track.

“There are accounts that allow you to set your money without the need to open many accounts, so this is what I recommend most,” Savidra said.