How to handle your money during tariff uncertainty

This episode explores how to navigate personal finances during times of economic volatility. Against the backdrop of a fluctuating economy and rising anxieties, certified financial planner and Olympic gold medalist Lauryn Williams advises listeners to limit exposure to overwhelming news and social media, focusing instead on what they can control. More significantly, she emphasizes the crucial role of building an emergency fund—ideally six to twelve months' worth of expenses—through automated savings in a separate, less accessible account to avoid impulsive spending. For instance, she suggests minimizing debt payments temporarily to prioritize emergency savings, contrasting this approach with the usual advice of paying off high-interest debt first. As the discussion pivots to retirement savings, Williams distinguishes between the long-term strategies for younger generations and the need for more immediate adjustments for those nearing retirement, recommending financial advisors for the latter group. Finally, regarding tariff-related purchases, she advises focusing on necessities and avoiding impulsive buying based on uncertain price fluctuations, concluding that informed, controlled actions are key to weathering economic uncertainty.