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Understanding The Impact Tariffs Have On Your Finances
Manage episode 479573312 series 3368904
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Welcome to another episode of the Building Your Money Machine Show! Today, I’m unpacking a topic that hits home for all of us: tariffs—and the impact they have on your wallet, your shopping cart, your investments, and ultimately, your ability to build lasting wealth and financial freedom.
If you’re feeling like your money isn’t stretching as far as it used to, and you’ve noticed those grocery bills, gas prices, even your Amazon orders creeping up, then you’re not imagining things—and you’re definitely not alone. Yes, we’ve all felt inflation, but there’s another “hidden tax” at play that doesn’t always make the headlines in a clear or unbiased way: tariffs.
In this episode, I peel back the layers of what tariffs really are, why governments use them, and—most importantly—how they quietly (and not-so-quietly) drive up costs for every one of us. I’ll explain how tariffs don’t just affect the big companies importing goods, but how those costs find their way directly into your life, from everyday necessities like groceries and clothing, to big-ticket items like electronics and cars.
IN TODAY'S EPISODE, I DISCUSS:
- What tariffs are (in plain English) and how they work
- How tariffs raise costs on groceries, clothes, electronics, and cars
- How tariffs create market uncertainty and impact your investments and savings
- Practical steps to protect your finances from tariff effects
- Why a real investment strategy is critical in uncertain times
- Why preparation—not panic—is key to financial resilience and freedom
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- Major Money Milestones To Achieve in Your 40s: https://youtu.be/g1oU_X1MPMA
- How To Save More in 6 Months Than Most People Do in 6 Years: https://youtu.be/IO4ZRL1B244
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