The financial landscape has been turbulent following President Trump's announcement on April 2, 2025, of significant tariffs: a universal 10% on all imports, with higher rates for specific countries—54% on Chinese goods, 20% on those from the EU, and 24% on Japanese products. Dubbed "Liberation Day," this move aims to address trade imbalances but has introduced considerable volatility into the markets.

So, what does this mean for you and me? Let's break it down:

1. Market Jitters Are Real, But Here's What You Can Control

Following the tariff announcement, the S&P 500 experienced a significant decline, dropping over 10.5% and erasing more than $5 trillion in market value. It's natural to feel uneasy seeing such headlines. At Beyond The Green Coaching, we've had conversations with clients contemplating drastic actions like liquidating their portfolios. Where we stand right now is that history has consistently shown us that markets recover over time. Reacting impulsively can often do more harm than good. 

2. The Bigger Picture: The Economy and Your Wallet

​In essence, the recent tariffs are likely to slow economic growth and increase inflation, which, combined with record-high household debt, could significantly impact your personal finances. If you’ve been waiting for a sign to get serious about your finances, this is it — and you don’t have to do it alone. Healing your relationship with money is an economic strategy. 

Your Game Plan: Staying Grounded Amidst the Chaos

1. Stick to Your Long-Term (LIFE) Goals

Don't forget about your money's purpose. If you need the money for a security deposit, a dental procedure, a down payment on a home, or the deposit for your wedding venue, do not put it in the market, no matter how tempting it is. Don't lose sight of your life goals because your friend just borrowed money from their dad to buy Nvidia. 

Market fluctuations are part of the investment journey. Sometimes, you can buy low, and sometimes, you can't. Making hasty decisions based on short-term market movements can derail your financial plans.

2. Know Your Financial Landscape

Understanding your monthly income and expenses is how you gain control over uncertain times. This is the time to know your numbers like the back of your hand. (Cheesy line, but it fits). Financial stability isn't created by a rising stock market; it's built through day-to-day financial decisions that impact whether you'll have money at the end of the day or if you'll have more debt. 

3. Build Your Financial Team to Combat Stock Market Anxiety

Building your financial team is key to navigating the stock market's volatility. And if you need a push, now is a great time to prioritize this section of your life and well-being. Because financial health is a part of caring for yourself and your loved ones. Be it an estate lawyer, budget coach, wealth manager, or accountant, your team should be able to support you during the rough and prosperous times. 

 4. Prioritize Paying Off High-Interest Debt

Paying off debt is a wealth-building strategy. Do not stop paying off your debt because of YOLO. We have lived through worse and will continue to survive uncertain times. Your credit cards can be an amazing tool to build wealth or keep you in a cycle of being overwhelmed. This is not the time to put the breaks on. Read Everything You Need To Know About Balance Transfer Cards to learn how we help clients save thousands on interest payments.

5. Build and Maintain an Emergency Fund

Cash is Queen, and having some to cover any unexpected expenses right now will make you feel safe and secure even when the market is doing somersaults. 

Final Thought

The economic landscape is ever-changing, and while staying informed is essential, it's equally crucial not to let fear dictate your financial decisions. Remember, this is about a relationship with money. How you treat it will reflect tenfold on you. By focusing on what you can control—your spending, saving, and investment habits—you position yourself to navigate through market volatility more effectively.

Remember: You've got this. And if you ever feel uncertain, we're here to help guide you through. Subscribe to our weekly newsletter HERE.