Amid stock market volatility and tariff-related concerns, financial planner Lauryn Williams advises individuals to concentrate on what they can control, such as maintaining a rainy-day fund and practicing restraint in spending. She warns against making hasty purchases or succumbing to scams that frequently target anxious consumers during crises. Additionally, Williams emphasizes the importance of filtering news intake to avoid information overload, urging people to remain calm and only adjust their financial strategies if absolutely necessary as they navigate uncertain economic waters.
In times of economic uncertainty, focus on what you can control; that can bring anxiety levels down and help us make better decisions about our money.
Stick to buying only what you need; don't be pressured into making big purchases or stockpiling items as tariffs change, as the economic impact is uncertain.
Beware of scams during financial crises; avoid solicitations for ‘recession-proofing’ your finances and check credentials before sending money.
Don’t let news or social media incite fear; educate yourself but resist changing your financial plans without fully understanding the situation.
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