Was there something you particularly wanted for yourself or your family this year for the holidays? May I suggest you buy it now? Temu has stopped shipping to the US. Chinese ships are sitting in the ports. Retailer’s have about a 6 week supply. Then supply will get narrower and the price will go up.
Perhaps it will be a good thing that we all buy less. We probably don’t need all the clothes in our closets and donating them will make them available to others who can use them. I’ve begun to check where things like Legos are manufactured. The grandkids always like those. Should I ask the kids now for their kids Xmas lists? Should I finally learn to knit/ crochet? Oh my! You probably won’t want my first articles if I get serious about handicrafts.
If this was the biggest issue we could surely survive the tariffs…. The uncertainty of the daily drama is killing a lot of small business that don’t have years worth of cash. Bigger businesses have already ordered 6 months’ supply of screws and bolts, and ancillary items that could stop the completion of a product. COVID taught us how to navigate shortages if we have the resources to buy ahead.
Individuals as well as businesses have adapted their behavior in anticipation of the shortages and price increases. Sales of new cars in California were up 8% in March and April over 2024. That won’t last long as pre-tariff models get sold off the lots.
The most important thing for families is to spend less than you earn. It makes sense to cut out subscriptions and random purchases that seemed like a nice luxury in the past. This week, review your spending and be rigorous. Either you cut now, or you will be cutting a lot more later. Save a little of that money for some fun at the end of the year. Oh, and buy those Christmas toys now.
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