Inflation has cooled from its early-2020s peaks, but it’s still running hotter than the pre-pandemic norm. Additionally, the federal government is introducing new tariffs, on a wide range of imported goods. These tariffs, aimed at supporting domestic manufacturing, could affect vehicles, electronics, and even household essentials.
So how do you protect your purchasing power when prices are poised to rise again? Here’s your seven-step roadmap to keeping your wallet in control:
1. Buy Big-Ticket Imports Before Tariffs Hit
If you’re planning to purchase an imported vehicle, electronics, or appliance, acting before the tariffs hit hard and inventory is still high. Once tariffs are in place, those costs are often passed on to consumers.
Tip: We offer low-rate auto loans on new and used vehicles, including pre-approvals to help you shop confidently and beat any price hikes.
2. Domestic Brands Are Getting Competitive Again
As import prices rise, U.S.-based manufacturers often respond with competitive offers to win market share. This is especially true in the auto and home appliance sectors.
Deals to watch for:
- 0% financing promos on select U.S. vehicles
- Dealer cash or loyalty rebates timed with tariff announcements
- Up to $7,500 in federal tax credits for qualifying electric vehicles assembled in North America
Tip: Be sure to check eligibility for both federal and state/local incentives when comparing models.
3. Time Major Purchases with Seasonal Discounts
Tariff increases may affect base prices, but seasonal sales and inventory clearances still create good buying windows. Think: Memorial Day appliance sales or Fourth of July auto discounts.
Tip: Shop early and look for the deals that are being offered.
4. Balance Inflation with High-Yield Deposit Products
A great way to protect your money from inflation is to put it to work. High-yield savings accounts, money market accounts, and share certificates (CDs) offer returns that help offset inflation’s effects.
Tip: Ask us about our CDs and money market accounts—they’re a smart place to park emergency savings while earning more.
5. Review and Rebalance Your Budget
Even if inflation is easing, prices for groceries, services, and housing remain elevated in many areas. Revisit your budget to reflect current prices and shift spending away from categories likely to be hit by tariffs.
Tip: Meet with one of our financial coaches to help you prioritize your goals.
6. Avoid High-Interest Debt That Inflation Makes Harder to Manage
Inflation not only raises prices, but it can also lead to higher interest rates. Carrying high-interest debt, like credit card balances, can become increasingly expensive.
Tip: We have options to help members consolidate debt and reduce interest costs. Speak to a representative to learn how we can help you.
7. Stay Informed and Use Trusted Financial Partners
Markets and prices can shift quickly when policies like tariffs are announced. Stay up to date through credible news sources and lean on Credit Union of Denver as a resource. We're here to help you navigate life’s ups and downs.
We’re Here Through Every Economic Turn
At Credit Union of Denver, we believe that smart financial decisions start with support you can count on. Whether you’re planning a major purchase, building savings, or managing debt, our team is here to help you—especially when the economy throws a curveball.
We offer personalized financial guidance, competitive loan and savings rates, and tools to help you make the most of your money. If you have questions about how we can assist you, don’t hesitate to reach out. Your financial well-being is our priority, and your goals are our goals.