As global markets react to fluctuating stock prices and new tariffs, many individuals are feeling increased anxiety about their finances. During periods of economic uncertainty, experts like Lauryn Williams, a certified financial planner and founder of Worth Winning, emphasize the importance of focusing on what is within one’s control. “That can bring our anxiety levels down,” Williams explains, which in turn enables better decision-making. Instead of reacting impulsively to headlines, she recommends relying on traditional, time-tested financial anxiety practices: maintain an emergency fund, curb unnecessary spending, and stay calm.
Williams stresses that even with fears surrounding tariffs and inflation, it is crucial to avoid making panic-driven purchases or financial decisions. She advises against stockpiling goods or making major purchases unless absolutely necessary. Since the full impact and duration of the new tariffs remain uncertain, she urges consumers to limit spending to essentials only. Moreover, she warns of the increased presence of scams during economic downturns, especially those promising quick financial fixes. To avoid falling victim, individuals should carefully vet any financial services or advisors and stay away from high-pressure tactics.
Filtering Financial Anxiety Noise and Protecting Your Mindset
Another key concern during economic instability is the overwhelming flood of information. News updates, social media posts, and group discussions can often escalate anxiety rather than inform. Williams advises people to limit their exposure to financial commentary if it becomes distressing. “Don’t just start pressing buttons and changing your plan unless you absolutely know what’s going on,” she cautions. The goal is to remain informed without being driven by fear.
For those feeling mentally burdened, taking a break from constant updates may be beneficial. Unfollowing anxiety-inducing sources or stepping back from the news cycle can help maintain emotional and financial stability. In essence, maintaining a calm mindset is just as important as making wise monetary choices during times of economic flux.
Practical Steps for Financial Resilience
To weather economic uncertainty, Williams encourages consistent action toward financial anxiety stability. Building up an emergency fund remains a top priority. Whether facing inflation, job loss, or unforeseen emergencies, having a financial cushion can make a significant difference. Additionally, she recommends reevaluating debt payments. While reducing payments to the minimum can free up cash in the short term, it’s important to continue targeting high-interest debts to avoid long-term financial strain.
For those nearing retirement—particularly within a three-to-five-year horizon—consulting a certified financial planner is strongly advised. Economic swings can impact retirement portfolios, and professional guidance can help in developing a personalized strategy. Conversely, those with more time until retirement should resist the urge to frequently monitor investment performance. “Market volatility is not going to affect your long-term outcome,” Williams says, encouraging continued investment to capitalize on future market rebounds.
By staying calm, cutting through misinformation, and making thoughtful financial moves, individuals can better navigate economic turbulence and protect their long-term financial health.
