I’ve recently added a journal entry series to my blog, and today I want to share some of the small, practical changes I’m making to prepare myself for the possibility of economic shifts—like potential trade walls or rising inflation.
Let me be clear from the start: this isn’t about politics. I don’t post, comment, or engage in political discussions. But that doesn’t mean I’m not quietly preparing for what might come.
Why I’m Preparing
Right now, I’m financially comfortable. My pension covers everything I need, and I’m incredibly grateful for that. But pensions don’t increase with inflation—and at 60, I want to make sure I can maintain this comfort for the rest of my life, no matter what happens in the world.
I’m taking a proactive, calm approach—just being mindful and intentional.
Steps I’m Taking
💰 Emergency Fund in a High-Yield Savings Account
I’ve saved up a small emergency fund and parked it in a Capital One 360 high-yield savings account. If you're looking for alternatives, here are a few others I recommend:
- Ally Bank
- Discover Online Savings
- American Express® High Yield Savings
- SoFi Savings (especially great with direct deposit boosts)
These online savings accounts are easy to use and help your money grow a little while it sits.
💳 Becoming Debt-Free
I’ve paid off all my credit card debt. That alone brought a huge sense of relief—and it's one less thing to worry about in uncertain times.
🔒 Practicing “Financial Fasts”
One or two days a week, I practice a financial fast—meaning I spend zero money. No groceries, no online purchases, no coffee runs. It’s surprisingly refreshing and really puts my spending into perspective.
📝 Financial Journaling
I’ve started tracking my spending in a financial journal. At the end of the month, I go back and review everything. It gives me a clear picture of my habits and helps me plan for the next month.
✂️ Cutting Back—Without Feeling Deprived
Here are a few everyday changes I’ve made:
- Less frequent haircuts and nail appointments
- Freezing all tech and electronics spending
- Washing my car at home
These small changes keep me focused on what I really need and help boost my savings without feeling like I’m missing out.
Final Thoughts
I’m not living in fear. I’m just preparing. If nothing happens, then the only “side effect” is that I’ve saved more, built better habits, and created a financial buffer for peace of mind. That’s a win either way.
Your Turn
What are YOU doing to prepare financially?
I'd love to hear your tips, big or small. Please keep the conversation free of politics and focused on personal actions and ideas. We can all support each other by sharing what’s working.