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Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

🥵 Don't look at the stock market

Published 6 months ago • 2 min read

Greetings Reader,

The stock market and tariffs. It has dominated all financial stories last week, with good reason, as the stock market lost 10%+ of its value in just a handful of days.

There are a lot of opinions as to what President Trump is trying to do. One theory is he's trying to trigger a recession to force the Fed to cut interest rates, which would make it cheaper for the U.S. to "refinance" the massive debt.

Personally, I think he is using the purchasing power of the United States to hammer our trade partners into lowering their tariffs. Other countries have had tariffs on our goods and he wants a better deal, which some have started to do.

I don't believe he wants to bringing manufacturing back to the U.S. That's not something you can do quickly and not at this cost.

We are simply passengers in this terrible ride. Some countries will negotiate, others will call Trump's bluff (which we saw him back down a bit on tariffs with Canada and Mexico). We just buckle up.

When you're rich, you can handle these swings in the stock market but it doesn't mean you want to. Trump wants to play the game of "we can outlast our opponent." The rest of us are stressed out watching our portfolios sink - but we have to wait it out.

If tariffs trigger a deep recession, because Americans can't spend as much because of these tariffs (we are the ones who pay them), and people start losing their jobs - will it be worth it?

​(View this email as a webpage)​

📉 How to prepare for a recession

I've shared this article I recently wrote in a previous email but with the risks of a recession increasing, I felt it necessary to share it again.

If these tariffs last for too long, we'll see a lot of mom and pop operations shut down because they can't afford to absorb higher tariffs or pass them along to customers and still remain afloat.

While you can't help them, you can help yourself prepare:

​👉 How to prepare for a recession​

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😟 How to avoid panicking

It's easy for me to say - "keep calm, don't panic" - but that truly is the best advice during these turbulent market times.

One thing we saw on Tuesday is that rumors of a potential tariff pause saw the market shoot up. That's how volatile things are.

Personally, this is waht I do to avoid panicking:

​👉 How to avoid panicking​

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If you're looking for budget items to cut, so you can save a little extra, streaming services should be your first choice. They're completely optional, you can always easily turn it back on, and there are plenty of free alternatives.

​👉 Best Free Online Streaming Services for 2025​
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What did you think of today's email?​
✅ I Loved It! 🟨 It Was Okay ❌ Not My Favorite​

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Talk to you soon!

Jim

PS. 🍷 Here's a good way to help you avoid talking and thinking about the stock market! 6 bottles of wine for $36 from First Leaf Wine Club!

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​(see our archive of previous emails)​

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Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

💵 Founder of WalletHacks.com

I have been writing about money for nearly 20 years and believe that personal finance is one of those subjects that is made complicated because it benefits a select few. Our aim is to help make it easier to understand so that regular folks can use what we teach to take control of their money and build wealth.

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