On Apr. 2, President Donald Trump announced that global tariffs would be implemented on imported goods entering the United States. “Liberation Day” was designed to level the playing field as it relates to trade practices with other nations.

Historically, an increase of tariffs has triggered higher inflation, and this is a major concern for experts today. The relationship between tariffs and inflation is due to the potential increased expenses being passed onto the average consumer of a product that is shipped internationally. Such actions can contribute to great financial woes within a family.

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As a financial planning expert, here are five ways you can change your spending to avoid the potential impact tariffs may have on inflation.

Evaluate Your Debt

One of the biggest challenges with the implementation of tariffs causing inflation to rise is the effect it will have on interest rates. While it may not make economic sense to aggressively pay down debt, primarily consumer debt, during uncertain times, looking to shift credit card balances to zero percent vehicles makes sense. It will give you time to pay down the liability while keeping your expendable resources available as prices begin to increase.

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Review Your Monthly Budget

Identify your nondiscretionary versus your discretionary expenses to determine in advance what adjustments you are willing to make to maintain a comfortable standard of living.

Look for opportunities to review the monthly automatic payments for goods and services you don’t utilize consistently. Putting a temporary freeze on gym memberships that are not regularly used or other subscriptions you may not fully take advantage of are minor tweaks to your budget that can help you navigate through economic uncertainty.

Avoid Making Major Purchases Unless Necessary

While the United States remains the second-largest manufacturing country behind China, it has slowly transitioned from being predominantly manufacturing to a service-based economy. Therefore, one can expect goods and products to cost more.

For example, the automotive industry did an analysis indicating an increase in tariffs will detrimentally impact auto parts, even if car production is completed in the United States. This reality can impact jobs and the purchase of new cars.

If an individual must purchase a vehicle, you should consider used vehicles as a financially manageable option. However, if anyone can avoid making major purchases until an inflationary period cools, you would be better positioned to manage the higher tariffs.