The Tariffs Are Here: 5 Money Moves for Military Families

New tariffs announced by President Trump took effect this week. While there’s ongoing debate about their long-term economic impact, many economists agree that in the short term, Americans will likely face rising prices on almost everything. For military families, who already juggle unique financial challenges caused by relocations, deployments, and variable spousal income, these increases could hit home quickly.

But let’s face it, you can’t control the economy – you can control your financial plan.  So, here are five smart money moves your military family can make to protect your finances and stay mission-ready:

1. Revisit Your Budget

With prices expected to increase in everyday items like food, household goods, and clothing, now’s the time to take a fresh look at your budget. Start tracking your income and expenses, even for just a month, to spot trends and areas for adjustment.

If you recently received a tax refund, it might be time to update your W-4 and reduce your withholding to bring more money home each month. Combine that with the 2025 military pay raise and recent pay bump for junior enlisted, and you may have newfound financial flexibility.

Our Budget Builder tool is a simple way to create a detailed budget in less than 5 minutes.

2. Substitute, Save, and Stock Up

As prices begin to rise, smart shopping becomes essential. Look for substitutes like domestic brands or alternative products that may be less affected by tariffs. Switching to generic or store-brand options can also deliver significant savings without compromising quality.

If your budget allows, now is a good time to stock up on non-perishable essentials like toiletries, cleaning supplies, and pantry staples before price hikes fully hit the shelves. Don’t forget to leverage military discounts, Exchange price matching, and commissary benefits to get the best value possible.

3. Educate Before You Reallocate

The market has dropped sharply in response to the new tariffs, and it’s natural to feel uneasy when you see your investment accounts lose value. But reacting emotionally, especially by pulling out of long-term investments can often do more harm than good.

Rather than trying to time the market, focus on your overall goals and time horizon. If retirement is years or decades away, your investments still have time to adjust and grow. If you’re closer to retirement, or spending down your investments, then this may be a good moment to evaluate your portfolio allocation and ensure your risk level matches your comfort and needs.

Our learning guide on investments can help break down popular investment strategies.

4. Make Smart Moves on Big Purchases

If you’ve been saving for a big-ticket item like a car or appliance and have been waiting on the sidelines this may be the time to act. With prices expected to rise in the coming weeks due to tariffs, making a well-planned major purchase now could save you money.

That said, don’t rush into a decision just to beat the price hikes. Make sure the purchase fits within your budget, your current needs, and your financial goals. Shop around, look for military discounts, and consider pre-owned or domestic alternatives when appropriate.

5. Focus on Long-Term Planning

Times of economic uncertainty serve as a reminder to focus on the bigger picture. Whether you’re staying active duty, transitioning to civilian life, or considering the Guard or Reserves, make sure your financial strategy includes career planning, smart use of bonuses or special pays, and investing in your future.

Use tools like the Blended Retirement System (BRS), Savings Deposit Program, and the GI Bill to help build a solid long-term financial foundation for your family.

The USAA Educational Foundation is a nonprofit, tax-exempt IRS 501(c)(3) and cannot endorse or promote any commercial supplier, product, or service. The content of this blog is intended for information purposes only and does not constitute legal, tax, or financial advice.