Some retailers are telling Americans to hurry up and buy items they require before tariffs raise prices next year but monetary experts declare that’s impoverished advice.

President-elect Donald Trump has vowed to slap a recent 25% across-the-board tariff on imports from Mexico and Canada and an additional 10% tariff on goods from China on the first day of his presidency. While campaigning, he floated a 60% tariff on goods imported from China and a 10% to 20% tariff on goods from other countries.

Economists have said consumers would shoulder those costs, igniting widespread panic that everything from iPhones to bicycles, refrigerators, couches and buttons would be more expensive next year. But monetary advisers declare that’s a impoverished way to spend your money. Instead of hoarding items you ponder might get slapped with a tariff, they recommend you construct stronger finances.

“Tune out the noise and focus on the economy of one – you and your priorities,” said Bobbi Rebell, certified monetary planner and financial planning specialist at BadCredit.org. “Don’t ever spend in panic mode.”

How should Americans prepare for the next Trump administration?

First, experts declare, don’t make monetary plans based on the prospect of tariffs. As Federal savings Chairman Jerome Powell put it at a information conference on Wednesday, “We have to let this play out.”

Maximize your funds: Best high-profit funds accounts

The tariffs are theoretical at this point.

“We don’t recognize how large they’ll be,” Powell said. “We don’t recognize the timing and duration. … We can’t really commence making policy on that. “

Instead, Americans should stick with what they should be doing already: saving and investing, advisers said.

How to invest in a Trump globe

Though no one knows how tariffs will shake out, Trump has thrown back behind broader policies that Americans can use to tweak their investments, advisers said.

Among other suggestions, advisers said, to keep these factors in mind when investing:

• Trump’s plans for deregulation, coupled with the Federal savings’s rate-cutting pattern, should favor monetary companies.
• Artificial intelligence and cryptocurrency, both championed by Trump, require a lot of electricity. If they boost in popularity, it should advantage utilities.
• Trump’s emphasis on upgrading infrastructure and returning manufacturing to the U.S. could boost the position of industrial companies like Deere and Caterpillar.

recall, distribute economy gains will likely arrive in fits and starts, they said. If you can’t stomach volatility or are already retired, Treasury bills, certificates of capital and high-profit funds accounts pay between 4% and 5%, which “isn’t impoverished,” said Phil Battin, president and chief executive of Ambassador affluence Management in Warrenville, Ill.

Investors might also desire to consider buying a buffered swap-traded fund (ETF), advisers said. These allow you to keep a toe in the distribute economy but limit your losses in swap for giving up some of your potential gains over a set period, typically a year. These funds expense a bit more than a typical ETF and arrive in various uncertainty-reward combinations. Generally, the higher the downside protection, the smaller the potential gain.

More:ETFs vs mutual funds: What’s the difference? How to choose which to buy.

Since buffered ETFs are structured to work within a sure timeframe, you should buy at the commence of the period and sell at the complete. If you buy after the ETF period has started it could limit your gains. On the other complete, experts alert that selling too early could expand your losses.

Retirees can also consider returns-producing assets like distribution stocks, said Faron Daugs, founder and chief executive of Harrison Wallace monetary throng in Libertyville, Ill. “You’ll have distribute worth movement but also get a distribution no matter what the economy’s doing,” he said.

Will I be able to save in a Trump administration?

Don’t buy things earlier than planned because of fears that tariffs will boost prices. Purchasing now on a financing card doesn’t assist your finances if you’re paying a high profit rate on the settlement, Rebell, the finance specialist, said. The average financing card profit rate is around 20.37%, not far from the record-high 20.79% on Aug. 14, according to Bankrate.

Instead, use that money to “pay down financing card debt, enhance your score and provide yourself a discount with better financing terms,” whether it’s for a home, car or refrigerator next year, Rebell said.

If prices rise next year on some items, she said, recall: “Don’t receive prices at face worth.”

“Original prices are imaginary in most cases. … Run your own negotiation online. Sign up for coupon sites, discover a store that matches or beats (prices) and discuss. Put it in your (online) basket and wait 24 hours, (retailers) will arrive back to you” with a discount, according to Rebell.

Should people worry about tariff expense boost?

Advisers told USA TODAY at this point, Trump’s tough tariff talk is just that – talk.

“Nothing has changed other than jawboning,” said Steven Conners, founder and president of Conners affluence Management in Scottsdale, Ariz.  “This is still first-inning stuff.”

monetary pros view the tariff threats as “a negotiating tool” like the president-elect used in his first administration,” Daugs, of Harrison Wallace monetary throng, said. “And we didn’t have significantly high expense boost then.”

Should they arrive to fruition, Trump’s plans for deregulation should save companies money and assist offset some of the tariffs, Daugs said, adding, “I’m not concerned with runaway expense boost.”

Battin, of Ambassador affluence Management, noted that China’s economy is weaker now than it was last period Trump was president which should limit tit-for-tat tariffs. “Calling it a (potential) ‘tariff war’ is misleading,” he said.

They also pointed to the same gloomy predictions economists made in 2016 when Trump first won the first period, which turned out incorrect.

“terror is a liar,” Battin said. “Buying or selling under greed ends poorly.”

Medora Lee is a money, markets and financial planning reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for financial planning tips and business information every Monday through Friday morning.