Trump Goes Into Office Today!

Assalamu Alaikum, girlie! 🌸

It’s finally here—today, January 20th, 2025, Donald Trump will be officially inaugurated as President. 🇺🇸 

Whether you’re feeling optimistic, uncertain, or neutral about it, I want you to take a moment and remember this:

Your financial future is not defined by who's in office.

Yes, the political landscape may shift, and some policies may impact the economy, but you still have more control over your plans than any president—and ultimately Allah is Ar-Razzaq. 💫

The Trump administration has outlined several economic policies that could impact everyday Americans. Let's break down what you need to know to navigate these changes effectively!

Take a deep breath and grab your cup of coffee.☕️

✨ Key Policies Under Trump’s Administration

1. Potential Tariff Increases 🛍️

   President Trump has proposed implementing tariffs on imports from countries like China, Mexico, Canada, and some in Europe. These tariffs aim to protect American industries and increase production in the US but it may lead to higher prices for consumers (especially for foreign goods). For instance, Costco's CFO, Gary Millerchip, warned that these tariffs could result in increased costs for retailers and, consequently, higher prices for shoppers. [source: NY Post]

   It’s also possible that tariffs could encourage domestic

   What This Means for You: If a business has to spend more money to deliver a product, you’re paying for that increase! This means there could be potential price hikes on goods like electronics and household items. Don’t freak out yet, these are just predictions so keep a close eye on your budget.

2. Changes in Tax Policies 💰

   As part of his ongoing agenda, Trump has pushed for making his 2017 tax cuts permanent. This could mean lower tax rates for individuals and businesses.

   What This Means for You: For most of us, this could translate into continued lower tax rates on income and investments, which could reduce your overall tax burden. If these cuts are made permanent, it might result in a bit more disposable income for you to use toward your goals (yay!).

   However, with any tax cuts, there may be long-term effects on government spending and debt, unless serious efforts are made to rebalance the budget. s/n Maybe congress should sign up to Finance Girlie. I could help them😏

3. Focus on Domestic Manufacturing 🏭

   The administration plans to invest in domestic manufacturing, with initiatives like the bipartisan Ships for America Act, which aims to revitalize the U.S. shipping industry. [source: Financial Times]

   What This Means for You: Increased investment in domestic industries could create more job opportunities and strengthen the U.S. economy. If you're considering career changes or job opportunities, this might be a sector to watch.

4. Immigration Plans – The Potential Economic Impact 🌍

   Trump has promised to carry out the largest mass deportation effort in U.S. history no matter the cost! This aims to reduce the number of immigrants entering the U.S., and deporting those who are already here (especially the criminals) and may impact industries that rely heavily on immigrant labor, such as agriculture, construction, and service industries. [Source: Foreign Policy]

   What This Means for You: While this may greatly benefit national security and ‘America-first’ initiatives, it could lead to labor shortages in sectors which are depend on immigrant workers. As a result, prices prices for goods and services in such areas may increase.

Financial Mistakes You Shouldn’t Make 🚫

1. Don’t Speculate with Your Investments 📉
We all know that financial markets tend to react strongly to political events, but that doesn’t mean you should jump into short-term investments based on speculation. Trust the process and stick to your long-term plan. The political environment will change, but your goals don’t have to.

2. Avoid Fear-Based Financial Decisions 💔
We’ve seen many fall into the trap of making decisions driven by fear—whether it’s withdrawing investments in response to market swings or avoiding financial opportunities due to uncertainty. None of these are predictions guaranteed to happen: the policies could play differently. So as you plan for the future, act based on facts- not speculation.

3. Don't Let Changes to Tax Policy Catch You Off Guard 🧾
With tax policies shifting, it’s easy to feel overwhelmed. But the truth is, a little planning can go a long way. Stay updated on changes to tax brackets, deductions, and credits. Adjust your withholdings if you’ve been receiving too large of a refund and don’t want to overpay this year.

So, What Should You Do Now? 📅

Now is the time to focus on what’s in your control. Here’s how to make 2025 your most intentional year yet:

1. Create a Budget – Establish a clear, purpose-driven budget. Set your goals and make sure your plan is aligned with your values.

2. Maximize Your Tax Strategy – Review the latest tax laws, adjust your withholdings, and meet with a tax professional to optimize your return. Don’t let tax season pass you by!

3. Stay Calm and Trust Allah – Political changes happen, but your financial success is not dependent on who’s in office. The best thing you can do is make decisions based on your faith, your goals, and sound advice.

Remember, sis, you have more control over your financial future than anyone in the White House. Keep your eyes focused on your goals and continue taking action. Whatever policies get rolled out, always know that your rizq is already written, and Allah is the best of planners.✨

Take action with faith and intentionality this year.

Stay safe,

Fatimah ✨ 

Founder, Finance Girlie