The Cut: Panic at the Grocery Store
EXCERPT OF AN ARTICLE BY charlotte Cowles, ORIGINALLY PUBLISHED IN the cut on april 2, 2026
Excerpt: When I reached out to financial experts about what they recommended doing (or not doing) right now, they generally agreed that there’s no good answer — a strong financial plan should be roughly the same no matter what’s happening in the world. “If you’ve got a solid budget and savings plan in place, stay the course,” says Rivera. “If not, let this be the encouragement you need to make one.”
It might feel dumb to focus on your finances when World War III seems imminent, but remember that financial security enables you to take care of others, too, says Georgia Lee Hussey, a certified financial planner and founder of Modernist Financial. “Generosity is one of the best antidotes to anxiety, but it’s a lot harder to help others if you’re struggling to make ends meet,” she says. For starters, if you can spare any money, she recommends donating to local food banks; if you can spare time, volunteer for them.
Meanwhile, do the stuff you know you should anyway: Review your spending, make sure you have some cash saved, work on paying down high-interest debt, automate contributions to your retirement accounts, and invest in a well-diversified portfolio that includes both U.S. and international companies. “It sounds boring, and maybe you’ll hear about quicker fixes that seem tempting, but the boring stuff is what works,” says Hussey. “My rule of thumb is, if it sounds exciting, you’re probably doing it wrong.”
While you’re at it, review your worst-case-scenario contingencies. If a recession hits and you get laid off, what could you do? How long could you go without a salary? “Create a written plan for steps to take if you experience some kind of major financial setback,” says Hussey. (Writing makes it more concrete and helps you share it with others who might be involved.) Hers includes a list of nonessential expenses she could cut immediately; she also recommends securing a zero-interest credit card or line of credit, which you hopefully won’t need but will be glad to have if you do. (If you sense that your job might be vulnerable, do that now — you’ll have a better chance of getting approved for a line of credit while you’re employed.) Polish your résumé, keep your ear to the ground, and make sure your references are up to date so that you can hit the job hunt running if you need to.
When I asked if there’s anything we should buy right now, before prices get even worse, everyone agreed that hoarding is rarely worth it. “It’s a complicated time to be a consumer,” says Hussey. “I’d definitely cut back on unnecessary travel if you can, especially now that gas prices are so high.” That said, if you have any big expenses coming up in the next year, start budgeting for them now. Do you have any weddings to go to? Family trips or visits? Is your computer, phone, or car about to die? Do you anticipate moving? It’s not too soon to research prices and set money aside.
