Nicole Spector

Tue, May 27, 2025, 8:33 AM4 min read

On the campaign trail in 2024, President Donald Trump made a number of promises to the middle class. He promised that, if elected president for a second term, he would ensure the end of inflation, slash energy and electricity bills, and put a temporary cap on credit card interest rates. Trump also promised cheaper groceries; the list goes on.

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We’re not even 150 days into President Trump’s four-year term. It’s far too early to tell whether Trump will succeed in delivering on these promises in full. But at this moment, many middle-class Americans are concerned about life in the U.S. becoming even more expensive. Tariffs, for example, could cost American households $5,200 annually, according to the Center for American Progress.

Putting fear, doubt and even high hopes aside, we must ask: “What can the middle class do right now to thrive in the Trump economy?” Consider the following expert-provided moves to make.

Sean Babin, certified financial planner (CFP), CEO and lead financial advisor at Babin Wealth Management, highlighted the many challenges staring down the middle class right now: Rising home prices, rising childcare costs, rising education costs, rising healthcare costs and rising food costs. It’s a lot to keep up with and can push you into high-interest debt if you’re not amply prepared.

Babin recommended having an emergency fund with at least three to six months’ of living expenses in it. If you can set more aside than that (in a HYSA), absolutely do that. Suze Orman champions an emergency fund that will float you for 12 months.

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After the worst of the pandemic passed, Babin noticed a type of spend-happy FOMO rage among the middle class.

“‘You only live once’ became a rallying cry across America,” Babin said. “After being locked down for over a year, people were eager to make up for lost time, traveling, dining out, splurging on experiences, and buying things they’d long postponed. This wave of so-called ‘revenge spending’ saw many consumers throwing caution to the wind, often spending beyond their means. From blueberries to plane tickets, demand soared, and so did prices. The prevailing mindset was: Put it on the credit card and deal with it later. But as the bills piled up, so did the debt and its consequences are now being felt.”