25 Jul Should we use emergency fund to stock up on tariff products?

Q. Settle an argument. My wife wants to spend money — from our emergency fund — to stock up on massive amounts of certain products we use regularly but she’s convinced they will get way more expensive soon because of tariffs. We do in theory have the space to store these items, but I think it’s a little crazy. I mean, it’s not like during COVID when you couldn’t find toilet paper.
— Husband

A. It’s never fun to fight with a spouse about money.

We hope you can work out some compromise.

First, let’s review the concept of an emergency fund.

No matter what your age or stage of life, the unexpected can happen and money is needed to deal with it, said Claudia Mott, a certified financial planner with Epona Financial Solutions in Basking Ridge.

“Setting aside funds in a high yield savings account or perhaps a ladder of certificates of deposits (CDs) can avoid the need to use a credit card which might come with a high interest rate, sell an investment that could generate taxes or cash out some of a retirement account which may also be a taxable event,” she said.

While there are no hard and fast rules, having three to six months of average living expenses in an emergency fund is often a good goal for a couple with two incomes, Mott said. More might be needed for an individual or someone in retirement.

The tariff picture has been constantly evolving since first being announced on March 12.

While some are in place, many have yet to be finalized making it hard to know exactly what might be impacted, Mott said.

“When it comes to stocking up on items that might be affected, it would be worthwhile to do a bit of research on whether the items would be subject to tariff based on the country of origin,” she said.

For instance, about 99% of the paper products used by American Consumers are manufactured in the United States, according to NC State College of Natural Resources and therefore unlikely to be subject to tariff, Mott noted. Additionally, many of the consumables we import from Canada and Mexico may be covered under the United States-Mexico-Canada Agreement (USMCA) and therefore not in the tariff picture, she said.

It’s also important to understand the shelf life of the products that are being considered beyond the expiration date on a can of soup or a jar of peanut butter, she said. As an example, the cost of electronics from China is likely going to be impacted by the tariffs that are in place currently, but with constant technological change, the product could end up being obsolete before it’s even used, she said.

“As we all learned during COVID, having a bit of extra on hand can be a wise strategy,” she said. “Before going all in on overstocking, please encourage your wife to look into the items she’s concerned about, their source and the tariff status of that is being proposed in relation to them.”

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This story was originally published in July 2025.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.