Bracing for a Recession: How Renters Can Stay Financially Resilient Amid DOGE Cuts and Tariff Increases

Recent budget cuts from the Department of Government Efficiency (DOGE) and rising tariffs are creating uncertainty in the economy. As the cost of goods and services climbs, renters may feel the squeeze more than ever. Preparing now can help reduce stress later and ensure housing stability. Here's how renters can proactively protect themselves during a potential recession:

1. Reevaluate Your Budget

Take a fresh look at your income and expenses. Identify areas where you can cut back—like streaming services, takeout, or subscriptions—and redirect those savings toward essentials like rent, food, and utilities.

2. Build or Strengthen Your Emergency Fund

Even small contributions to a savings account can add up. Aim to build a reserve that can cover at least one month of rent and basic expenses in case of job loss or other emergencies.

3. Talk to Your Property Manager Early

If you anticipate financial difficulties, don’t wait. Reach out to your property management company to discuss your situation. At idBliss Property Group, we encourage open communication and can explore flexible solutions or connect you with local assistance programs.

4. Explore Adding a Roommate

Consider sharing your rental space to reduce living expenses. Check your lease agreement first, and if permitted, ask your property manager about the process for adding a roommate. All new occupants must typically be approved through tenant screening.

5. Use State and Local Assistance Programs

Maryland offers several aid programs for renters, including:

• Emergency Rental Assistance

• Utility Assistance

• Food Access and Healthcare SupportVisit Maryland.gov or contact local housing agencies to learn what resources you may qualify for.

6. Avoid High-Interest Debt

Try not to rely on credit cards or payday loans for basic needs. If you have existing debt, explore consolidation or low-interest repayment plans that ease your monthly burden.

At idBliss Property Group, we understand that economic uncertainty can be stressful. We’re here to support you with compassionate service, clear communication, and practical solutions to help you stay housed and secure—no matter the economic climate.