Skip to Main Content

6 ways Trump may affect your wallet

Donald Trump and your wallet | Christopher Halloran/

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

Donald Trump may already have had an impact on your money, just not in ways some had predicted.

Experts warned a Trump presidential election victory would cause the stock market to immediately plunge. Instead, a Trump rally set in with the Dow Jones Industrial Average up more than 8 percent since Election Day.

Predicting the long-term personal finance implications of a Trump presidency may prove just as difficult. We just don’t know how effective the businessman-turned-politician will be in converting his campaign pledges into reality.

But if put in motion, President Trump’s plans could save you — or cost you — many thousands of dollars.

With Republicans controlling both houses of Congress, Trump should be able to push through major policy initiatives – from tax relief to health care reform – that were central to his campaign.

That doesn’t mean lawmakers will merely rubber stamp the new president’s ideas. Trump has, in fact, adopted some positions, like paid maternity leave, that are at odds with GOP beliefs.

Here are six ways Trump’s presidency could impact your wallet.

RATE SEARCH: Refinance your mortgage today before interest rates rise.