Former President Donald Trump has won the U.S. presidential election, according to NBC News.

After months on the campaign trail, Trump and running mate J.D. Vance now turn toward enacting the policy agenda they proposed to voters with the help of a Congress that is likely to skew Republican.

The Trump administration inherits an electorate anxious not only about the election itself but also about the candidates' potential impact on the issues that affect their personal finances. Some 57% of investors reported angst or fear surrounding the race's outcome, according to a recent survey from Betterment, with inflation, tax increases and a potential recession among their most common worries.

A president can't unilaterally enact a legislative agenda on Day 1, even with a supportive legislature. Nevertheless, here are three policies Trump has put forward that could affect your money if they become a reality.

An extension of the 2017 tax cuts and possible tax-code overhaul

Trump will look to preserve the tax cuts passed in the 2017 Tax Cuts and Jobs Act, currently set to expire at the end of 2025. Beyond that, Trump plans to enact a sweeping tax overhaul, including breaks for roughly 93 million Americans.

The President-elect officially proposed eliminating income tax on tips, overtime pay and Social Security benefits, and has floated the idea of exemptions for firefighters, police officers, military personnel and veterans.

Trump has expressed skepticism over federal income tax in general, and has proposed transitioning to a system funded by tariffs.

Tariffs could mean higher prices on imports

Trump has proposed a 10% or 20% universal tariff on all imports with higher rates — up to 60% or 100%, he's said on some occasions, on goods from China and Mexico. Trump has characterized the plan as a way to extract money from rival nations.

"Other countries are going to, finally, after 75 years, pay us back for all that we've done for the world," he said at September's presidential debate.

While a tariff is a tax on imports, it's paid by importing companies, rather than the exporting countries. Because companies often pass the costs along, economists tend to agree that tariffs amount to an eventual tax on the consumer.

"Ultimately, the cost of tariffs will be paid by us, the consumer," George Ball, chairman of investment management firm Sanders Morris, told CNBC Make It. "They'll be buying things at higher prices than they otherwise would."

Less regulation for crypto

Although Trump and Vice President Kamala Harris each made support for digital currencies part of their platforms, Trump was seen as the more pro-crypto candidate. He touted plans on the campaign trail to make the U.S. the "crypto capital of the planet" and a "bitcoin superpower."

In a September note, Standard Chartered analyst Geoff Kendrick predicted a crypto breakout in the event of either candidate winning — with a bigger boost for Trump, who is seen by investors as likelier to ease regulation on digital assets.  

"BTC will end 2024 at fresh all-time highs under either election outcome — [circa] $125,000 level under Trump or [circa] $75,000 level under Harris," Kendrick wrote. Bitcoin traded roughly 7% higher on Wednesday morning following news of Trump's victory, and currently sits at $75,000.

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