Living for today - Planning for Tomorrow
It used to be a simple truth: buying a used car was the smart move. You’d dodge the steep depreciation that hits new cars the moment they roll off the lot, and you’d walk away with a decent ride for thousands less. But in 2025, that logic doesn’t hold up like it once did. With rising demand, lower inventory, and inflated prices, the used car
The 1970s was a rough decade for Americans financially. Families had to contend with two recessions, multiple oil crises, and widespread inflation. Unfortunately, households didn’t get any reprieve at the end of the decade. The cost of living in 1978 shot up yet again due to the second oil shock of the 70s. To understand this financially challenging time, let’s take a closer look at
The 1920s, also known as “The Roaring Twenties,” was a decade marked by significant economic growth and social change. However, the decade got off to a rocky economic start. The cost of living in 1920 was high due to the inflation America experienced during the war. The rising cost of necessities like food, fuel, and housing likely put financial pressure on American families. To make
The COVID-19 pandemic isn’t the only time Americans have had to endure sudden price increases. Similarly, the cost of living in 1917 surged due to World War I. From December 1916 to June 1920, prices increased at an 18.5% annualized rate according to the Bureau of Labor Statistics. Food, clothing, and other essential goods all became more expensive and harder for the average family to
The 1950s are remembered fondly as a simple, nostalgic time in American history. After the war, the economy boomed and allowed the average family to enjoy relative economic prosperity. However, Americans still had to work hard to afford the cost of living in 1957 and save up for major purchases like homes and cars. Let’s take a closer look at how households spent their money
In 1962, the Beatles released their first single in the UK and Spider-Man made his debut in the Amazing Fantasy #15 comic. It’s hard to believe that over 60 years have passed since that important time in history! A lot has changed since then, including the price of consumer goods. The cost of living in 1962 was much lower than it is today. Believe it
Recently I learned about a phenomenon called stealth inflation. It’s a type of inflation that happens when businesses add fees to their products and services to help maintain their profit margins. Resort fees at hotels and service fees on food delivery orders are two examples of stealth inflation. It’s estimated that Americans pay $65 billion in fees every year. So learning how to spot and
Inflation reached a 40-year high in May of 8.6%. The price of food is up 10.8% and gas costs an average of $4.88 a gallon. These drastic price increases have caused many Americans to feel financially strained. I’ve been finding it hard to stick to the budget I created two years ago. If you’re frequently going over your budget too, it may be time to
In May, inflation hit a 40-year high of 8.6%. The cost of essentials like gas and groceries has risen sharply, so we’re all losing purchasing power and feeling the pinch. This high-inflation environment is also eroding the value of our savings. Bank accounts don’t offer enough interest to outpace inflation, so we’re effectively losing money by parking our cash in savings accounts. With economists predicting
If you’ve noticed that you’re spending more than ever on gas and groceries, you’re not alone. Over the past year, consumer prices have increased by 5.4%. Annual inflation usually sits at around 2%, so this is a big change for all of our budgets. Although wages have been increasing in many industries due to labor shortages, experts say that they may not be rising fast
