You may be noticing price increases on lots of things, but it's hard to grasp how much it's adding up over a year. Try $11,500, on average.
Rising prices are everywhere you look — on the news, at the pump and in the grocery store. We notice these changes when we reach for our wallets, but it’s difficult to grasp what an extra dollar here or several dollars there mean over the course of several weeks, months or an entire year.Rising prices are everywhere you look — on the news, at the pump and in the grocery store.
Household expenditures could rise by $11,500 In all of 2020, American households spent $61,300, on average. This number includes everything we spend our money on: housing, food, entertainment, clothing, transportation and everything else. In 2022, it stands to reach $72,900, a difference of more than $11,500 if consumers want to maintain the same standard of living.
We can all likely agree that $11,500 is a lot more money to spend in a single year, but grasping what big numbers like that mean in practice can be difficult. Per month, you’re looking at close to $1,000 more. For many people, this is an entire extra rent or mortgage payment. Though a recession may sound scary , a downturn may be necessary to get prices under control. And as tough as it is to stomach, that part is a good thing.How to handle high prices and recession talkLook at the big picture As explained above, there is a silver lining to an economic downturn or recession — prices fall.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
13 Lipstick Brands Every Woman Should Try At Least OnceAre you in constant search for the perfect lipstick with no luck? Check out this list to find the best lipsticks on the market
Read more »
Third try at dialysis clinic meddling is just as bad as the first two attemptsOpinion: Third try at dialysis clinic meddling is just as bad as the first two attempts
Read more »
Landlords try to stop rent control initiative in FloridaBallots haven’t even been printed yet, but already a group of landlords, apartment managers and real estate agents in Florida want to stop voters from deciding on a measure that would implement rent control for a year in the theme park hub that has been one of the fastest-growing metro areas in the U.S.
Read more »
Two sisters from Dallas offer an LA space for artists to try new ideasThe Fagadau sisters, who run the 12.26 Gallery in Dallas’ Design District, have opened a new exhibition space in Los Angeles.
Read more »
Alfalfa should be the first crop we try to grow on MarsAccording to a new study, alfalfa sprouts are a contender for the first plants future Mars colonizers could farm.
Read more »
Give Your Style a Worthy Boost; Try Out These Chic Tube Tops | Fashionisers©If there is one trend that we guarantee could be timeless and you will also see everywhere in every season, it's chic tube tops.
Read more »