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Entries in Expenses (2)

Friday
Dec282012

Eight Things That Will Cost More in 2013

George Doyle/Stockbyte(NEW YORK) -- Happy New Year! Your life just got more expensive.

While Congress frets over the looming fiscal cliff and taxpayers brace themselves for higher tax rates, consumers should prepare for certain goods to become pricier in 2013.

Groceries, fuel-efficient cars and health care are all expected to get a little more costly next year, according to Dealnews.

But, there might be an alternative for some purchases.

“The easiest way to dodge some of these rising costs is to buy used,” Dan de Grandpre, CEO of Dealnews.com, told ABC News.

“A used car may not get as good mileage as a new one, but you’ll never save enough money at the pump to offset the money you’ll save buying used. Consider a used or refurbished iPhone 4 or 4S for the same reasons,” said Grandpre. “Not only will you dodge the full price of a newer iPhone, but you’ll be able to use older cables and speaker docks that are hitting their best prices in history as manufacturers move to Apple’s newer Lightning connector.”

Here’s a look at a few of the items compiled by DealNews that will increase at the beginning of the year:

Fuel Efficiency Ratchets Up the Cost of Cars

The price of engines is expected to drive up the cost of fuel-efficient vehicles, according to Dealnews.  Consumers can expect to see an increase in prices for the Toyota Camry and Lexus CT. The Camry is expected to receive a $175 price hike, compared to the previous year, and buyers can expect to pay $3,000 more for the 2013 Lexus CT 200h.

Grocery Prices to Increase by as Much as 4 Percent

Last summer’s drought is expected to effect the price tag of meat, poultry and dairy. Cereal and bakery products will cost more next year as a result of the drought. According to Dealnews, food prices are expected to rise 3.5 percent to 4 percent in 2013.

Health Care Premiums on the Rise

Employers are expected to pass along the cost of higher premiums in the New Year. Health care premiums are expected to rise to 6.3 percent in 2013, up from 5.7 percent, according to Aon Hewitt, a human resource consulting firm. According to Aon Hewitt, Philadelphia area residents will shell out close to $13,000 on average in health care costs.

High-End TVs and Home Theater Systems

According to Dealnews, Ultra HD TVs with their high pixel density already sell for $20,000 to $25,000 and that may go up. High-end audio manufacturers will raise prices too, “as they incorporate premium features like Apple Airplay or standard DLNA that lets users control the entire system wirelessly. These features can drive up the cost of AV equipment in an instant.”

Computers Push High-End Features

The increasing popularity of tablet computers is bad news for the personal computer industry and likely means PCs will go up in price.

Copper Will Be in Demand and Beer Prices Will Suffer

The metal used in water pipes, pots, kettles and equipment for making beer could see price spikes after the SEC approved a fund to trade the metal. As a result, consumers may see the price of beer, candy and other liquors increase in the new year.

Say Goodbye to Subsidies for Smartphones

T-Mobile has already announced its decision to bid adieu to its smartphone subsidies. Instead, the mobile company will charge customers an upfront fee and bill them in monthly installments for the remaining balance in 2013.  But it’s often cheaper to pay for the phone than get hit with much higher monthly rates at carriers that bundle in the price of the phone.

Tuition Goes Up as States Cut College Subsidies

Each year, tuition rises well ahead of inflation, which has been running at less than 3 percent.  In 2013,  in-state tuition at public colleges will rise to 4.8 percent, according to the College Board Advocacy & Policy Center.

Copyright 2012 ABC News Radio

Thursday
Jun232011

Average Wedding Cost Drops to $26,501

Comstock/Thinkstock(NEW YORK) -- Though June, one of the most popular months for weddings, is nearing its end, the summer wedding season is far from over.  And as couples tie the knot this year, they appear to be doing more with less.

The average wedding cost dipped to $26,501 in 2011, according to Brides magazine's 2011 American Wedding Study.  In 2009, the last time the survey was published, the cost of a wedding was $28,082.

This wasn't a scientific survey of all American weddings.  The 2,985 respondents to the survey were women 18 and over, engaged or married within the year who responded between April 15 and April 28.  Those surveyed visited Brides.com or were Brides magazine subscribers.

Brides and grooms who are nervous about the shaky economy are breaking traditions and spending less on their engagement events and wedding day.

Despite some signs of a modest economic recovery, many couples may still not feel confident about their financial situation.  And many are opting to spend or give their money in other places.

Sally Kilbridge, deputy editor of Brides magazine, said most couples start to determine their wedding budget just after they get engaged.

"Since wedding budgets are set very early in the game, that decrease in the cost of weddings for 2011 actually reflects a decrease in what people were budgeting 18 months earlier, when the economic recovery hadn't taken hold," she said.  "Having said that, couples are a lot more thoughtful today about how they're spending their money -- when you're not sure about your job and your future, you're much less likely to go into debt."

Take the engagement, for example.  The average cost of an engagement ring is $4,647, down 27 percent from 2009, the last time the magazine conducted the survey.

Copyright 2011 ABC News Radio







ABC News Radio