What does the news mean for your wallet each day? Sign up for Personal Finance Daily to find out. Worried about the best ways to make, protect and invest your money? MarketWatch is here to help. On Tuesday, and peppered among many of the more amusing memes were practical suggestions about canceling expensive subscriptions such as cable in order to save money, or working on improving your credit score on your own rather than hiring a pricey credit repair service. The hashtag #WhatNotToBuy was also trending on Twitter Read more: Google’s 2021 Year in Search: AMC and GME stocks, Dogecoin, stimulus checks and shortages dominated queries 10, and searches for “inflation” and “price” reached all-time highs in the U.S. So it’s not too surprising that “Why is everything so expensive” was among the top five most-Googled “why is … so expensive” questions in the U.S. The consumer price index also spiked last month to push the increase in the cost of living to the fastest rate in 39 years.
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Related: Household electricity and gas bills are on the rise - here’s how to reduce your monthly costsĪnd this has been a common refrain in conversation both on and offline of late as the increase in wholesale prices rose to 9.6% this year the fastest pace wholesale inflation has risen in 40 years, although it should be noted the index was recalculated in 2014 using different methodology. For gas, that’s the largest annual increase since around 2008, and for electricity, it’s the largest since 2009. Many Redditors also highlighted popular consumer products and everyday staples such as gasoline to fuel cars (and the cost of cars, themselves), grooming products like razors, bras and household utilities such as internet and electricity for costing way too much right now. In fact, compared to last November, Americans are paying 25.1% and 6.5% more for gas utilities and electricity, according to data from the Bureau of Labor Statistics. “I’m seriously trying to help myself so I can be a good mother and wife, and it’s going to cost me like $900 to get the diagnosis I probably need to move forward? Mental,” wrote another. “I didn’t ask for the trauma,” noted one reader. And prior to COVID-19, overdose deaths were already rising for more than two decades. topped 100,000 in just one year during the pandemic. Several people pointed out that mental health care is often too expensive, as well, which is particularly problematic during a two-year pandemic that has seen depressive and anxiety symptoms in young people doubling, according to a recent Surgeon General report. Another noted they had “easily put a good 10 grand in my mouth” taking care of their teeth. I just want to f-ing see,” wrote one person. The price of life-saving EpiPens for those with severe allergies was another common complaint, as well as the cost of healthcare in general - particularly dental work and eyeglasses, which are often not covered by basic health insurance in the U.S. “Insulin,” noted another - one of many Reddit users (aka Redditors) listing the high price of treating their diabetes as an expense hitting them especially hard right now. Read more: ‘Higher interest rates in 2022 will put a damper on housing affordability’: Home builder confidence hits highest level since February
“To buy an apartment in my country you need to win 2-4 game shows,” wrote one user who claimed to be from Israel. and Australia also said that buying homes in those countries was out of their reach. The prices are ridiculous,” wrote one Redditor in a comment upvoted more than 1,000 times.Īnd it wasn’t just Americans griping about the housing market.
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