Category: Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
Economic News
Economic News
GasBuddy: Fuel Prices Expected to Rise For Several More Months
With 2022 about to get underway, there have been several predictions about what the new year will bring. Among them is a forecast that gas prices will get worse overall before they get better. According to data from GasBuddy (as reported by CNN Business), it is expected that the average price per gallon of gas will reach $3.41 in 2022 compared to a $3.04 average this year. Moreover, the site...
Economic News
Consumer Price Index Sees Largest 12 Month Increase in 30+ Years
Amid the United States' continued efforts to recover from the pandemic and get Americans back to work, one of the biggest economic stories in recent months has involved inflation. Anecdotally, many consumers have reported seeing prices on essentials rise, impacting their personal finances. Now, the Bureau of Labor Statistics' October Consumer Price Index shows that prices are not only increasing but are doing so at levels not seen in three...
Economic News
IRS Increases 401(k) Contribution Limit for 2022 Tax Year
As the new year approaches, the Internal Revenue Service (IRS) has announced some changes to its retirement account contribution limits as part of its regular cost‑of‑living adjustments. Most notably, this includes an increase in the total amount employees can contribute to their 401(k) during the tax year. Additionally, income limits for IRAs and the Saver's Credit have been adjusted upwards as well. Next year, the employee contribution limit for 401(k)...
Economic News
Gas Prices Continue to Rise Nationally as Oil Prices Surge
Oftentimes, when the autumn season starts, motorists may notice that gasoline prices fall along with the leaves and temperatures. Unfortunately, this year seems to be bucking that trend. Instead, despite the summer road trip season ending, gas prices continue to inch upwards. According to data from the app GasBuddy (which includes price reports from more than 150,000 stations), the national average for gas rose to $3.25 per gallon this week....
Economic News
Millions of Americans Expecting to Purchase Vehicles This Labor Day
Like many American holidays, Labor Day is often tied to various sales at numerous retailers. In particular, the September date has long been associated with auto sales as dealerships look to offload the current year models ahead of new arrivals. Sure enough, a survey from the personal finance site WalletHub finds that a large number of consumers will be looking to buy vehicles this holiday weekend. Extrapolating the survey's findings,...
Economic News
GasBuddy Data Shows Gas Prices Continue to Rise Nationwide
With more Americans hitting the road once again, motorists may be noticing rising gasoline prices. In fact, new data from the gas price tracking tool GasBuddy shows that the average price at the pump increased yet again last week. According to the latest figures compiled by the app (using data collected from more than 150,000 stations across the nation), the average gas price climbed to $3.18 per gallon. With this...
Economic News
