Latest news with #ConsumerPriceIndexforAllUrbanConsumers
Yahoo
19-05-2025
- Business
- Yahoo
Trash collection fees to increase residential utility bills starting July 1
May 19—Utility bills in Newton will see an increase on July 1. The Newton City Council this past month approved a new fee schedule for solid waste and recycling collection following a new contract with Dodd's Trash Hauling and Recycling. The increase amounts to $3.39 per month for each household in town. Earlier this year, the city distributed requests for proposals to waste management companies, seeking bids for collections services consistent with the existing contract. Three businesses reached out to the city, including local provider Dodd's Trash Hauling and Recycling, which was the clear favorite. Back then it was noted a new contract would result in higher rates for residents no matter which waste management company was chosen. Currently, residents pay $15.16 per month for waste collection services. The new contract would increase that monthly rate for residential units to $18.55 per month. Included in the new five-year contract with Dodd's is an annual rate adjustment tied to the Consumer Price Index for All Urban Consumers (CPI-U). The rate covers solid waste and recycling, landfill tipping fees, recycling tipping fees, leaf bag collection and Christmas tree collection.
Yahoo
09-05-2025
- Business
- Yahoo
The ‘I'll Buy It If' Money Challenge Can Save You From Inflated Prices
Keeping your finances in check can be difficult, especially with persistent inflation and rising costs. Finding tips and tricks to limit your spending and help you become a smarter shopper can be just as fun as it is useful. Read Next: Check Out: Recently, a new TikTok trend has had buyers playing a fun game that also benefits them financially. When most people go shopping, they probably riffle through several steps before buying something without even realizing it. First, they see something they like. Then, they move in to check it out and check the price. Then, they weigh the pros and cons of paying that amount. It's a normal process, but according to some TikTokers, there may be a better way. The 'I'll Buy It If' trend has TikTok users setting spending limits before considering buying an item. For example, a shopper might see a vase on the shelf and decide that it's worth $20 to them. Then, they look at that item more closely and reveal how much it actually costs. If the vase is under $20, they can buy it. Explore More: Trends like 'I'll Buy It If' make it cool for young shoppers to think about their spending habits, which translates to better financial practices. When you start assigning a monetary value to items before the actual costs influence you, you'll have a better idea of how much you want something. Taking the time to assess the item's value will cut down on your emotional spending and buyer's remorse. This practice also helps shoppers deal with higher prices caused by inflation. The Consumer Price Index for All Urban Consumers measures how inflation changes prices across the U.S. From March 2024 to March 2025, for instance, prices increased by 2.4%. But the TikTok challenge can help anchor the way you personally value goods, even if prices jump. If you see a pair of sandals that would be great for the summer, you'll be less likely to buy them at a high price if you take the time to think about what they're worth to you beforehand. The 'I'll Buy It If' trend can encourage mindful spending and help you save more than you otherwise would, but there are some pitfalls to avoid. If you continually overvalue items, you might buy everything you see. At the end of 2024, credit card debt was up 4% compared to a year earlier. Just because you assign a number to an item before you check it out shouldn't mean it's then acceptable to rack up debt for that purchase. TikTok trends can be a fun way to interact with a community and show off how you shop, but this can also cause you to buy unnecessary items. By adding a camera to the equation, you might be more likely to make a purchase just to get a slew of likes, follows and comments. It's best to keep the big picture in mind and remember that you're trying to limit your spending to improve your financial future. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines This article originally appeared on The 'I'll Buy It If' Money Challenge Can Save You From Inflated Prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Newsweek
30-04-2025
- Automotive
- Newsweek
Americans Would Pay More to Own Cars Under Republican Proposal
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Republicans serving on the House Transportation Committee on Tuesday unveiled a new spending bill, which, if passed, would implement an annual fee of $20 for most car owners. Why It Matters The GOP bill would shape the federal government's funding of transportation programs while cutting key initiatives designed to combat climate change. The new annual fee would provide more revenue for the Federal Highway Administration, which oversees construction and maintenance of the country's highway system. What To Know The bill would require a $20 fee for any "covered motor vehicle" that is not an electric or hybrid. Americans who own those would be required to pay $200 or $100, respectively. Any state that does not comply would lose some federal funding. The fees will be increased "on an annual basis to account for the rate of inflation each fiscal year in accordance with the Consumer Price Index for All Urban Consumers of the Bureau of Labor Statistics" if signed into law. Gridlock snarls I-5 in Los Angeles on November 23, 2022. Gridlock snarls I-5 in Los Angeles on November 23, measure would take effect in October 2031, according to the bill. It would raise $50 billion for highway repairs within 10 years, reported Reuters. House Transportation Committee Chairman Representative Sam Graves, a Missouri Republican, explained during a hearing Tuesday morning why the committee believes the fee is necessary. "Let me be clear. Republicans support investing in infrastructure, but our highway funding system is founded upon the principle that roadway users must pay for their use of the system. Failing to restructure our surface transportation funding sources will have severe consequences for our nation's transportation system and the American people," Graves said. He continued, "That is why tomorrow, as part of reconciliation, the committee will take the first step towards [Highway Trust Fund] solvency and stability. We will vote on a proposal to leverage existing state vehicle registration systems and assess a new fee of $200 on electric vehicles (EVs), $100 on hybrid vehicles and a $20 fee on most other passenger vehicles. If successful, these new user fees would represent the first new funding streams into the Highway Trust Fund in more than 30 years." When reached by Newsweek for further comment, a committee spokesperson pointed to Graves' earlier statement. At the moment, the fund is financed primarily through fuel taxes, which EV owners don't pay. What People Are Saying Representative David Rouser, North Carolina Republican who serves as highways and transit subcommittee chairman, said during the hearing: "Without a serious solution, our state, local, and private sector partners risk losing a reliable funding source critical to project delivery and our national economy. While General Fund bailouts have offered short-term relief at the expense of the individual American taxpayer, they do not address the long-term challenges that plague the Highway Trust Fund." Conservative radio host Dana Loesch wrote on X: "This is the proposal that @chiproytx just told me about on air. It is one of the stupidest, big gov proposals (next to expanding welfare to pay women to have babies instead of just cutting taxes and regs) that I've seen in recent years." What Happens Next The bill will be considered by the GOP-controlled House of Representatives. It's unclear if it has enough support to pass.
Yahoo
31-03-2025
- Business
- Yahoo
How Much Should You Add to Your Emergency Savings To Keep Up With Inflation?
Saving three to six months of emergency savings is a must, especially during times of economic uncertainty. However, rising inflation means that a $10,000 safety net might not be able to buy as much tomorrow as it does today. Learn More: Try This: GOBankingRates talked to financial experts to find out how much you should add to your emergency savings to keep up with inflation. Carson McLean, founder of Altruist Wealth Management, said individuals should aim to increase their emergency fund by 3% to 4% annually, assuming average inflation. 'For example, if your emergency fund is $30,000, aim to add an extra $900 to $1,200 each year, just to maintain its purchasing power,' McLean said. Individuals can find the inflation rate by using the annual Consumer Price Index for All Urban Consumers published by the U.S. Bureau of Labor Statistics. 'Set an annual recurring calendar reminder to review the prior year's inflation data and top up your fund,' McLean said. 'Alternatively, set up an automatic savings transfer. For example, add $100 per month to your emergency account, which covers most inflation adjustments without much thought.' Consider This: William Bergmark, a personal finance expert at Credwise, recommended that individuals use the annual inflation rate to calculate how much they should add to their emergency savings. 'For example, if you've saved $20,000 and inflation is 5%, you'll have to put in at least $1,000 that year,' Bergmark said. 'Inflation gradually erodes the purchasing power of your money — just letting it sit in the bank. So, it is a must to continuously build your emergency fund.' One easy formula to calculate how much should be added each year to offset inflation is: Emergency Fund Balance x Annual Inflation Rate = Adjustment Amount Therefore, if an individual saved $15,000 in their emergency fund and the annual inflation rate is 2.9%, they should aim to save $435 ($15,000 x 0.029). 'Over the years, rising prices — especially on essentials like rent, groceries, gas and healthcare — can quietly outpace your savings,' Bergmark said. 'Even if your fund was sufficient a few years ago, it might fall short today. It's a hidden risk that many people don't think about until it's too late.' To maintain an emergency fund, Jay Zigmont, founder and CEO of Childfree Wealth, recommended keeping the cash in a high-yield savings account and monitoring it every six months to ensure that one's savings are keeping up with inflation. 'If your life and job are more stable, you can lean towards three months, if not go to six months,' Zigmont said. 'Since it is based on your expenses, the amount needed will shift based on inflation and changes in your life.' He suggested a 'health check' on all your finances every six months. 'Some people like using the first of the year and mid-year — July 1. Others check their finances twice a year when they change clocks. The key is to set a reminder on your phone and make it a habit.' Christine Lam, an investment advisor representative at the Financial Investment Team, said individuals should offset inflation by ensuring their emergency fund grows at a rate that matches inflation. 'This can be accomplished by utilizing vehicles such as high-yield savings accounts, certificates of deposit (CDs) or money market accounts,' Lam said. 'To determine how much to save, review your monthly expenses and ensure that your emergency fund holds enough to cover three to six months' worth of living costs.' A simple way to keep track of savings goals is to earmark a percentage of one's paycheck to go directly into an emergency fund account. 'This ensures consistent growth, and as your income increases, your savings will automatically grow proportionately,' Lam said. 'At the end of each year, reassess your emergency fund, evaluate any changes in your financial situation and inflation rate, and adjust your savings goals if necessary.' More From GOBankingRates 4 Things To Watch for as Elon Musk Takes on Social Security These 10 Used Cars Will Last Longer Than an Average New Vehicle Warren Buffett: 10 Things Poor People Waste Money On 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on How Much Should You Add to Your Emergency Savings To Keep Up With Inflation?
Yahoo
26-02-2025
- Business
- Yahoo
How to find the value of a U.S. savings bond
Issued by the U.S. Treasury, savings bonds are relatively safe, long-term investments that mature 30 years after the original purchase date. For most of us, 30 years is a long time to hold a single investment. The value of your investment can also change considerably during that time. So if you're wondering what your savings bond is worth, there are simple methods for calculating the value; the one you use will depend on the type of bond you have. Read more: What are bonds, and how do you invest in them? This embedded content is not available in your region. The U.S. Treasury currently issues two types of bonds: Series EE bonds: These bonds earn interest monthly for 30 years. As long as you hold it for at least 20 years, the Treasury guarantees that a Series EE bond will double in value, regardless of the interest rate. Series I bonds: Intended as a hedge against inflation, these bonds also earn interest monthly for 30 years. Unlike Series EE bonds, however, the interest rate on Series I bonds is made up of two parts: A fixed rate, set at the time of purchase and remains the same for the bond's life. A variable rate, adjusted every six months based on inflation, measured by the Consumer Price Index for All Urban Consumers (CPI-U). Read more: I bond vs. high-yield savings account: Which is better for beating inflation? Both types of savings bonds are issued electronically through the official Treasury website. However, you can also get paper versions of I bonds if you use your federal tax refund to purchase them. Note that in the past, the Treasury issued other types of savings bonds, such as Series HH bonds, but has since retired them. These older bonds were originally issued in paper form but are no longer available for new purchases. Read more: Types of U.S. savings bonds and how they work Finding the value of an electronic savings bond is as simple as visiting the U.S. Treasury website: Once on the site, click 'log in,' then click 'next.' Then, enter your account number. You may be prompted to enter a one-time passcode (OTP), which TreasuryDirect will send to your email. If so, enter the code you receive in your email and submit, then do the same with your password. After logging in successfully, you will be in the My Account section. On that page, you will find a section called 'Current Holdings,' which shows the current value of all your holdings, including savings bonds. If you have more than one type of savings bond, you can see the value of each type by clicking the Current Holdings button in the menu at the top of the page. You will then see a separate holdings page, showing the value of your Series EE and Series I bonds. Unlike electronic savings bonds, paper bonds are not tracked via your online account. Since you can't quickly look the values up, you must calculate them manually. Fortunately, there is a paper savings bond calculator on the TreasuryDirect website that lets you quickly calculate the value of paper bonds. This calculator determines the value of a paper bond based on its series, issue date, and denomination. You can also enter the bond's serial number for later reference, though this step is optional. To calculate the value of a paper savings bond: Access the calculator on the TreasuryDirect website. Enter a date for which you'd like to know the bond's value. Enter the type of bond and dollar amount. Enter the serial number (optional, to track the bond later). Enter the issue date (month and year). Click calculate. Read more: How to cash a savings bond Two of the biggest factors affecting bond values are interest accrual and the bond's value doubling if you own Series EE bonds. Interest can be a big factor, particularly because savings bonds can earn compounding interest, where you can earn interest on top of the interest you earned previously. Because Series EE bonds have fixed interest rates and Series I bonds have variable rates, the amount of interest each type earns can vary significantly over 30 years. For instance, if you purchase a Series EE bond with a 2.5% interest rate, you may earn much less than you would with a Series I bond if interest rates increase over time. To illustrate this, we can compare a $1,000 Series EE bond issued in February 2001 to a Series I bond issued in the same month. The current value of the Series I bond as of Feb. 20, 2025, is $4,148.00, while the value of the Series EE bond is just $1,152.00. Series I bonds have a higher interest rate in that period, leading to a much larger increase in value. This can also have a significant impact on a bond's resale value. It is possible to sell savings bonds at any time on the open market. However, if you have Series EE savings bonds with a low interest rate and market interest rates increase, the value of your bond will decrease. This is because it earns less interest than newly-issued bonds. The value of a 30-year bond today depends on several factors, including the issue date, the bond type, and the dollar amount denomination. A $50 savings bond you purchased last year likely hasn't changed much in value. Conversely, a $5,000 bond you purchased 25 years ago may be worth much more than it was when you purchased it. Remember that you can quickly see the value of 30-year electronic bonds by logging into For old paper bonds, use the paper savings bond calculator on the TreasuryDirect website.
