Budgeting: What to Expect in 2012
Each year we experience fluctuations in what the cost is of particular goods, based on the times and the consumer demand. In 2011, we witnessed the skyrocketing price of gasoline, oil, many dairy products (cheese in particular), cereal (have you noticed the smaller packages?), and fast food.
This year, the news is out on what good prices are expected to soar, while also revealing to us which ones we can expect to find some financial relief in. Here’s the scoop:
Rising Prices for 2012:
- Due to large damage payouts over the last year, the cost of homeowners insurance is expected to rise between 15 and 20% this year.
- Airfare costs (higher demand and not enough seating)
- Food (in a general sense). Particular products to be on the watch for include peanut butter and coffee.
- Desktop computers (with increased levels of features, they will be more highly sought).
Falling Prices for 2012:
- Natural gas prices (64.5 cents per therm, 14% less than last year)
- Computer tablets (originally were overpriced and are now facing increased competition among brands)
- Wine (increasing sales and clearing stock)
- Laptop computers (increased levels of necessity and popularity)
- Car rentals (have excess inventory)
***Based on projections taken from the StarTribune
Surprising, some of these. However, thanks to our world of fast growing technology, many of these don’t seem to raise an eyebrow. This blogger’s advice? Stock up on your canned goods and peanut butter now. You never know when it will come in handy for the upcoming semesters 😉
