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‘The cost of living is terrible in 2023’: This TikToker says she takes home nearly $100,000 a year, but claims she was better off in 2012, earning minimum wage.3 easy ways to cut your budget


‘The cost of living is terrible in 2023’: This TikToker says she takes home nearly $100,000 a year, but claims she was better off in 2012, earning minimum wage.3 easy ways to cut your budget

Most people would think that spending 11 years climbing the ladder in your career would give your budget some breathing room, but many young professionals find that’s not the case.

Recently, TikTok user Sam (@sam.breezie), who received over 680,000 views on TikTok, claimed that she had more disposable income from a minimum wage job in 2012 than she does now, nearly $100,000.

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“The cost of living is so bad in 2023, I’m pretty sure I was actually better off financially in 2012,” explain TikToker based in British Columbia.

In the video, she mentions that she now pays $1,650 in rent, compared to just $350 in 2012. Add in student loans and car payments, and she said she barely has any money left. Except in 2012, she was able to go out to dinner and then go shopping.

Commenters overwhelmingly agreed with her. One commenter said: “Going from $36,000 a year when COVID hit to $80,000 a year. My financial situation is exactly the same.”

Sure, inflation changes the value of the dollar, but does it really matter? In this case, the data seems to suggest that while prices have increased, they haven’t been that dramatic overall.Anyway, Americans Feel Financial stress is intense. Here’s how to save on three major living expenses that have been dampened by inflation in the past year.

groceries

Sam is right here. Food prices in 2023 will surprise our 2012 selves. According to the U.S. Bureau of Labor Statistics, the Food Consumer Price Index (CPI) rose 3.3% in October.

With ground beef up 20 percent, orange juice hitting $10 a gallon, and Hershey’s planning to raise chocolate bar prices, it’s no wonder 60 percent of Americans say they have some difficulty buying groceries easily, according to one agency. 2023 report From research firm Attest.

But savvy shoppers can choose to save.Coupons, meal sharing and bulk purchases are just some of many methods You can use it to find a little breathing room in your food budget.

read more: Thanks to Jeff Bezos, you can now Use $100 to buy prime real estate and cash out — Without the hassle of being a landlord.Methods as below

housing costs

Finally, there’s one thing that Baby Boomers and Gen Z can agree on: no one can afford rent. Housing CPI is up 6.7% this year, hurting both age groups.

Number of homeless seniors rising sharply “Not seen since the Great Depression.” Meanwhile, stagnant wages and high inflation are keeping a third of Gen Z at home, according to one agency. Study in 2022 Provided by credit scoring platform Credit Karma.

Even homeowners are not entirely off the hook because Fed to raise interest rates There was a domino effect on mortgage rates.Many homeowners won’t even sell their homes right now for fear of Lose fixed mortgage rate.

While you can’t control your rent or mortgage rates, you can find other ways to cut back on your housing expenses.For example, if you haven’t reviewed your homeowners insurance policy in more than six months, you may want to look around See if you can get a better price.

You might also consider renting out any extra space – whether it’s your garage, an extra room or even a swimming pool. now, Airbnb and Swipleyit’s easier than ever to earn a little return on everything you put into your home.

Gas and Energy

Natural gas prices are now $3.248 per gallon, down from their peak in 2012, according to the U.S. Energy Information Administration.

Natural gas prices are not even as high as they were in 2022. The U.S. Bureau of Labor Statistics reported that the gasoline index actually fell 5.1% in October, while the fuel oil index fell sharply by 21.4% that month. The category had previously soared 10.6%, rising 2.1% in August and 2.1% in September.

However, winter is coming. As with last year, it’s smart to prepare for higher energy bills as the days get shorter.You may want to explore other methods Lower your energy/gas billsSuch as determining your state’s off-peak hours and locating drainage facilities.

Driving less is another option to reduce gas bills, but it’s not a reality for many Americans.However, there are some simple ways Save this money and avoid hitching a ride.

Finally, if you’re feeling stressed about living expenses right now, it might help to know that you’re not alone. It’s certainly something many families are grappling with — just ask the nearly 1,300 commenters on Sam’s TikTok.

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This article provides information only and should not be considered advice. This article is provided without warranty of any kind.





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