We've scoured the internet so that you don't have to. Consider this our monthly roundup of relevant news articles to support your pursuit of prosperity.
The PNC Christmas Price Index
Nerd out with one of Andy’s favorite annual publications. For 39 years, PNC has calculated the prices of the 12 gifts from the classic song, "The Twelve Days of Christmas." The PNC Christmas Price Index® remains a whimsical holiday tradition. (Who knew swans were so expensive?!)
Watching Your Energy Bills? Smart Meters vs Regular Meters
Energy bills are a growing concern. Many of us are making changes to our energy usage to keep our bills as low as possible, with smart meters ‒ which display how much energy we're using, and where ‒ a potentially useful aid in doing so. But not everyone likes smart meters. So, what are the big pros and cons of each meter type?
Households Spend $1,600 Yearly on Health-Care Products That FSA Could Cover
If you have unspent money in your health-care flexible spending account, now’s the time to make a plan to use it before you lose it. The good news is that even if you don’t have medical needs to spend the funds on — i.e., doctor’s appointments or prescription drugs — an estimated $1,600 is spent by households each year on health care products that could otherwise be purchased using FSA dollars. This means it’s likely you’d find a way to spend the money on things you’d end up buying anyway.
401(k) and IRA Contribution Limits Will Jump in 2023, IRS Says
The Internal Revenue Service announced today that young workers will be allowed to contribute up to $22,500 pretax to a 401(k) or similar retirement savings plan in 2023, a $2,000 jump from the current $20,500 limit. Those 50 or older will be permitted to sock away up to $30,000, a $3,000 boost, which includes a $7,500 “catch-up” contribution, up from a $6,500 catch-up in 2022.
But take note, particularly if you are 50+: It’s been years since the IRS upped this number. Changes to your contributions are not automatic, so to take advantage of the change you’ll need to make a manual adjustment.