The cost of living in 2026

[Bazza]

Stuff is still expensive, although it's very nice to see the price of gas going down. I'm was hoping this lower fuel expense would help positively influence the overall cost of goods and services elsewhere but it's not working on many things, although at least the inflation rate has slowed way down, thankfully.

I try to live as frugally as possible. Much of this is a reflection of how I was taught by Mom and Dad. Not having a family to support definitely helps.

I saw this piece on car prices (new vs. used) and thought it might be a good subject for a thread.

I have never ever bought a vehicle off the showroom floor. All used and have done really well over the years. But car buying is an art and science and like many things some folks are just not cut out for it. Many of those, I suspect, just go for the new car to eliminate any possible issues and peace of mind. But the trade off is paying more for the product.

I also saw that piped energy is up 10% over last year, which is why my natural gas bill is so much higher than last year.

 

[Bazza]

BTW, I thought it was funny when the lady in the video made a comment about her Subaru's heated seats. She's in Lee County, Florida......lol.......I lived there for a few years and it's hot almost year round!

 

[Bazza]

Ground beef is sky high right now.

And I read the other day that Omaha Steaks is ending their restaurant distribution side.

Now seeing this story about Wendy's......

The company says sales fell more than 10% last quarter and now it expects to shut down between 5% and 6% of its U.S. locations by summer.

 

[Bazza]

The “middle-class” debt trap:
New Car: $65,000
Wedding: $40,000
Mortgage: $600,000
Student Loans: $150,000

$800,000+ in debt before 30.

Society is built on getting you into a lifetime of debt.

Break free.

https://twitter.com/x/status/2023805642763629039

==========

$40K for a wedding?

Some good comments on the X page....

 

[Bazza]

Is there a better value for a dog and beverage?

 

[DzynKingRTR]

Is there a better value for a dog and beverage?

View attachment 56033

The movie Idiocracy really missed a great joke to show that 500 years from now the Costco hot dog still costs $1.50.

 

[oskie]

The movie Idiocracy really missed a great joke to show that 500 years from now the Costco hot dog still costs $1.50.

I would wager that 500 years from now, the soda will not be included in that price.
.

 

[DzynKingRTR]

I would wager that 500 years from now, the soda will not be included in that price.
.

But it will have Brawndo because it has electrolytes.

 

[CrimsonJazz]

But it will have Brawndo because it has electrolytes.

Brawndo has what plants crave.

 

[4Q Basket Case]

The “middle-class” debt trap:
New Car: $65,000
Wedding: $40,000
Mortgage: $600,000
Student Loans: $150,000

$800,000+ in debt before 30.

Society is built on getting you into a lifetime of debt.

Break free.

https://twitter.com/x/status/2023805642763629039

==========

$40K for a wedding?

Some good comments on the X page....

Normally, you think of the parents as paying for the wedding.

For 20-somethings who pay for it themselves, I'm not at all sure about an average of $40K.

For parents of 20-somethings who pay for the wedding, it's a whole different story. They can blow $100K faster than you can blink an eye.

I'm friends with a couple whose child's wedding was called off after planning had started, but still several months before the erstwhile date. They forfeited over $20K in deposits.

No food, nowhere near full rent on the venues, not the band, no flowers, no rental of chafing dishes, chocolate fountains, no service, not the first beverage. No nothing but deposits -- and it wasn't super-fancy elite country club or Michelin-rated restaurants. Nice places, but you wouldn't think of them as extravagant.

 

[CrimsonNagus]

The “middle-class” debt trap:
New Car: $65,000
Wedding: $40,000
Mortgage: $600,000
Student Loans: $150,000

I have never paid more than $22,000 on a car.

Our wedding was $6,000, and my wife and I paid for it because her parents lived off social security and military disability. My parents paid for the string quartet and our honeymoon cruise. The wedding was at Leu Gardens in Orlando, in their Rose Garden in June, so we did not have to buy flowers because roses were everywhere. It was bloody hot though.

Our current mortgage was $230,000 for 5 bedrooms and 2 baths, a little over 1800sq ft. Our first house was $135,000.

 

[Its On A Slab]

Normally, you think of the parents as paying for the wedding.

For 20-somethings who pay for it themselves, I'm not at all sure about an average of $40K.

For parents of 20-somethings who pay for the wedding, it's a whole different story. They can blow $100K faster than you can blink an eye.

I'm friends with a couple whose child's wedding was called off after planning had started, but still several months before the erstwhile date. They forfeited over $20K in deposits.

No food, nowhere near full rent on the venues, not the band, no flowers, no rental of chafing dishes, chocolate fountains, no service, not the first beverage. No nothing but deposits -- and it wasn't super-fancy elite country club or Michelin-rated restaurants. Nice places, but you wouldn't think of them as extravagant.

I told my daughters that I would either pay for college or a wedding, but not both.

They smartly chose the former.

 

[AWRTR]

I told my daughters that I would either pay for college or a wedding, but not both.

They smartly chose the former.

My daughter is 11 and my wife and I have already told her there will be no expensive wedding. I'm not saving and investing for years to squander a portion of my ROI on something you can do under a tree with 30 people there. Her college is all set in a 529 I fully funded and she has a custodial brokerage account I invest in for her monthly. She can use that money for downpayment on a house when she's ready.

 

[selmaborntidefan]

This reminds me of a couple in their late 20s back around 1999 or so. They were married. They were both going to be veterinarians. And at that time - while in their last part of whatever is necessary to be a vet - they BOTH had over $100K in student loan debt (yes, as in over $200K for the couple).

A few years later they divorced.
I have no idea what happened to either one of them.

Some of y'all know that about 10 years ago I went through a divorce (some of the posts are no doubt here) that played out over the course of three long years (it ended in 2016 I should say). Now, I don't want to come across as one of those "in my day" Gen X people, but:

- graduated college in 1991 in the teeth of a recession, jobs were scarce
- 9/11 occurred when I was 31, and a year later was removed from medical school with health issues
- the 2008 crash saddled with a subprime mortgage cost me any chance at refi because the house was worth less than 1/2 of the note; I turned 40 in 2009
- a divorce just as my kid was heading off to a conservatory there's no way I could afford
- I turned 50 less than five months before the pandemic was declared


when my ex left, I was saddled with $18K in a student loan, and she then stuck me with a $36K car note because she decided that since the "paid for" car was "in her name" (though mine), I got the note and she got the paid car.


As of yesterday, she:
- is about to have her 4th car repossessed since 2011
- has $243K in student loan debt and hasn't made a payment despite finishing school in 2019
- I have about that much in the market with a financial advisor and don't owe anyone a damn dime


The "cost of living" might be bad, but the brutal truth in (almost) all instances is that you can manage expenses better and like you're as poor as you are, too.

Wanna know another secret?

Go read newspapers even from THE MOST PROSPEROUS TIMES of our lives....and you'll find people terrified about the economy, their ability to make it in the future, etc. It is a literal perpetual cycle that never changes.

 

[Padreruf]

Sometimes it's not the high cost of living, but the cost of living high. We were able somehow to get our 2 boys through college (2002 and 2005) without any student loans. Just about every year one or the other expresses their appreciation as a lot of their friends were burdened with them for a decade or more. We helped them get off to a good start in buying homes (small inherited money) and they have both been highly successful in their business life. And yes, Selma is correct...the sky has been falling for decades. I just wish I had learned the power of investment and interest a long time before I did.

 

[DzynKingRTR]

Sometimes it's not the high cost of living, but the cost of living high. We were able somehow to get our 2 boys through college (2002 and 2005) without any student loans. Just about every year one or the other expresses their appreciation as a lot of their friends were burdened with them for a decade or more. We helped them get off to a good start in buying homes (small inherited money) and they have both been highly successful in their business life. And yes, Selma is correct...the sky has been falling for decades. I just wish I had learned the power of investment and interest a long time before I did.

I had to get literally hit by a car to learn about investments.

 

[4Q Basket Case]

This reminds me of a couple in their late 20s back around 1999 or so. They were married. They were both going to be veterinarians. And at that time - while in their last part of whatever is necessary to be a vet - they BOTH had over $100K in student loan debt (yes, as in over $200K for the couple).

A few years later they divorced.
I have no idea what happened to either one of them.

Some of y'all know that about 10 years ago I went through a divorce (some of the posts are no doubt here) that played out over the course of three long years (it ended in 2016 I should say). Now, I don't want to come across as one of those "in my day" Gen X people, but:

- graduated college in 1991 in the teeth of a recession, jobs were scarce
- 9/11 occurred when I was 31, and a year later was removed from medical school with health issues
- the 2008 crash saddled with a subprime mortgage cost me any chance at refi because the house was worth less than 1/2 of the note; I turned 40 in 2009
- a divorce just as my kid was heading off to a conservatory there's no way I could afford
- I turned 50 less than five months before the pandemic was declared


when my ex left, I was saddled with $18K in a student loan, and she then stuck me with a $36K car note because she decided that since the "paid for" car was "in her name" (though mine), I got the note and she got the paid car.


As of yesterday, she:
- is about to have her 4th car repossessed since 2011
- has $243K in student loan debt and hasn't made a payment despite finishing school in 2019
- I have about that much in the market with a financial advisor and don't owe anyone a damn dime


The "cost of living" might be bad, but the brutal truth in (almost) all instances is that you can manage expenses better and like you're as poor as you are, too.

Wanna know another secret?

Go read newspapers even from THE MOST PROSPEROUS TIMES of our lives....and you'll find people terrified about the economy, their ability to make it in the future, etc. It is a literal perpetual cycle that never changes.

That, my TideFans brethren, is a mic drop.

Financial success is more about behavior than income. And….

Every single day, you can find somebody saying that we’re in the end times. And somebody else saying that today is the opportunity of a lifetime.

The truth is that even if you were born with a plastic spoon in your mouth, and if you don’t borrow a ton of money to get a degree in a low-paying passion project, and you live below your means for 20-25 years, you can not only survive, but prosper.

You can’t control your parents’ financial wherewithal. You can control your student debt and your lifestyle.

 

[selmaborntidefan]

That, my TideFans brethren, is a mic drop.

Financial success is more about behavior than income. And….

Every single day, you can find somebody saying that we’re in the end times. And somebody else saying that today is the opportunity of a lifetime.

The truth is that if you don’t borrow a ton of money to get a degree in a low-paying passion project, and you live below your means for 20-25 years, you can not only survive, but prosper.

The brutal reality is this, but I couldn't get her to understand it: we could have had literally every single material thing we've ever had. The only two differences is we'd still have some of them (we lost everything in the 2008 crash - house, cars, everything), it just would have taken the patience to get them NOT on credit.

Now she's 56 and arthritic, divorced on her own accord, no real hope of any bright future and saddled with more debt than she had when the bomb went off in 2008. Plus, she allowed her work licenses to lapse so...good luck.

By contrast, I took nine weeks off work in 2022, 8 weeks off in 2023, 17 weeks in 2024, and 17 weeks in 2025 while still making bank - and vacations to Yellowstone, Teton, and 16 days in the UK/France, none of which I owe anything for (because I budget). And I've bought three used cars and maintained them, none of which is financed, either. (Two - one for me, one for my son - absolutely HAD to be obtained).

Were I not keeping my parents, son, and brother with the two autistic kids afloat somewhat, I'd be retired - despite all the bad years of the Rule of 72.

 

[AWRTR]

The brutal reality is this, but I couldn't get her to understand it: we could have had literally every single material thing we've ever had. The only two differences is we'd still have some of them (we lost everything in the 2008 crash - house, cars, everything), it just would have taken the patience to get them NOT on credit.

Now she's 56 and arthritic, divorced on her own accord, no real hope of any bright future and saddled with more debt than she had when the bomb went off in 2008. Plus, she allowed her work licenses to lapse so...good luck.

By contrast, I took nine weeks off work in 2022, 8 weeks off in 2023, 17 weeks in 2024, and 17 weeks in 2025 while still making bank - and vacations to Yellowstone, Teton, and 16 days in the UK/France, none of which I owe anything for (because I budget). And I've bought three used cars and maintained them, none of which is financed, either. (Two - one for me, one for my son - absolutely HAD to be obtained).

Were I not keeping my parents, son, and brother with the two autistic kids afloat somewhat, I'd be retired - despite all the bad years of the Rule of 72.

I'm younger 49 at the moment but I've experienced a similar thing. I've lived beneath my means for my entire adult life and I'm now doing really well financially. I make a good salary. My wife makes ok, but because we don't do crazy things we have been able to invest and save.

We are going on a nice trip for our 20th anniversary, fully paid for, resort, spa, the works. Told my wife book whatever she wants for the trip. I got a suite for us to stay in.

I went to a cheap state school and graduated with 3,000 in debt. I started out making a little over 15,000 dollars a year out of college. I moved up the ladder over the years and haven't allowed my lifestyle to blow up out of control as salaries went up. The house is paid for and I have a nice portfolio of investments. It was all done using dollar cost averaging investing and following a written budget. It's not rocket science. A good work ethic, budgeting, and some basic investing will get you where you want to be still.

I read the book Millionaire Next Door a few years ago. It was a good read, and reinforced I was doing the right thing. I recommend that book to anyone that will listen. I've bought a few copies of it and The Total Money Makeover and given them to people.

 

[4Q Basket Case]

I'm younger 49 at the moment but I've experienced a similar thing. I've lived beneath my means for my entire adult life and I'm now doing really well financially. I make a good salary. My wife makes ok, but because we don't do crazy things we have been able to invest and save.

We are going on a nice trip for our 20th anniversary, fully paid for, resort, spa, the works. Told my wife book whatever she wants for the trip. I got a suite for us to stay in.

I went to a cheap state school and graduated with 3,000 in debt. I started out making a little over 15,000 dollars a year out of college. I moved up the ladder over the years and haven't allowed my lifestyle to blow up out of control as salaries went up. The house is paid for and I have a nice portfolio of investments. It was all done using dollar cost averaging investing and following a written budget. It's not rocket science. A good work ethic, budgeting, and some basic investing will get you where you want to be still.

I read the book Millionaire Next Door a few years ago. It was a good read, and reinforced I was doing the right thing. I recommend that book to anyone that will listen. I've bought a few copies of it and The Total Money Makeover and given them to people.

Just for folks who might not know what "dollar cost averaging investing" is:

It's investing a set amount each and every stinkin' paycheck, increasing the investment amount as your income increases.

The "averaging" part means that your set investment amount buys fewer shares when the market is high, and more shares when it's low. So your cost basis is an average of the market through the business cycle.

It's Warren Buffet's maxim of being more cautious when most other people are fearlessly greedy, and less cautious when most other people are fearful.

IOW a more academic way of saying, "Keep Calm and Invest On."