Personal Finance 87

Living in a city can be expensive, with everything from rent to the average grocery bill eating up your savings and possibly preventing you from saving up for that first down payment. And, if that weren’t enough, those costs are going up faster in some cities.

In its latest study, we examined the cost of living in 50 major U.S. cities and found which ones experienced the biggest jumps in the cost of living from 2017 to 2018.

The study looked at the amount needed to pay for necessities such as food, rent, utilities, transportation and healthcare, as well as the amount one should budget toward savings and discretionary spending. These costs were then consolidated into a “live comfortably” income to determine the places in America that are getting more expensive.

If you’re wondering, “How much do I need to be rich?” the answer depends on where you live. To be rich in America — or in the 80th percentile of household incomes — you need to earn $103,405, which is significantly less than the amount many Americans think they need to be “rich.” However, in some states, you need to earn even less than that to be among the top earners.

For this study, we defined “rich” as an income in the 80th percentile of households, and determined the states where that amount was less than $100,000. The study also took into consideration states where top-tier homes were affordable. In addition, we looked at living costs, including groceries, utilities, transportation and healthcare. Keep reading to see where you can live a rich life while earning less than $100,000.

Making a list and sticking to it when you’re at the grocery store is an easy way to stay within your budget. But there are some things that you shouldn’t put on that list to start with, even if you get big discounts with a grocery store loyalty card.

SKIP THESE BAD BUYS

Every year we spend money on purchases that may be falsely advertised, environmentally harmful, or simply overpriced — but the good news is that we don’t have to keep making the same mistakes. Here are some of the worst offenders you should avoid in 2019.

As the world’s largest retailer, Walmart boasts a massive selection on everything from staples like groceries and clothing to camping equipment and pet supplies.

However, don’t let the retailer’s 5,000 location footprint lead you to believe that you’re always getting the best deal.

Here are the 12 best and worst ways to spend your money at the superstore.

No matter what type of budget you’re working with, there’s a chance you’re overspending on a few purchases without realizing it. Whether you’re shopping online or heading to the grocery store, you need to be aware of average prices and retail trends so you can really get the best deals. Doing so can help you save money and keep your budget in check.

Click through to discover the easiest ways to save money now — and take notice of what you’re overspending on.

The round of tariffs imposed on some $200 billion worth of goods imported from China went into effect in early September. The tariffs are currently at 10 percent but scheduled to kick up to 25 percent at the start of 2019, barring a deal with trade representatives from China. And as America heads into the holiday shopping season — a critical period for the retail industry — plenty of concerns abound about where consumers will be feeling the pinch.

The simple fact is that many shoppers aren’t familiar with what, exactly, they’re buying that’s coming from China. But that might change in a hurry if prices on some of the country’s favorite things jump just in time for Christmas. So, here’s a closer look at what things you love that might soon cost a lot more.

American shoppers are going gray. Chalk it up to aging baby boomers born between 1946 and 1964. There are roughly 74 million of them alive today, still outpacing millennials, with the first wave of boomers already entering retirement. And boomers like to shop. In particular, they like to shop at Costco. More older shoppers prefer the warehouse club over popular retailers such as Walmart and Target, and boomers are more likely than millennials to renew their Costco memberships.

So it makes perfect sense that Costco caters to retirees and near-retirees, despite the stereotype that it only sells bulk items that are too much for an empty nest. As a boomer and regular Costco shopper, I already knew this from personal experience, but recent research trips to my local warehouse clubs revealed even more deals aimed at the mature market that I hadn’t noticed before. Here are 15 things I found that uniquely appeal to retirees. Check them out.

Nobody wants to be thought a cheapskate. But, at times, it makes good financial sense to purchase a cheaper option if you can.

A high price tag doesn’t necessarily make something better. Often low-cost items will serve your needs just as well, or the higher quality option may not be worth the extra money.

Other times, there’s little or no difference in quality between the priciest and cheapest versions of products. Here are eight times when it’s smart to be cheap.

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