Don't Waste Your Money: 2013 monthly bills could be $100 higher - Toledo News Now, Breaking News, Weather, Sports, Toledo

Don't Waste Your Money: Monthly bills could be $100 higher in 2013

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If you've started paying your January bills, you may have noticed your money is not going as far in 2013 as it did in 2012. It seems that everything is costing more.

You may have heard a number of reports about the prices of many items, from the grocery store to the new car lot, expected to rise in 2013. Now we have some specific numbers about how much more the average family will have to pay for food, health care and more this new year.

One-Two Punch

It's a one-two punch facing consumers this year: Smaller paychecks because of rising Social Security and health care deductions, as well as higher prices.

AOL Daily Finance has broken down some of the higher costs we'll all face.

-Grocery costs are expected to rise 4 percent. That's another $40 a month for the average family.

-Health care premiums will move up $20 a month once the new rates are figured out in February.

-Computing and online access are up $2 a month as Internet providers raise rates again.

-Cable TV is up $5 a month because of rising rates and new monthly rental fees for VCRs and modems at many providers.
    
This means your total expenses could be $70 higher each month this year, assuming gas prices remain the same and do not exceed $4 per gallon.

Doesn't That Stink 
    
From the "doesn't that stink" file comes how these higher prices are hitting the same time we will be bringing home less.

The average two-week paycheck will be $40 smaller with the Social Security tax break expiring. All workers now see 6 percent withheld from their checks for Social Security, as opposed to the 4 percent level from the last two years.

Combine that with rising prices, and many families will find their monthly budgets $100 tighter this year.

So unless you are getting a nice raise at your job, this is a good time to re-evaluate your monthly budget, and realize your expenses will be higher in 2013, so you don't waste your money.

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