14 Things That Will Be More Expensive in 2018
This year could be hard on your wallet.
Rising oil costs mean that airline prices are expected to rise around 3.5 percent this year, according to the Global Business Travel Association’s Global Travel Forecast. North Americans can expect among the smallest price hikes (2.3 percent), but world travelers might shell out more for plane tickets. (Cut these 10 ways you waste money on vacation to balance the cost.) Prices are expected to increase by 5.5 percent in Western Europe and a whopping 7.1 percent in Eastern Europe. Costs will rise about 2.8 percent in Asia Pacific, and 3 percent in the Middle East and Africa. To avoid the high prices, Latin America might be a good option—its ticket prices are predicted to rise just 0.3 percent.
Plane tickets aren’t the only way travel will be getting more expensive. World hotel prices are expected to increase by 3.7 percent, according to the GBTA report, with regional trends similar to airlines. (Here are 21 more secrets hotels don’t want you to know.) European hotel prices will rise by more than 6 percent, while Asia Pacific and North American rooms will be hiked up about 3 percent. The Middle East and Africa will see increases of just 0.6 percent, while Latin America can actually expect hotels to become 1.2 percent cheaper. Learn more money-saving tips from travel agents.
The Postal Regulatory Commission announced Forever stamps, postcards, and metered letters are getting a one-cent price hike on January 21, 2018, and other mail costs will increase, too. Prices for regular, legal, and padded flat rate envelopes, plus small, medium, and large flat rate boxes will all increase by five cents. Balance the price increases with these 56 effortless ways to save money.
Home prices have climbed every month for nearly two years straight, and with low supply and high demand, that trend isn’t expected to stop this year. Finance and property analysis company CoreLogic predicts home prices will rise by another 4.2 percent this November compared to that month last year. Don’t miss these other 12 hidden costs first-time home buyers should know about.
There’s some good news and some bad news when it comes to food shopping in 2018. The U.S. Department of Agriculture expects grocery prices to increase by 1 or 2 percent in 2018, particularly when it comes to meat, dairy, eggs, and fresh fruit (boo!). As the silver lining, though, fats, oils, and processed fruits and vegetables are expected to get cheaper this year (yay!).
Sorry, but going out to eat won’t become relatively cheap compared to increasing grocery prices. The USDA predicts restaurant prices will actually increase even more than groceries: 2 to 3 percent in 2018. Keep your wallet (and belly!) full with these 12 tricks for saving money in restaurants.
Cable and satellite TV
Most Comcast bundles will be increasing by $5 a month in 2018. (Here are 11 smart ways to save on every bill in your house.) DISH is also raising its monthly prices by $3 to $5, depending on the plan, and DirecTV costs are rising by as much as $8 a month. Meanwhile, Cox is increasing prices for every TV service except Playboy, which is actually getting cheaper. Anyone under a contract with any of the companies or who signed up with a promotion won’t see price hikes until those deals end, though. If you’re ready to cut the cord on cable, find out how to save money while enjoying your favorite shows.
It’s no surprise that college is getting more expensive (even with this year-by-year guide to help you save for college). In-state public school tuition is more than three times higher now than it was two decades ago. You can’t just blame inflation though. According to College Board, in-state costs have risen 3.2 percent every year over the past ten years—and that’s after taking inflation into account. Expect even higher prices for higher education in 2018 and beyond. Make sure to teach your kids these 13 money rules everyone should know before leaving for college.
Tickets for popular movies
Regal Entertainment Group announced that this year it will start testing dynamic pricing in its theaters, meaning you could pay more for popular movies while landing a better deal on less popular films. (Don’t miss these other 13 things movie theater employees won’t tell you.) Regal hasn’t announced exactly what the price system will look like, so only time will tell if the tickets (and pricy popcorn and soda prices) will be worth the cost to your family. Everything seems to be more expensive these days–check out the original prices of your favorite products.
The World Bank predicts that demand will drive prices for oil, natural gas, and coal up 4 percent this year, which could mean you end up paying more for gas at the pump. Don’t get too nervous though—prices climbed 28 percent in 2017, so the costs won’t seem that drastic. Still, this simple driving trick will help you save money on gas.
Don’t be surprised if it gets more expensive to watch your favorite professional sports team this year. Chicago Cubs season tickets are rising by an average of just 1 percent, but other fans are in for bigger price hikes. Season tickets for the Miami Dolphins will go up by an average of 6 to 7 percent per game, while tickets for the Boston Red Sox will be $1 to $5 more expensive in some sections this year. Even college sports aren’t safe, as Penn State football season tickets are increasing by $35, and parking will jack up from $40 to $60. Borrow these 17 tricks from people who are great at saving money to offset the costs. Believe it or not, these things will actually be cheaper in 2020.
If you weren’t already annoyed by the 700 percent price hike for lifetime senior passes to national parks in 2017, higher entrance fees might get you down. The National Park Service is considering raising prices during peak seasons for 17 national parks, which would involve paying at least double the usual cost. The Parks Service hasn’t announced its decision yet, but some parks, including Devils Tower, Lassen Volcanic National Park, and Capitol Reef, have already raised their entrance fees for 2018.
It’s getting increasingly expensive to stay ahead of the curve on technology. The iPhone 7 cost $649 when it launched in 2016, but last year, starting prices for the iPhone 8 and iPhone X were $699 and $999, respectively. Meanwhile, the Samsung Galaxy Note8 cost $950, compared to $849 for its previous model, and Google raised its launch prices from $649 for a Pixel XL in 2016 to $849 for a Pixel 2 XL in 2017. If the trend continues, you can expect to pay a pretty penny for your phone upgrade. Find out which tech products you should buy used and which are worth buying new.
If you get heath insurance through Affordable Care Act exchanges, don’t be surprised to see your premiums go up. The Department of Health and Human Services revealed the monthly premiums for a 27-year-old with the benchmark plan are increasing by an average of 37 percent, though the actual numbers vary by state. Arkansas, which will see premiums go down 22 percent, is the only state seeing a decrease. Subsidies are increasing even more than premiums, though, so costs could actually go down for those who apply and qualify.