It just cannot be stretched any further……
Where does the money go? With all prices seemingly going up and compensation levels remaining flat, how does a family do it? One of my daughters goes to college and I just received notice that next years tuition increase of 3.5% has been approved by the board. Oh really, what a surprise! Let’s see, the board believes that every student should pay an additional $2,000. Always easy to find a way to spend money, but has the quality of education risen? Only you can decide. These annual 3.5% increases are fully baked in and have been for some time. For those of you with young children now, it means that annual tuition rates in about 10 years will be around $80,000 per year. No end in sight to the continued escalation of the cost of education. So much has been written about this being the next big disaster area in our economy and it is hard to disagree.
Which of course brings me to a song….
Money – Get away – You get a good job with good pay and you’re okay
Money – It’s a gas – Grab that cash with both hands and make a stash
New car, caviar, four star daydream – Think I’ll buy me a football team
Money – Well, get back – I’m all right Jack -Keep your hands off of my stack
Money – It’s a hit – Don’t give me that do goody good bullshit
I’m in the high-fidelity first class traveling set – I think I need a Lear jet
Money – It’s a crime – Share it fairly – But don’t take a slice of my pie
Money – So they say – Is the root of all evil today
Money – Pink Floyd
Where does our money go today? Certainly not to buying a football team! I am still waiting for that Lear jet 🙂 I recently read a report on CPI (Consumer Price Index). The report identifies the categories where money is being spent today. Take a look at this chart and compare it to where you spend your money.
Take a look at your monthly budget and compare. The full report can be found http://www.bls.gov/cpi/cpid1106.pdf
Have a great day.