When Luxuries Become Necessities

Oct. 9, 2024 - A Wealth of Common Sense

Your daily Starbucks addiction isn’t going to move the needle nearly as much as getting your housing and transportation costs right. If you locked in a 3% mortgage rate during the pandemic you’ve likely experienced deflation in your housing costs in recent years.

Right or wrong, much of the housing inflation this decade has boiled down to luck, both good and bad. Transportation costs, on the other hand, are more about choice than luck.

Nearly 40% of food spending is classified as “away from home” meaning eating out...