You could lose $10,560 a year

Hope your week is off to a good start. Some of the most expensive financial decisions don't look expensive at the time. Today's issue flags a few worth a second look.

On the money today:

Let's get into it.

Since January 2020, every major household expense has outpaced wage growth. Gas peaked at 82% above its 2020 level in mid-2022 before pulling back — and it’s still 56% higher than where it started. Groceries and health insurance have climbed more steadily, both now sitting more than 30% above their 2020 levels. Real wages, adjusted for inflation, are essentially where they were six years ago. Keep reading for the moves that actually work when Washington doesn’t.

What’s hit your household the hardest since 2020 — gas, groceries, insurance, or something else? Hit reply and tell us. The best responses may be featured in a future issue.

Dave Ramsey has been taking financial calls for 32 years. By this point, certain money moves keep showing up again and again, and when they do, his response is the same every time. What drives him crazy isn't obscure or complicated. It's the kind of decision a lot of people make without fully understanding what it costs them.

Why it matters: Average new car prices hit $50,562 last month. Home co-purchases now account for 31.5% of all buys. Two of Ramsey's three wealth killers are already mainstream, which makes them harder to spot from the inside.

Marjorie Taylor Greene and Ilhan Omar disagree on almost everything. But when Greene turned her frustration on the White House over gas prices, grocery bills, and health insurance, she raised a question a lot of people are sitting with: what can you actually do while Washington argues? There are a few answers, and none of them require a policy change.

Why it matters: Consumer prices rose 3.7% over the year ending in September, with gas up 9.1% in that month alone. For anyone on a fixed or semi-fixed income, the gap between what's coming in and what things cost keeps widening without help from either side of the aisle.

Fidelity doesn't issue warnings casually. When the firm analyzed Social Security's trajectory and what it means for people currently collecting benefits, it arrived at a number most retirement plans haven't accounted for. The math is specific, the timeline is set, and there are moves you can make before the window closes.

Why it matters: 69% of Americans expect to rely on Social Security to some degree. Without congressional action, the trust fund depletes in 2032, triggering an automatic 22% cut that costs the average married couple $10,560 a year.

The correct answer is C) $1,056. Grocery prices have climbed roughly 32% since 2020 — meaning that $800 monthly basket now runs about $1,056. That’s an extra $256 a month, or more than $3,000 a year, just on food. Add in a 9.1% gas spike in September alone and health insurance premiums up 20% over three years, and you start to see why the question Washington isn’t answering is the one in today’s issue.