Tuesday, November 21, 2023

The Daily Money: Some Americans forgo holiday travel to pay the rent

The Daily Money: High housing costs force some Americans to travel home only once during this holiday season.

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Nov 21 2023

 

Daniel de Visé Personal Finance Reporter

Good morning! This is Daniel de Visé with your Daily Money.

While recent data from the Bureau of Labor Statistics suggests inflation is cooling, the price of simple shelter has risen 6.7% year-over-year. Shelter has accounted for 70% of the increase in core prices (excluding food and gas prices) over the past year.

A' Quinton Ocasio faces $2,100 in monthly rent on a studio in the Bronx. To pay it, he must make an unpalatable choice: seeing his loved ones on Thanksgiving or Christmas. This year, he chose Thanksgiving, because the family is gathering in Virginia, a bit closer than his home state of Georgia.

"I can't travel for both holidays, and that's sad, because I want to make it home for Thanksgiving and Christmas, you know?," he says. "But I have to choose one or the other."

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Customers visit the American Mall dream mall during Black Friday in East Rutherford, New Jersey, on Nov. 25, 2022. Black Friday, the day after Thanksgiving is traditionally regarded as the start of the holiday shopping season, with shoppers flocking to stores and online for bargains.

Kena Betancur / Getty Images

Black Friday sales have started. Here's what to know.

Ready to do some holiday shopping?

Black Friday shopping deals have already started online and in stores, and will continue through Thanksgiving week, my colleague Betty Lin-Fisher reports.

In the last several years, retailers have started earlier with their Black Friday or Cyber Monday sales, providing a mix of in-store and online sales to meet changing consumer demand.

We'll tell you what you need to know, including store hours and return policies , before you shop Black Friday deals.

📰 More stories you shouldn't miss 📰

🍔 Today's Menu 🍔

If you are hosting on Thanksgiving – or Friendsgiving  – you probably already feel the pressure of producing a feast. Hate to remind you, but entertaining also requires some attention to what everybody is going to sip while the turkey roasts.

If the festivities involve a full menu of turkey, ham and all the trimmings, you won't want anything too boozy before dining. Audrey Morgan, associate editor at Liquor.com , suggests flavorful, low-alcohol cocktails "you can sip over starters and several rounds of turkey."

Click on the link for some cocktail and mocktail options for your holiday happenings.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

BURBANK, CALIFORNIA - NOVEMBER 14: People shop ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Some early Black Friday deals are already in place at Walmart and other retailers ahead of Thanksgiving and the traditional holiday shopping season. (Photo by Mario Tama/Getty Images) ORG XMIT: 776063911 ORIG FILE ID: 1793898024

Black Friday and Cyber Monday sales have begun. We've got tips on what you should know as the shopping marathon begins.

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Shoppers walk past the Black Friday sale sign on the windows of the Childrens Place at the Dartmouth Mall.    Shoppers Head To Dartmouth Mall For Some Holiday Shopping
 

Sales have begun for Black Friday. Here's what to know.

Retailers don't wait for Black Friday for sales. The deals have started online and in stores already. Here's what you need to know.

A large stack of cardboard boxes, envelopes and a cylinder are sitting inside a door of an office.
 

For a year, Target sent this Minnesota woman hundreds of packages by mistake

When Kelly Witter came home on Monday, she found 133 Target packages that she didn't order It was the latest in a year-long saga of mistaken packages.

Employees socialize at Google's cafeteria, one of the many perks for workers at the company's sprawling suburban campus in Mountain View, California.
 

Wages rose, but have you checked your benefits? They likely got slimmer

Higher wages may be sticky but benefits are slippery. Data show companies pull back benefits to pay you more cash and prepare for a slowing economy,

A big rig is seen in a rear view mirror driving alongside Lorenzo Fernandez's truck as he waited in a long line to pick up cargo at the Port of Oakland in Oakland, Calif. in this file photo from Sept. 26, 2007.
 

How to survive Thanksgiving trips, from pros who live on the road

From when to hit the road to where to stop and how to save on gas, truck drivers share their time-tested tips for road trips.

How much will your Thanksgiving day meal cost
 

The US cities with the most expensive Thanksgiving dinner

The cost of Thanksgiving dinner might be falling for some but residents in these US cities will likely pay more for Thursday's feast.

This Wednesday, Oct. 18, 2006 file photo shows the charging bull in lower Manhattan in New York. Police have arrested a 33-year-old woman accused of dumping blue paint over the iconic "Charging Bull" statue on Wall Street. Police say Courtney Fallon was arrested Friday, Sept. 15, 2017 on charges of making graffiti and criminal mischief. (AP Photo/Mary Altaffer, File) ORG XMIT: NY123
 

Why your 401(k) could soar now that Fed rate hikes appear to be over

The Federal Reserve seems to be done with its aggressive interest rate hikes, economists say. That could turbocharge stocks and your 401(k).

In this photo provided by SeaWorld Parks & Entertainment, people dressed as he Christmas Town elves ride Busch Gardens' Alpengeist roller coaster in Williamsburg, Virginia. (Photo by Scott K. Brown/SeaWorld Parks & Entertainment via Getty Images)
 

Thrills and Black Friday deals: The offers at Florida amusement parks

Universal Orlando Resort, SeaWorld Orlando and LEGOLAND have discounts in store for Black Friday shoppers. Here is how you can save.

3. Cantaloupe     Sweet, juicy, and luminously orange-fleshed, this delicious melon arrived in Italy around the 15th century, probably from Persia by way of Armenia. It was first planted in the Papal Gardens in the commune of Cantalupo, near Rome, giving it its name. (Bonus fact: True cantaloupe has a smooth exterior. The melon we usually eat under that name, with a net-like pattern indented on its skin, is   actually a related fruit properly known as muskmelon.)
 

17 hospitalized with salmonella in outbreak linked to cantaloupe recall

The FDA is warning people not to consume recalled cantaloupe products as it investigates a salmonella outbreak.

Elder abuse can range from physical or sexual assault against vulnerable seniors to financial scams to abandonment or neglect by caregivers. But the most common threat is self-neglect: an elderly person unable to provide for their own clothing, shelter, food, medication or other basic needs, and having no one to provide care for them.
 

Meet the 'sandwich generation': Adults juggling bills and caregiving

Caregiving can be a full-time job. For members of the sandwich generation, it can be more: 50 hours a week, on average, a new survey finds.

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