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Thursday, February 10, 2022

The Daily Money: How inflation will affect your Super Bowl spread

Today's top stories from USA TODAY Money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Thursday, February 10

Subscribe to The Daily Money newsletter. Come for our roundup of each day's top stories from USA TODAY Money. Stay for the pop-culture references and financial news-inspired playlist.

Good morning and happy Thursday, Daily Money readers. Ohio University alum Jayme Deerwester with you once again, desperately hoping my Joe Burrow "Just a Kid from Athens" shirt arrives before Sunday.

🗞 News you should know 🗞

The Consumer Price Index, which measures the average change paid by consumers for goods and services, rose 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982. And that means inflation could toss a penalty on your Super Bowl party plan.

Prices for the top game-day finger foods are higher than they were last year and in recent history, according to data released Thursday by the U.S. Bureau of Labor Statistics. This year, shoppers will shell out $14.6 billion on food, drinks, apparel, decorations and other items for the day, up from $13.9 billion in 2021. 

Among the products fetching a higher price this year: avocados, the fundamental ingredient in guacamole (now $1.24 vs. 78 cents last year) and chicken wings, another game-day staple ($2.98 vs. $2.82). Supply-chain issues have also affected the price and consumption of beer.

🚨 More stories you shouldn't miss 🚨

Watching Super Bowl LVI:  How to stream Sunday's big game, whether you're Team "Joe Brrr" or "OBJ."

Bad month for Elon Musk. California accuses Tesla of race discrimination in lawsuit; geomagnetic storm burns up 40 SpaceX satellites.

Studying 9 to 5?  Dollywood to pay 100% of tuition, books for employees.

Samsung after dark.  Can the S22 Ultra beat Apple's best at night photography?

Small business questions.  Should you team up with a partner or go solo?

💡 Daily insight 💡

Feel like your financial health could be better but don't know where to start? There are four things you can do that can have an immediate impact, like maxing out your retirement accounts to save money on this year's tax bill, keeping cash free in case of sudden expenses, selling underperforming single stocks and putting that money in low-cost securities and eliminating brokerage fees by managing your own investments.

💵 Today's tax tip 💵

A tax refund is not just money: it's a fresh chance to improve your financial footing. Consider using the money to start or bulk up your emergency savings, add to your retirement fund, take care of those doctor's appointments or home improvements you've been putting off, pay off debt or invest in a life insurance policy.

In some cases, a refund means you're having too much kept out in taxes each year. If so, you would come out ahead if you changed your deductions and invested the extra funds each month. If that's not the situation in which you find yourself, that's okay. You can still enhance your life by choosing where your tax refund can do the most good.

🎶 Mood music 🎶

Check out this cool story about a Black L.A. farmer who's bringing healthy produce to city dwellers living in food deserts and teaching them to grow their own produce. It inspired today's lyrical salute to farmers from Luke Bryan: "Nobody knows better 'bout a hard-earned dollar. Just tell him how far he's gotta go and he'll go further. Here's to the farmer."

Listen while you work:  Play today's song and every track I've quoted in the newsletter in the Daily Money Mood Music playlist on Spotify

BTW, if you want to see an entertaining take on the day-to-day challenges of modern farming, cue up Season 1 of  "Clarkson's Farm" on Amazon Prime (a second is expected later this year). The show accomplished the impossible: getting the British media to rally around bombastic TV host Jeremy Clarkson.

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Aug 30, 2012; Seattle, WA, USA; NFL replacement referee Jerry Frump (37) waves a penalty flag during the game between the Oakland Raiders and Seattle Seahawks at CenturyLink Field. Mandatory Credit: Kirby Lee/Image of Sport-US PRESSWIRE ORG XMIT: USPW-82384 ORIG FILE ID:  20120830_mje_al2_649.jpg
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