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| Good morning and happy Friday, Daily Money readers. It's Jayme Deerwester back with you as we head into the weekend and National Ice Cream Day on Sunday. Check back with USA TODAY later to see where you can score a free or discounted scoop. |
| Social security beneficiaries could see a 10.5% cost-of-living raises next year if inflation remains hot. If it goes through, it would be the biggest raise since 1981. But some analysts are warning people not to get too excited yet. |
| While any COLA increase would be welcomed by retirees, especially those suffering as the highest inflation in 40 years is already well above their 5.9% raise this year, Mary Johnson, policy analyst at The Senior Citizens League, warns retirees won't be getting the full raise and could end up with less in the end. |
More stories you shouldn't miss |
| Uber sexual assault lawsuit: 550 passengers sue, alleging they were attacked. |
| Got a travel complaint? Read this before you call out the airline on social media. |
| Don't forget to make Disney park reservations: Just buying a ticket won't get you in. |
| How well does nursing pay? Salaries can range from $33,000 to $200,000. |
| Railroad strike deadline looms: Will Biden or Congress intervene by Monday? |
How does your energy bill compare to your mortgage? |
| Despite surging energy utility costs, homebuyers in 2021 spent a smaller share of their annual expenses on heating and electricity compared to previous years. |
| Nationwide, heating and electricity bills were equivalent to 15% of the typical new homebuyers' annual mortgage payments – 1 percentage point lower than in 2020 and almost 9 percentage points lower than a decade earlier, according to a Redfin analysis shared exclusively with USA TODAY. |
| The decrease cannot be attributed to a drop in energy utility costs. In fact, nationwide, the average annual energy utility cost rose 6.8% year-over-year in 2021 due to soaring natural gas prices. |
| "Even though energy costs rose in 2021, they represented a smaller share of mortgage costs than in the past," explains Redfin Senior Economist Sheharyar Bokhari. "That's because they increased at a much slower rate than home prices, which skyrocketed during the pandemic due to record-low mortgage rates and a wave of relocations made possible by remote work." |
| The states that saw the largest jump in energy utility costs were Oklahoma, where it climbed 22%, followed by Louisiana at 14.5%, and Arkansas at 14%. |
| "The increase in energy utility costs for households in states like Oklahoma, Louisiana, and Arkansas which saw the biggest annual increases last year can largely be attributed to weather-related events and higher energy costs at the state level, says Bokhari. |
🎧 Mood music 🎧 |
| How about a song celebrating Friday that isn't by Rebecca Black or The Cure? In this case, I'm going all the way back to 1966 for The Easybeats' "Friday on My Mind." |
| "Monday mornin' feels so bad. Everybody seems to nag me. Comin' Tuesday, I feel better. Even my old man looks good. Wednesday just don't go, Thursday goes too slow. I've got Friday on my mind." |
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. It even comes with its own Spotify playlist . It features nearly every song quoted here. |
| Follow Jayme Deerwester on Twitter – or Instagram, if you prefer puppy pictures. (Why? Because everybody loves puppies!) |
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