Category: Dollars & Sense
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What the Corporate Transparency Act Means for Small Businesses
The Corporate Transparency Act (CTA) was enacted as part of the National Defense Authorization Act for Fiscal Year 2021 and aims to improve the transparency of corporate ownership in the U.S. by requiring certain companies to disclose their beneficial owners to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The primary purpose…
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Meal Inflation Calculator: Discover How Rising Wages and Prices Change Your Meal Cost
The Rising Cost of Food and How Inflation Impacts Average Americans Since 2020, inflation has driven substantial increases in food prices, making grocery bills a growing concern for many Americans. The Consumer Price Index (CPI) reveals that food-at-home prices have risen by about 25% from 2020 to 2023, significantly outpacing the historical average of around…
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The Cost of Being Average: A Look at Everyday Expenses
So, what does the Average American budget look like? Let’s break it down, line by line. Housing, whether rent or mortgage, usually takes the biggest bite, averaging 30-40% of monthly income. Next up is food, costing around $800 per month for a family of four. Healthcare, transportation, and good ol’ “discretionary spending” (think coffee shops…
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Facing Challenges: What Average Americans Struggle with in 2024
Life has never been easy, but 2024 has thrown a few more curveballs at the Average American. Between housing costs, healthcare expenses, and climbing grocery bills, many people find themselves juggling the budget like a pro (or at least like an amateur trying to make it work!). Let’s take housing. The median monthly rent in…
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Who is the Average American? A Statistical Look At Average Citizens
Who is the “Average American”? It turns out that answering this question is a bit like defining the most popular ice cream flavor: a blend of classic vanilla (think classic family size and income) with a swirl of unique toppings (varied backgrounds and lifestyles). The Average American is statistically a 38-year-old who works, has a…