Published On: Dec 26 2013 11:30:05 AM ESTUpdated On: Dec 27 2013 02:00:00 AM EST
The Fiscal Times has compiled a list of eight things that will cost more in 2014. Find out if you'll be impacted:
New 2013 taxes will kick in when you pay your tax bill this spring, particularly for high earners. Joint filers who make more than $250,000 or singles making more than $200,000 will pay an additional 3.8 percent investment income tax and an additional 0.9 percent Medicare tax because of Obamacare.
7. Company health care
In 2014, employees will pay an average of $5,000 for health care, including out-of-pocket costs and premiums. That's up from about $4,500 this year.
6. Airline travel
The recently-approved merger between US Airways and American Airlines may mean higher prices for travelers. Rising prices will get one more bump under the new budget deal, which adds about $11 to the price of a round-trip ticket.
The U.S. Department of Agriculture expects food prices to rise by about 3 percent next year, whether you eat out or stay at home.
Stamps are going up from 45 cents to 49 cents next year, and the U.S. Postal Service is also increasing the cost of sending international letters, postcards and packages. The carrier lost nearly $16 billion last year.
Tuition and fees for four-year public colleges jumped by 2.9 percent for in-state students this school year, and 3.8 percent for private schools. That's the smallest increase in years, but experts expect the upward trend to continue.
The National Association of Realtors expects home prices to increase by 5.3 percent next year, with new home prices seeing a 5.1 percent rise. Rental prices are expected to grow by 2.2 percent.
The Fed has finally moved to scale back its bond buying programs in 2014, which will lead to higher interest rates. The Mortgage Bankers Association expects interest rates on a 30-year fixed mortgage to increase from 4 percent this year to 4.9 percent in 2014.