Do you have an extra $12,000? That's how much more experts say you are spending on average this year compared to two years ago.
PennyWise host Teri Barr discusses the topic with Elizabeth Renter, a personal finance data analyst with NerdWallet, to learn more about the specific categories where you've had to spend a lot more money in 2022.
Renter also shares what this means related to a recession, and what you can do about it.
More from Elizabeth on NerdWallet:
- First-Time Home Buyer Metro Affordability Report – Q2 2022
- Got an Extra $11,500? You’ll Need It to Keep Up With 2022 Prices
- U.S. Drivers’ Gas Spending Soars Toward $562 Billion in 2022
