These Items Will Cost You More in 2020

These Items Will Cost You More in 2020

Black Friday is over and holiday deals will soon be winding down. Can you count on any discounts going into the new year? For some products, maybe (those January sales are often pretty good.) But others? Not so much.

Every year, we see a rotating list of price predictions coming our way. They affect everything from big-ticket items like cars but also everyday ones like fruit. Why is that? “Prices are affected by raw material prices, transportation costs, tariffs, and of course supply and demand,” which are always changing, says Edgar Dworsky, Founder and Editor of ConsumerWorld.org. Andrea Woroch, consumer savings expert at andreaworoch.com, points out that competition also plays its hand.

This year, check the price tag on these items before you “add to cart.”

Major appliances. We’re talking refrigerator-sized ones. Like actual refrigerators, but also ovens, ranges, dishwashers, washers, dryers and the like. Price increases on these items could be related to tariffs being imposed on imports, says Dworsky.

Streaming services. As if you weren’t paying enough for your entertainment needs, 2020 will bring even higher bills. Hulu Live is raising its price by $10, says Woroch. Plus, with all of the new streaming services, like Disney+, consumers in general are expected to spend more on their streaming needs, she adds.

Food. The price tag at your local grocery store will be going up for things like beef, veal, meats, seafood, processed fruits and vegetables, and fresh vegetables, says Woroch. This is due to a number of factors, like increased prices in electricity, diesel, for food production, transportation, and retail sales. It’s not all bad news at the supermarket. Reader’s Digest predicts that switching to a lower cost (discount) grocery store — like Aldi or Lidl — could open the door to bigger overall savings. It will be easier as these stores expand their footprint in the US.

Electronics should drop in price, unless they are affected by tariffs, Says Dworsky. “The trend has been bigger and better for less money,” he adds. Specifically, the price of the iPhone 11 will drop since it has already been on the market for a few months, wireless headphones are seeing price cuts as more companies are competing for business in this market, and there will be better deals on OLED TVs, Woroch says.

While you might want to try to focus your shopping on items that are expected to drop in price, that isn’t always realistic when you get to the store. Even if something goes up in price, there are tried and truel ways to save. Dworsky is a fan of buying in bulk — especially for grocery store purchases. The best way to do this is to develop a price consciousness, he says. Keep track of prices of your favorite items so you know when it is going for a great price. When it’s on sale, “don’t just buy one,” he suggests. Stock up, if you can, when the price is the lowest it is going to be. Your patience will save you money, Woroch says. If you can wait a few months for the “latest and greatest,” the price is likely to be a little lower.

With Rebecca Cohen

Articles
Better to Know
Better to Know

Before you purchase car insurance, it’s important to know all the details. Sure, you know the make and model of your vehicle and ...

Read More

You Might Be Missing Out On Major Rewards
You Might Be Missing Out On Major Rewards

You gotta give a little to get a little, or in this case, give a little to get a lot. Rewards credit cards — they’re the easiest ...

Read More

Retailers Are Shortening Return Periods
Retailers Are Shortening Return Periods

Remember the days when you had an infinite amount of time to return your purchases? A new report by ConsumerWorld.org shows how m...

Read More

Costly Cards
Costly Cards

No matter how long your holiday shopping list is this year, we suggest you avoid one thing: A retail credit card. The deals will ...

Read More

Monthly Mayhem
Monthly Mayhem

How many subscription services do you use, and how much are you paying for them each month? You might not know the correct answer...

Read More

Pondering the Protection Plan
Pondering the Protection Plan

You’ve likely been asked to purchase an extended warranty or protection plan before. What did you do? It can be a tough situation...

Read More

Cap It
Cap It

You’re probably paying more than you need to for your cell phone. That’s the main takeaway from a new report by ItsWorthMore.com,...

Read More

Holiday Travel Hacks
Holiday Travel Hacks

...

Read More

Apps for Affordable Airfare
Apps for Affordable Airfare

You might have noticed this, but flying is expensive. According to the Bureau of Transportation Statistics’s Airline Origin and D...

Read More

Website Terms of Service

Please read these "Website Terms of Service" carefully before using SavvyMoney Checkup ("site", "website"). Accessing this site, or making this site available to any third party, indicates that you have read and accept these terms.

  1. Materials. Materials in this site are copyrighted and all rights are reserved. Text, graphics, databases, HTML code, and other intellectual property are protected by US and International Copyright Laws, and may not be copied, reprinted, published, reengineered, translated, hosted, or otherwise distributed by any means without explicit permission.
  2. Links to Third-Party Sites. Linked, third-party sites from website are not under the control of the Licensor. The Licensor is not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites.
  3. Confidentiality of Codes, Passwords and Information. Licensee agrees to treat as strictly private and confidential any username, password, user ID, and all information to which you have access through password-protected areas of website.
  4. Maintenance. Licensor shall provide Licensee any new, corrected or enhanced version of the site as it becomes available. Such enhancement shall include all modifications to the site which increase the speed, efficiency or ease of use of the site, or add additional capabilities or functionality to the site, but shall not include any substantially new or rewritten version of the site.
  5. Limitation of Liability. Licensor shall not be responsible for, and shall not pay, any amount of incidental, consequential, or other indirect damages, whether based on lost revenue or otherwise, regardless of whether Licensor was advised of the possibility of such losses in advance. In no event shall Licensor's liability exceed the amount of license fees paid by Licensee, regardless of whether Licensee's claim is based on contract, tort, strict liability, product liability or otherwise.