Skimm Money: Grocery Shopping vs. Eating Out, Cheap Fall Flights, and Making Sense of the Housing Market

Looking to get away for Labor Day? Now’s the time to book your fall vacay. Domestic fares are down an average of 37% from their peak prices in May. And while American Airlines might be able to get you to your destination faster in the near future, it won’t be in time to watch the leaves change colors in the coming weeks.

Headlines, Skimm'd

• This is fine? Despite recession fears, some experts say the US economy is actually doing okay. Inflation is starting to slow down, the labor market is strong, and wages are increasing at their fastest pace in decades. But there’s room for improvement. Especially on the labor front. See: the teacher shortage, the construction labor shortage (which women are filling), and gig work thriving. Plus, wages, though rising, aren’t keeping pace with inflation.

• Boulevard of Broken Dreams. Aka the housing market. Rising mortgage rates combined with a still-strained inventory have home sales and homebuilder confidence falling. Some builders say they’re cutting prices to maintain and attract more sales. But in June, housing affordability hit its lowest level since 1989, according to the National Association of Realtors. Which means builders aren’t exactly eager to break ground on new homes over fears they won’t be able to sell.

• Food, glorious food. Pain at the pump may have subsided for now, but grocery store groans are louder than ever. In July, grocery prices rose at the fastest rate since 1979, leaving many shoppers feeling like they should’ve just ordered takeout. And actually, dining out *might* be the cheaper option these days…even though restaurant prices are also up from last year. While grocery items are up a staggering 13.1%, food at restaurants has risen just 7.6% since last year. Half-priced apps, anyone?

Let’s Talk About…

How Being Single Can Make Building Wealth Harder

Single people will tell you, ‘Going it alone ain’t cheap.’ There are a lot of factors — from everyday costs like rent and groceries to long-term impacts like social security benefits — that make single life more expensive. According to the most recent data available, in 2019, married couples ages 25-34 had a median net worth nine times higher than that of singles in the same age group. Yes, nine times.And inflation is keeping living costs high in 2022. Read: Single people are facing an even heavier financial burden today. So it’s more important than ever for all the single ladies to make sure their emergency funds are well padded, their retirement savings are on track, and they’re earning the income they deserve. 

Make Good (Money) Choices

If you have a job interview on your cal…

Use these tips to land the role. Whether you’ve job-hopped a couple times in the last few years or you’re venturing into the job market for the first time in a while, interviewing can be the most nerve-wracking part of the job search process. And a little prep can go a long way. Start by doing your homework. Research the role and the company inside out.And don’t forget to jot down questions to ask your interviewer. Now, all that’s left to do is wait for the job offer. You’ve got this.

Tips Don’t Lie

Want to upgrade your space without scrolling through listings on Zillow? Because the housing market is still wild. (See above.) Check out these home decor finds for under $75. Products like a chic blanket ladder ($52.99) or shiny brass cable clips ($12.98) can level up your space on a budget. Make your HGTV dreams come true. No mortgage payment necessary.

ICYMI: SkimmU Career

If you’re feeling ‘meh’ about your career, quitting doesn’t have to be the answer. Watch SkimmU Special Edition: Career, our interactive course on how to network within your current workplace. Career and leadership expert Kimberly Brown taught us how building and leveraging relationships at work can help us rise up the career ranks. Watch now.

Crypto, Decoded

The next housewarming party you get invited to could be in the metaverse. Not sure how to get there? We’ve got directions in this month’s edition of the Skimm Money Future-Proofed newsletter. Your guide to Web3, rug pulls, Bitcoin’s origin, and more hits your inbox this Sunday. While you wait, catch up with last month’s issue here.

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