In 2012 there are 6 things that will cost you more money. This will raise the cost of your personal lives as well as the costs to run your business.
1. Airfare- A finance professor at Northeastern University’s College of Business Administration in Boston is projected at 10% to 15% rise in the cost of airfare.
2. Restaurant Dining – at least for meat and fish. Food prices in general are expected to rise 4% in 2012 after an 8% increase in 2011 – meat and seafood prices will rise more. These price hikes will take their toll on already cash-strapped consumers and they will add costs to running your business if you like to take employees out to lunch or bring in catered food for your company, customers & prospects.
3. Coffee – Expect an 18% rise in the cost of coffee in 2012. This is an important staple for just about any business – its the fuel of productivity after 2:00 in the afternoon.
4. Gas – Gas prices are poised to go up substantially in the months ahead – especially due to tensions with Iran and in the middle east. Gas prices will easily hit $3.50 per gallon this year.
5. Mail – Starting on Jan. 22, the cost of a first-class stamp will rise to 45 cents, priority mail prices will jump 3.1% and the cost of using express mail will jump to 3.4%.
6. Clothes – Expect an 8% to 10% rise in the cost of clothes in 2012.
What can actually decrease in cost for you in 2012? Mechant Services. With the passage of the Durban Amendment most companies can find up to 30% savings in merchant services credit & debit card processing costs in 2012.
