NEW YORK (1/6/15)--Gas prices are tumbling and inflation is almost sitting still. You probably hope it's going to be a great year for your wallet. It will be, if you pay attention and make adjustments to your spending habits (CBS News Jan. 1).
Prices still are climbing on some consumer products and services. Global demand, packaging and transportation costs, the price of raw ingredients and manufacturers' need to catch up on past losses are just a few of the reasons.
Here are eight areas to keep an eye on:
Many of these items can be classified as "wants" rather than "needs." If you and your family are willing and able to plan air trips carefully, monitor electricity use, be careful with grocery expenses, modify or give up some indulgences, and change your movie habits, your household budget can still catch the break you'll get from cheaper gas and low inflation.
For related information, read "Shop and Save in Every Season" in the Home & Family Finance Resource Center.