How to survive holiday travel
Happy Thanksgiving to my American readers.?
Where are you heading for the holidays??
AAA projects 79.9 million Americans will travel 50 miles or more from their home over Thanksgiving, an increase of 1.7 million over last year. Transportation Secretary Pete Buttigieg says this could make for some of the busiest travel days in American history.?
At airports, the crowds will put a lot of stress on the system: Security lines, staffing shortages, equipment snafus, potential delays and cancellations.
But there is good news for consumers: New rules and regulations are designed to make it easier for travelers to get compensated when things go wrong.
Shop until you drop?
A record 183.4 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, up from 182 million last year, according to the National Retail Federation, a U.S. trade group. Executives from five U.S. specialty retail chains described plans to draw people to stores.
But executives at four retailers said in conference calls with investors that either they – or shoppers – were "cautious" or approaching the holidays "prudently." Overall, retailers anticipate the slowest growth in holiday season sales since 2018 as shoppers continue to wrestle with high prices. It’s also a shorter holiday shopping season.
To lure consumers, companies like Target are cutting prices on thousands of essential and gift items ahead of the holiday season.?
But inflation is still a huge hurdle. Deloitte’s 2024 holiday retail survey found that 70% of consumers expect to face higher prices this year, so they're being especially frugal.
I’ve been eyeing some holiday items, but I’m also parking them in my online shopping cart, just in case better deals emerge.?
Do you have any shopping tricks to share on ways to save? Where are you finding the best deals? Write to me at [email protected].?
And, for the latest retail and consumer news, be sure to bookmark our Retail & Consumer page.
Reuters Poll ??
In our last poll, we asked readers how much they plan to spend on Thanksgiving. More than 80 percent of respondents said they expect to spend less than $400, while 11% project a Thanksgiving tab exceeding $600. You can see the full poll results here.
And now for this week’s poll: How much do you plan to spend combined on gifts, hosting, travel and other related costs this holiday season??
Take our poll here.
Read this before you pick your Medicare plan
The ins and outs of Medicare are always tricky.??
Medicare Advantage plan marketers are trying to capitalize on changes that take effect next year in Medicare’s Part D prescription drug coverage.?
If signed up for traditional Medicare with a standalone Part D plan, you may find your premium jumping or see changes in deductibles or cost-sharing arrangements. That means it is important to re-check your coverage this autumn if you are in a standalone plan.?
The same is true if you have a Medicare Advantage plan with drug coverage wrapped in with no extra premium – the terms of that drug coverage may be changing, too.
A$K LAUREN
Are you wondering if you should buy life insurance? Do you need to find money to cover an unexpected emergency? Send your personal finance questions to [email protected], and I'll tap my extensive source network and braintrust for expert advice.
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