As the new year begins, consumers can expect significant changes to their wallets. According to experts, four major financial shifts are on the horizon.
Firstly, minimum wage increases will affect workers across 21 states, impacting millions of Americans. Additionally, mandatory student loan payment resumption is expected to resume in 2024, adding tens of billions of dollars to individual debts.
Two more key changes include a new $2,000 annual cap on Medicare drug costs and an increase in the income threshold subject to Social Security tax. These adjustments will directly impact consumers’ financial situations and expenses.
Stay tuned for expert insights and analysis on these market trends at Wealth.
Source: https://finance.yahoo.com/video/heres-finances-could-change-2025-164511296.html