How about your personal finances in 2018?

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When it comes to their finances, no one wants to be vigilant. So the ap asked several experts to share their opinions on what will happen to some of the key issues of 2018, which will directly affect your personal finances. Here are their predictions:
Q: what should I get from gas prices?
A: historically, gas prices remain low in 2017 and are fairly stable in 2017. But according to Tom Kloza, head of global energy analysis at the oil price information service, 2018 could be even worse.
Kloza estimates that the average price of regular gasoline will rise to $2.39 a gallon by the end of 2017. A typical household may consume 90 gallons of regular gas per month, so their cost for 2017 is about $215 per month.
Overall, Kloza expects the national average price to rise to around $2.45 in 2018. That’s well below the $3 a gallon that americans faced between 2011 and 2014. Just like every year, the prices of every region and every season vary widely.
Still, a hurricane or recession could disrupt the best estimates.
Q: what will be the job market in 2018?
A: the current strength of the job market should last until 2018. This is especially true if you’re in high-demand areas like health care, technology or e-commerce, says Andrew chamberlain, chief economist at Glassdoor.
“Today’s labor market is likely to be the most intense part of a generation, so workers are bargaining with employers,” chamberlain said.
Companies in high-demand areas should provide pay rises and other incentives to help attract and retain employees. Those who are not in high demand areas may also improve their working conditions.
Experts such as chamberlain warn workers not to be complacent about the long-term expansion of the U.S. economy. As the economist said: time is good until it is not. ‘it’s a good time to save money by saving money to prepare for a downturn,’ says Ms. Chamberlain. ‘put aside your resume and keep your handy list of accomplishments.’
Q: how about tax changes?
A: this is a big question mark for many people. Congress on Wednesday passed and waited for President Donald trump’s signature tax reform bill to take effect in 2018.
You can almost immediately see your salary deducted. The irs said earlier this month that it was closely monitoring the bill, and that a preliminary withholding tax guidance was expected in January, and that taxpayers could start seeing the benefits of change in February.
But starting in the spring of 2019, before the tax rate is complete, other big reform measures – such as lowering taxes or eliminating some deductions – will not be obvious.
In general, legislation reduces taxes on the wealthiest americans and cuts taxes for most other countries. Personal tax cuts are temporary and expire in 2026. While the standard deduction used by most americans is double, it will end in eight years.

Q: will wages rise next year?
A. In A word: most likely.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the tight Labour market was expected to remain tight. That means it will be hard for companies to find and retain workers, which in turn may raise wages.
The U.S. unemployment rate has fallen to a 17-year low of 4.1%, and the economy is growing well over 3%. But Mr. Shepherdson and other economists argue that the period of growth is nearing an end, and that it is usually the time for workers to get the best returns.
He described next year as a “sweet spot” for people to get raises and make them feel better.
The only way to get out of this low unemployment rate is to boost wages if there are a lot of former employees trying to rejoin the workforce.
“It’s possible, but it’s very low risk,” he said. “If we’re going to see a huge surge, we’ve seen it now.”
Q: how will the housing market be formed in 2018?
A: Ralph McLaughlin, chief economist at housing website Trulia, said that this year’s turbulent politics, natural disasters, will appear in the real estate market in 2018.
He said the enthusiasm for buying a home would be lower and the sales enthusiasm would be higher. That would help mitigate two of the biggest obstacles to the current market: low inventories and high prices.
However, after a series of hurricanes, wildfires and floods this year, demand for homes vulnerable to natural disasters will be reduced.
The tax plan will also have a geographical reaction. Excluding household interest and property taxes could discourage expensive and high-tax areas such as the North-East and much of the west. However, a sharp increase in the standard deduction would help stimulate demand in the Midwest and south, as few mortgage and property tax bills are large enough to warrant a deduction.
Trulia expects prices across the county to rise as the market begins to balance. Rents will rise even further for renters, but rents will rise more slowly because of new construction.



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