The Daily Money: Year-end bonus checks were lighter in 2023
Good morning! It's Daniel de Visé with your Daily Money.
That year-end bonus you banked last month may have felt both affirming and underwhelming. December bonuses averaged $2,145 in 2023, down from $2,730 in 2022 and $3,583 in 2019, according to a report released this month by Gusto, a payroll software firm.
Bonus checks are smaller because the job market is relatively stable, the report said, which means employers don’t have to do as much to attract and retain their workers. And employers are feeling the pinch of inflation, just like their employees.
If you were lucky enough to land a year-end bonus, you need to think now about how the pay bump might affect the taxes you pay in 2024. And if you haven’t already spent the bonus, you need to consider what to do with the extra cash. We'll tell you how to proceed.
In search of a better deal on prescription drugs
Prescription drug prices are weighing down Americans.
The United States' per capita pharmaceutical spending was more than $1,400 per person in 2022, Bailey Schulz reports, higher than any peer nation, according to the Organisation for Economic Co-operation and Development. (Yes, that is its name: Continental spelling.)
For some Americans, the cost is simply unaffordable. About 30% of Americans said they haven’t taken their prescribed medications at some point in the past year because of cost, opting instead for over-the-counter drugs, cutting doses or skipping doses altogether, according to a 2023 poll of more than 1,000 adults from nonprofit health policy organization KFF.
But experts say patients can lower their prescription drug costs by shopping around, especially if they are taking generic medications.
“It’s unfortunate that you have to be a pretty astute consumer and patient these days to navigate the system,” said Geoffrey Joyce, an associate professor in the University of Southern California’s department of pharmaceutical and health economics.
Read Bailey's story to find out where to look for cheaper drugs, and other ways to save costs on prescriptions.
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Date night at Applebee's, as it turns out, is a coveted thing.
The restaurant chain sold out a limited run of $200 date night passes within a minute on Monday, the day they were officially released for purchase.
The pass, sold exclusively online, gets customers $30 off more than 50 meals at any Applebee’s location through 2025, Amaris Encinas reports.
The “excitement and demand from guests for Applebee’s Date Night Pass far surpassed our expectations,” an Applebee’s spokesperson observed.
The restaurant chain did not say how many date night passes were sold -- but hinted at a five-figure sum.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.
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