We have begun a new day in this country. During the last election the question was asked, “Are you better off than you were four years ago?” A legitimate question for each of us to ask ourselves. I believe the question is supposed to invoke the response, “No, I am not!” And considering the last five years since Covid changed most everything, it is easy to say we are paying more for everything in our lives.

The question really should be, “Did the Federal Government cause the increase in cost, or did the situation with the disruption to our economy by the worldwide pandemic cause it?” The real answer will take a few years for historians and economists to decide. For the present time, the political pundits will tell you it was the Democrats and President Biden. The other side will tell you the Republicans are the cause by making the rich… richer. I tend to think for the most part the economy is like riding a bike downhill, the only thing we can do is hold on and hope we’ll make a soft landing at the bottom.

If you are like me for the past dozen years, I have heard the better off question many times and I don’t know the answer. Heck, I cannot even remember what my cost for everyday items was last week, let alone four years ago. So how do I legitimately answer that question in four years.

I decided that the only way to know for sure when asking that question, is for myself to have made a list of everyday items and their cost. So, when I went into the store, I took time to look into people’s shopping carts in the food section. What did I see? Milk, United, $4.19, eggs 12 Large $6.72, bread, Wonder, $2.92, Pepsi 24 count, $11.92, canned green beans Libby’s 98¢, Bounty paper towels, 2 triple rolls $6.07, Cottonelle toilet tissue 12 pack $12.98, Dawn laundry soap liquid, $9.49 and a 43-inch television, $148.00. Outside the store I checked out the prices of gasoline, $2.61, a simple cheeseburger $3.29 and the buffet at a local restaurant $12.59. The cost of electricity per unit, 16.94 cents per kilowatt-hour. The average price for Natural Gas is $3.28 MCF. Stock exchange, S&P 5,990.66, Dow Jones Industrials Average, 43,487.83 and Nasdaq Composite 19,630.20. These numbers will only be good if you have money in stocks or 401Ks. Throw in the price of gold per ounce. $2790.00

If you are on a fixed income, you know your monthly number. Each year the Federal Government updates the cost-of-living and adjusts your monthly check by using a formula that benefits them. In four years take the same government numbers, look up the inflation factor and the annual increase in Medicare. That way you can see if the cost of living kept up with your raise and increase in Medicare cost. Real numbers that impact your life.

In a few days you will be receiving a W-2 if you are employed. Record the year’s wages and the taxes and S.S. Number. Do the same with the state. Once again in four years, go online and find the inflation number for each of the past years. Do the calculations to find if you are truly better off or just staying a float. One more number to record. Elon Musk’s current worth is 417 billion US dollars. See if his number has changed percentage wise the same as your numbers.

I could have put more into my cart, but these items should tell me if I am better off financially. You can add any items that will help you decide if you are better off. I would have added medication, but that is so specialized to each of us it would be hard to calculate. But I still wrote down my common medications just as a reference point. Of course you will have to add in the inflation factor, but that’s not too hard to calculate. After you have added them up, it is time to put the list away until January of 2029. At that time, you can check the price of the same items and do a comparison. This economic exercise is not hard and will not take much of your time. It also can be fun to see how the numbers change over the coming years. Think of it as a civics project. I will be grading on a curve. Four years from now when asked, “are you better off”, you will know the answer as you look back Through the Lens.