Happy New Year! Now that 2012 is behind us, here are a few things consumers can expect in 2013:

  • Higher grocery bills. You could see your grocery bills rise 3-4 percent in 2013, due to higher feed costs.
  • Increase in bank overdraft fees. Banks are looking for additional ways to raise revenue. Look for them to jack-up overdraft fees and charges for using out-of-network ATM's.
  • Luxury items will be more expensive. Items like smartphones, cars and other luxury goods are predicted to be more expensive in 2013.
  • Copper prices will continue to rise. Due mostly to the fact that copper is used in several consumer products like wire, pots, water pipes and industrial equipment to brew beer.

It's not all bad news however. There are a few things that should help make you smile in 2013. For instance:

  • New regulations on debt collectors. As of January 2nd, the Consumer Financial Protection Bureau will regulate the country's large debt collectors. Resulting in reduced harassment, deception and other illegal tactics to get people to pay.
  • Home buyers will have a reason to be happy. Mortgage rates are expected to remain low in 2013.
  • Gas prices should continue their slow decline. The national average for a gallon of gas in 2013 is expected to be around $3.43. Which is down from 2012's average of $3.63. Hey, it was $2.97 a gallon in Sioux Falls when I filled up this morning! Party!!!