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A lot can change in seven years – especially the seven years between 2019 and 2026. Between the global pandemic, changes in presidential administrations, and dramatic shifts in the global economy, many people have noticed big differences in everyday spending since 2019.
These changes may seem almost too big to fully grasp. So I turned to ChatGPIT, and asked the AI to compare everyday expenses from 2019 to 2026. With that insight, I also wanted to understand what middle-class families like mine can do to successfully manage these changes.
cost of food
If the price of eggs has you worried you’re not bringing home enough bacon, you’re not alone. Food prices have increased rapidly. ChatGPT divided these increases into two categories: meals at home (groceries) and meals away from home, which includes restaurants and prepared foods.
“A bundle of grocery items priced at $20 in 2019 will be worth approximately $31.05 in 2026 – an increase of approximately 31% in the purchasing power required for the same items,” ChatGPT said.
A similar increase has been seen in eating out. Broad food inflation pushes prices nearly 30% higher by 2025, with restaurant prices still rising faster than grocery prices in early 2026.
housing and shelter
This news won’t shock anyone who has recently tried to rent an apartment or buy a home.
“Rent and housing-related costs have increased faster than general inflation,” ChatGPT said. “Primary housing rents have increased by nearly 30% since 2019.”
While home prices and mortgage rates have fluctuated, shelter remains one of the most significant and unavoidable cost increases for renters and homeowners — and one of the hardest expenses to cut.
transportation and auto costs
For many people, car ownership is a symbol of personal and financial freedom – a reliable way to get to work, school, and essential errands. But owning and maintaining a car has become more expensive.
ChatGPT highlighted several ways in which daily transportation costs increase:
- Motor vehicle insurance has increased by approximately 56% since 2019, making it “one of the largest increases among everyday categories”.
- Vehicle maintenance and repair costs have increased by approximately 49%.
- Despite falling short of the 2022 peak, prices for used cars and trucks are up about 34 to 35% from pre-pandemic levels.
“Even though fuel prices have fluctuated, insurance, car payments and maintenance remain quite expensive,” ChatGPT said.
Utilities and Home Services
Wherever you live, you have to turn on the lights. Over the past seven years, utility and home service costs – some of the most frequent household expenses – have increased significantly.
“The cost of utility gas service increased approximately 49%, and electricity prices increased approximately 40% to 45%,” ChatGPT said.
Unlike discretionary spending, utilities offer limited flexibility, making these increases particularly painful for families already burdened by high housing and food costs.
How can middle-class families handle rising expenses?
Understanding where everyday costs have risen the most is only part of the equation. It is equally important to explore how households can adapt, especially since prices are unlikely to return to 2019 levels.
Attack the biggest monthly bill first
ChatGPT emphasized the need to focus on the expenses that move the needle the most.
For example, shop for annual home, renters or car insurance. Negotiate lower rents at lease renewals when possible, pursue safe-driver or bundling discounts, and enroll in budget billing programs with utility providers to smooth out seasonal spikes.
Adopt an ‘audit and cancel’ mentality
Reviewing and cutting unnecessary recurring expenses is one of the simplest ways to regain cash flow. ChatGPT suggests auditing items such as:
- Streaming Services
- Membership
- app upgrade
- gym membership
- premium phone plans
“Many families receive $100 to $400 per month in unused or overlapping services,” AI said.
Make smart spending and saving a family affair
As parents adjust their budgets, many also want to teach their kids how to manage money — not just to deal with today’s price increases, but to create family habits that will last for the next seven years. Challenge: Reaching the digital-first generation.
Kids today are more likely to use online banking and apps than cash envelopes or piggy banks. Leaning into that reality can help families turn everyday expenses into real-world financial lessons.
There’s also another immediate benefit: When children understand why choices are made, it can relieve some financial pressure on parents right now. When everyone in the household has a clear picture of how much things cost — and what saying “yes” to one purchase means for something else — conversations about spending become more collaborative and less stressful.
For example, the popular money app Cash App offers a “Famelise’ facility It lets parents sponsor teen accounts, giving kids hands-on experience using debit cards, saving money, sending money, and even investing – all with built-in oversight and real-time transaction visibility for parents.
Using these tools together can help kids see money not as an unlimited resource, but as a limited one, which can naturally reduce impulsive spending and frequent asking. That shared understanding can make higher prices easier to manage in the short term, while also providing parents and kids with plenty of opportunities to have honest conversations about money, budgeting, and smart spending — skills that will serve them for years to come.
bottom line
As Bob Dylan explains, times have really changed in the last seven years. Everyday expenses such as food, housing, transportation and utilities have increased significantly since 2019, leading to changes in families’ budgeting and planning.
While higher prices may be the new normal, thoughtful adjustments, from cutting recurring costs to adopting better money habits as a family, can help families remain resilient and better prepared for whatever the next seven years bring.