How to use that COLA increase
With the good news that Social Security beneficiaries will be getting a 2.8% raise next year, you may be wondering how you might best use that additional income. The average increase will be about $39 per month, or $468 per year, and the average married couple can get twice that amount. But rather than just spending the extra cash, you may want to give some thought to padding your emergency savings, investing it or taking care of any repairs that you’ve been putting off, as suggested in this Motley Fool article by Maurie Backman. Click here to read more.