The holiday is over.
Many people around the QCA will open up their first paychecks of the year this week and notice, well, something missing.
The reason?
Remember that whole fiscal cliff thing? Well, technically we averted it but there was one small matter that hasn't been discussed in awhile.
A small, but significant 2% increase on our social security payments.
After the new year, we ended a 2 year tax holiday, taking our paycheck amounts form 4.2% to 6.2%.
And for many, this will make a difference.
"Rent will be kinda hard to pay," says Jennifer Gann of Davenport. "And gas to get back and forth to work will be kinda hard too."
And she isn't alone in her sturuggles.
For someone making $30,000 per year, they will see an extra $800 coming out of their paycheck.
At $50,000, that goes up to $1,200.
Emily Kuhn of Davenport was in sales for 15 years before she decided to go back to school this past year.
"I also have three part time jobs. This will effect me in all three paychecks."
And now, opening her checks THIS week, she has noticed something missing.
"To be honest, I thought maybe I had miscalculated what I expected my checks to be," Kuhn says. "But once I started to think about I noticed it was more than just a mathmatical error on my part."
So along with cutting any sort of luxury items, Kuhn says she will have to adjust her plans for vacations as well.
Because while the money missing is small, every peny adds up.
"Something like $50 every single week over 52 weeks.. It's a pretty substantial chunk of change."
