USPS R​​ates Will Increase Again in January 2024 -- for the 6th Time Since 2019

On Oct. 6, 2023, the United States Postal Service (USPS) notified the Postal Regulatory Commission (PRC) of upcoming postal service price changes. If the price hikes are approved, consumers will pay more for several mail products and services beginning Jan. 21, 2024. Exact price changes vary by product, but consumers can expect price increases of around 2%.

USPS prices are set to rise again in January

If it feels as if the USPS has been increasing postage rates more frequently in recent years, you're not imagining it. The agency last increased several postal rates in July 2023, after raising rates in January 2023. Unfortunately, it will soon cost even more to send letters and postcards.

On Oct. 6, 2023, the USPS announced that prices would rise again on Jan. 21, 2024. This is the sixth price increase since 2019. This will impact the personal finances of anyone who frequently sends mail through the USPS. Here's an overview of the proposed price changes:

You can do this to save money on postage stamps

Since the rate for 1 oz. letters are increasing, Forever Stamps will also cost more. As the name suggests, Forever Stamps can be used forever, regardless of future price hikes. That means anyone who purchased Forever Stamps years ago for a lower price can continue to use their stamps now.

While a $0.02 price change may not sound like a big deal, it can add up if you frequently send mail through the USPS. Stocking up on Forever Stamps before the rate hikes go into effect in January is wise. I recently ran out of my never-ending collection of Forever Stamps, so I plan to buy more in the coming weeks.

Are you looking for a way to get a deal on stamps? You can purchase stamps at warehouse clubs like Costco and Sam's Club if you have a valid membership. However, the savings are minimal. Both retailers sell 100-count packs of Forever Stamps for $65.75.

That means you'll only save $0.25 for every 100 stamps you buy. But if you plan to buy several hundred stamps, buying them at a warehouse club may be worthwhile. Otherwise, you can go to your local Post Office or USPS.com to purchase stamps soon to lock in the current rate.

Credit card rewards can defray rising costs

Price increases for everyday products and services are a regular occurrence. Increased costs can significantly impact our bank account balances. While we can only do so much about price changes, we can control how we pay for products and services.

One way to ease the strain of rising costs is by using rewards credit cards to pay for everyday purchases. You can earn rewards when you spend money with your credit cards.

With one of the best cash back credit cards, you can earn cash back and later deposit your cash into the bank. Don't miss out on the chance to earn valuable credit card rewards.