The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
A cost-of-living raise is an increase in pay that's intended to keep the buying power of an employee's salary the same during a period of inflation.he biggest group affected by cost-of-living raises is Social Security recipients. Some employees have contracts that include automatic cost-of-living raises. Others work for companies that voluntarily increase pay to keep pace with inflation.
That would be extra fuel for rising inflation, no pun intended. For those with an automatic cost-of-living-adjustment, a comfortable 3% change is in the cards for 2017, after consumers experience these rising costs changes in 2016. For those without an automatic cost-of-living adjustment, cross your fingers for a strengthening economy to help boost wages.