Part 1: 2016 — When Everyday Money Was Already a Balancing Act
By E.N. Towner | ETJourne
A Personal Beginning
Greetings, fellow bloggers, readers, and wealth builders!
It’s been a busy year here at ETJourne. From launching my YouTube channel, ENTowner Build a Legacy, Inc., to creating Eln’s Little Money Adventures, I’m moving forward with my vision.
Thank you for being a part of this journey.
It’s been 10 years since Journey into Finance was published, and I wanted to travel down memory lane with you.
Let’s start with a 10-year review, and honestly, it’s been one heck of a ride!
Are you ready?
Well, let’s go!
2016: When Everyday Money Was Already a Balancing Act
Do you remember what life was like in 2016?
Think about it for a moment.
Where were you living? What were you earning? How much did you spend on groceries? Were you saving money, paying down debt, or simply trying to make it from one payday to the next?
For some households, 2016 may seem like a more affordable time compared with today.
But was it really?
Although many prices were lower than they are now, that didn’t necessarily mean families had money left over.
People were still juggling bills, managing debt, searching for better-paying jobs, and making difficult decisions about everyday expenses.
And for many families, financial stability was already a balancing act.
The Grocery Cart: How Far Did Your Money Go?
Let’s start somewhere familiar.
The grocery store.
But just how much have everyday essentials changed in price over the past ten years? Let’s compare.
How Much Did Everyday Essentials Cost?
| Item | 2016 | Sept. 2026 |
|---|---|---|
| Dozen eggs | $1.68 | $2.27 |
| Gallon of milk | $3.20 | $4.11 |
| Pound of bread | $1.37 | $1.83 |
| Pound of ground beef | $3.75 | $6.79 |
| Pound of coffee | $4.39 | $9.33 |
| Gallon of gasoline | $2.14 | $4.48 |
In 2016, a trip to the supermarket could look very different from one today.
You might remember walking through the aisles with your shopping list, comparing prices, checking weekly advertisements, and looking for sales.
Some shoppers used paper coupons. Others were beginning to rely more heavily on digital coupons and store loyalty programs.
But one thing hasn’t changed.
Families still had to figure out how to stretch their grocery budgets.
For households with children, the shopping list could include cereal, milk, bread, eggs, meat, vegetables, school lunches, and household necessities.
For older adults or people living on fixed incomes, every dollar mattered.
And even when prices seemed reasonable, buying everything a household needed could be difficult.
Here’s something worth thinking about:
If your grocery bill was lower in 2016, did you actually have more money available, or was your income lower, too?
That’s an important distinction.
Looking at prices alone doesn’t tell the whole financial story.
We also have to consider what people earned and what other expenses they were responsible for paying.
Working Hard Didn’t Always Mean Getting Ahead
In 2016, the federal minimum wage was $7.25 per hour.
That amount had remained unchanged since 2009.
Imagine working 40 hours a week at that rate.
Before taxes, a worker would earn approximately $290 per week.
That’s about $15,080 annually, assuming 52 weeks of full-time employment.
Now consider the expenses that paycheck might need to cover.
Rent. Utilities. Transportation. Food. Clothing. Insurance. Childcare.
And let’s not forget unexpected expenses.
A car repair, medical bill, or reduction in work hours could quickly disrupt a household budget.
Of course, wages varied across the country, and some states had higher minimum wages.
But the larger issue remained.
Having a job didn’t automatically guarantee financial security.
Many people worked hard while still struggling to build savings.
Housing: The Bill That Couldn’t Wait
Housing was another major concern.
Whether someone rented an apartment, owned a home, or lived with family, housing expenses often consumed a significant portion of household income.
Rent wasn’t the only cost.
There were utilities, repairs, insurance, and sometimes transportation expenses associated with where a person lived.
For renters, an increase in monthly rent could mean having to adjust the grocery budget or reduce other spending.
For homeowners, maintenance and unexpected repairs could create financial pressure.
And for people living on fixed incomes, even relatively small increases in expenses could be difficult to absorb.
The question wasn’t simply whether housing was cheaper in 2016.
It was whether households could comfortably afford it with the money they had available.
Food Pantries and Community Assistance
When we talk about financial history, we shouldn’t overlook the people and organizations that helped families make ends meet.
Food pantries, soup kitchens, churches, and community organizations provided important assistance in 2016.
For some households, visiting a food pantry helped bridge the gap between paychecks.
For others, community meals provided relief when grocery money ran short.
These resources remind us that financial hardship didn’t suddenly begin with the economic disruptions of 2020.
Many families were already struggling long before then.
And their experiences deserve a place in our financial history.
Banking, Technology, and Debt
By 2016, banking was becoming increasingly digital.
Consumers could check account balances, transfer money, and deposit checks using their smartphones.
Online shopping and digital payment services were also changing how people spent money.
But greater convenience didn’t eliminate financial challenges.
Consumers still faced overdraft fees, account charges, credit card interest, and concerns about financial security.
Credit cards offered purchasing power, but carrying balances could make purchases more expensive over time.
Technology was changing how people accessed and spent their money.
Understanding how money worked remained just as important as ever.
2016: A Personal Milestone
For me, 2016 holds special meaning.
It was the year my book, Journey into Finance, was published under my author name, E.N. Towner.
But my journey didn’t begin with that book.
I had already established ENTowner Build a Legacy, Inc. before its publication.
The book became another step in a larger vision: helping people understand money, learn from their experiences, and prepare for life’s financial challenges.
Because financial education isn’t simply about numbers.
It’s about confidence, independence, preparation, and opportunity.
Ten years later, that vision continues through ETJourne, my writing, podcast, and YouTube projects.
Organize • Prepare • Build.
Those words remain central to my work.
Looking Back—and Moving Forward
Was life financially easier in 2016?
For some people, perhaps.
But affordability involves more than comparing prices.
We also have to consider income, employment, housing, debt, and the responsibilities people carried.
That’s why this series isn’t just about inflation statistics.
It’s about the people behind the numbers.
The parents balancing household budgets.
The workers stretching their paychecks.
The older adults managing fixed incomes.
And the families relying on community assistance.
Their stories are part of our financial history, too.
Now, I’d Love to Hear From You!
What do you remember about your finances in 2016?
Were groceries more affordable? Was your rent manageable? Were you saving money or struggling to make ends meet?
Do you believe your money went further in 2016 than it does today?
Share your memories in the comments.
Coming Next: 2017
Our journey continues as we explore another year of household expenses, wages, banking developments, and everyday financial challenges.
Because understanding where we’ve been can help us prepare for where we’re going.
Until next time,
E.N. Towner
ENTowner Build a Legacy, Inc.
Organize • Prepare • Build.
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