The global supply chain is disrupted. Shipping ports are congested. Companies are contending with labor shortages. Security measures and mandates to combat COVID-19 have slowed down transportation in multiple locations.
All these factors mean that shipping delays are inevitable at the moment. If youre not in the shipping industry, you might wonder why this news is important to someone like you. The truth is, these delays can have a huge impact on your day-to-day life. Heres how.
Longer Wait Times
Naturally, shipping delays will mean longer wait times for any products that youve ordered. These wait times arent just frustrating for people who want to order a birthday gift at the last minute theyre downright stressful for people waiting on essentials to arrive in the mail.
For instance, this year, shipments for EBT cards were delayed in several states including Louisiana. People need these cards to access the Supplemental Nutrition Assistance Program benefits at authorized retailers. Without them, they may not be able to afford groceries.
Sparse Shelves
At the beginning of the pandemic, grocery shelves were sparse because people were panic-buying supplies like toilet paper, dried pasta and frozen pizzas. Now, the shelves are sparse because of shipping delays.
This supply chain issue is causing stores to miss out on their usual stock of products. Grocery stores arent the only ones hit by shipping delays. Book stores, clothing stores, furniture stores and even pharmacies are dealing with supply shortages at the moment.
If youre worried about running out of your medication, you can check to see the FDAs list of ongoing drug shortages and discontinuations. If any of your prescriptions are sitting on the list, talk to your doctor.
Higher Prices
Finally, shipping delays have a direct impact on product prices. Expect products to cost much more than they did last year. A clear example of these price hikes is with vehicles. Shipping delays for vehicles and vehicle parts have pushed dealerships to hike up their prices.
If youre planning on buying a car, you might get sticker shock when you walk onto a dealership. Since new vehicles are in short supply, the demand for used vehicles is high.
Prepare to pay a lot of money for an old model and fend off other buyers trying their best to out-bid you. And if that used vehicle needs repairs, you can expect those to cost more, too. Shipping delays on vehicle parts mean mechanics are charging their customers more.
What Do These Price Hikes Mean for You?
It means that you should take the initiative to adjust your budget to accommodate these higher prices. Not adjusting your budget could be a problem. You could easily underestimate how much youll spend and drain your checking account before your next payday.
And worse you could leave yourself with no money for surprise expenses, like a pricy car repair.
If youre ever in that position, you could turn to a line of credit loan for help. With a line of credit loan, you could use borrowed funds to cover the surprise expense quickly and then manage repayments later.
Check to see whether the option is available in your state before you apply! So, people who live in Little Rock would want to look into loans in Arkansas through CreditFresh for an emergency. People who live in New Orleans will want to look for loans in Louisiana. Essentially, you dont want to make the mistake of looking into an inaccessible loan!
As you can see, shipping delays have been impacting your life and your wallet.
