If you walk into a post office, as many of you might have done over the holidays, you might notice something called Forever stamps. Introduced in 2007, the Forever stamp is intended for one-ounce envelopes or letters. Why the name Forever? Well, once you purchase them, you can put them on a one-ounce letter or envelope any time in the future, even if the cost of stamps goes up! Nice, right?
That might not seem like much, but if you send hundreds of letters a month, it can add up to a pretty decent amount. Let’s say you send ten thousand letters a month … well, with the new fifty-five cent price, it will now cost you five hundred dollars more!
Why is the USPS increasing prices? Because for the past twelve years, the post office has been making less and less money. Even though many packages are getting shipped, the agency claims that rising transportation costs along with the cost of pension and health care for its workers are causing the agency to lose money. In fact, the USPS suffered a $3.9 billion loss in 2018!