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.
General living expenses. We estimate that in 2012 Australian Households will have spent a total of $642 billion on general living costs including: 1  $11.7 billion a year on meat versus $2.4 billion a year on seafood. 2  $14.1 billion a year on alcohol versus $1.1 billion a year on tea and coffee.