New Year 2020 is here. Party-time is over and its time to look ahead and plan your financial life for the next 12 months. As always, a lot of things will change going into the New Year, starting with several services that will get expensive and you will need to pay more. The Indian Railways has announced a hike in train fare while car rates too have been hiked as confirmed by manufacturers. Here is a look at three services that will cost you more in 2020 -

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1. Train tickets - The Indian Railways Tuesday announced an increase in train fare. It announced a 1 paisa/km hike in fare for ordinary trains, 2 paise/km hike in fares of non-AC mail and express trains. A hike of 4 p/km was announced in AC classes fare. The hike is also applicable to Shatabdi and Rajdhani trains, Railways said. No excess train fare (difference of fare) will be charged from passengers who have booked tickets before 1st January 2020.

2. LPG - The Liquefied Petroleum Gas or LPG has seen a price hike for fifth consecutive month. The price of non-subsidised cooking gas has been hiked to Rs 714 as against Rs 695 in December 2019 in Delhi. The price of the 19 Kg cylinder went up by Rs 29.50 to Rs 1,241 from Rs 1,211.50 in the previous month. In Mumbai, the 14.2 kg LPG cylinder will now cost Rs 684.50 per cylinder instead of Rs 695 per cylinder.

3. Cars - Not just necessity, luxury will cost you more as well. Maruti, Tata and Hyundai have increased the car prices due to the implementation of BS-VI. Mahindra and Mahindra is also planning to raise prices.

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Apart from these services, passengers running without FASTag after January 1, 2020, will be charged twice the normal rate at the toll gates. The deadline for full rollout of FASTag across lanes of national highway toll plazas has been set as January 15, 2020.

Electronic appliances like refrigerators and ACs are also set to become expensive. According to Consumer Electronics and Appliances Manufacturers Association CEAMA, prices can go up by at least Rs 5,000 to Rs 6,000 because a vacuum panel has to be installed in 5-star refrigerators.