Has sending something through the good, old-fashioned Post Office become this quaint?
This week the U.S. Postal Service reported that it lost $2.2 billion in its most recent quarter which puts it on track to lose about $7 billion by September, CNN Money reports. Massive money loss is a trend the institution has been grappling with for years as more people turn to electronic means of correspondence. In the fiscal year 2010, the Postal Service reported a net loss of $8.5 billion.
The news comes less than a month after the Postal Service announced that some mailing costs will increase. A stamp for a first-class letter that weighs less than an ounce will remain 44 cents while the price to send parcels and magazines will be affected. Sending letters and packages to various countries will cost more. Dive deeper in your couch for that extra penny if you want to mail a postcard because doing so will soon cost 29 cents.