INDIANAPOLIS (WISH) — Here is a look at Tuesday’s business headlines with Jane King where she discusses the best states to retire in, back-to-school shopping, and more.

Delaware is the best place to retire, Indiana ranks 23rd

The best state to retire in the U.S. is also one of the smallest, according to a new ranking.

Based on its high marks for affordability, access to high-quality health care, overall well-being, and other categories, Delaware, the first state, earned the top spot in Bankrate’s annual ranking of the best states to retire in the U.S.

In 2023, the state ranked no. 2, behind Iowa. Bankrate puts Indiana as 23rd-best retirement state.

The Hoosier state lost some points in the wellbeing category but gained in affordability.

Families will spend less on school supplies due to high costs

Back-to-school spending per child is projected to be $586, with overall market spending reaching $31.3 billion, according to a recent survey from Deloitte.

Low- and middle-income families will spend less on back-to-school supplies for their kids this year than in 2023, down 4% and 9%, according to the survey.

Families are shopping earlier with 66% of planned spend by the end of July compared with 59% last year.

Teens are getting jobs to help parents due to inflation

With expenses on the rise, USA Today says more teens are getting jobs to help out parents who are feeling the financial pinch.

Teens are helping contribute to household expenses including rent, and groceries, or to cover their own pricey expenses like their cell phone bill, clothes, and shoes.

The latest jobs report shows the number of those working ages 16 to 19 was up nearly 3% from last year.

More Americans are getting rid of cars

Walks and bike rides are looking more appealing these days as the cost of car ownership gets more and more expensive.

Triple A says the cost of owning a new car is about $12,000 per year when you factor in car insurance, gas, and maintenance. Also, car insurance costs alone are up more than 50% over the past four years.

Although more Americans are opting to live car-free, it’s hard to tell just how many people are changing their lifestyle

McDonald’s to extend $5 value meal

Mcdonald’s will extend its $5 value meal in most U.S. Markets, saying the deal is helping to boost traffic.

Mcdonald’s is extending the promotion as rivals such as Burger King and Starbucks offer deals to entice diners and boost traffic.

Mcdonald’s $5 deal includes a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink.