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	<title>Business &#38; MoneyCategory: Credit Cards &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>Business &#38; MoneyCategory: Credit Cards &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>7 &#8220;Smart&#8221; Credit Tips That Aren&#8217;t</title>
		<link>http://business.time.com/2013/05/06/7-smart-credit-tips-that-arent/</link>
		<comments>http://business.time.com/2013/05/06/7-smart-credit-tips-that-arent/#comments</comments>
		<pubDate>Mon, 06 May 2013 16:01:30 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[credit scores]]></category>
		<category><![CDATA[FICO]]></category>
		<category><![CDATA[Good Credit]]></category>
		<category><![CDATA[Raise Credit Score]]></category>
		<category><![CDATA[secured credit card]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=78922</guid>
		<description><![CDATA[There&#8217;s a lot of advice floating around out there about how to manage your credit cards and other debts to maximize your credit score. The trouble is, not all this wisdom is created equal, and some tips intended to help your credit can actually have the opposite effect. Here are seven supposedly &#8220;smart&#8221; tips we&#8217;ve heard bandied about recently that generally ought to ignored. Asking for a lower credit limit If you can’t control your spending, asking for a lower credit limit may indeed keep you out of trouble by simply capping how much you can borrow. But there&#8217;s also a risk to this approach. As MyFICO.com explains, 30% of your credit score is based on how much you owe. The formula looks at how much you owe as a percentage of how much available credit you have, otherwise known as your credit utilization ratio. So if you&#8217;re unable to pay off your debts, lowering your credit limit will increase your ratio &#8212; and damage your score. The impulse to impose external limits on your spending is understandable, and in some cases wise, but you&#8217;re better off focusing your energy on internal restraint. Paying off an installment account early Paying off debts early might seem like a good way to improve your credit, but paying off an installment loan like a car loan early can actually ding your score because it raises your utilization ratio. For instance, if you have a $10,000 car loan with a $5,000 balance that you pay off in one fell swoop, your debt load will drop by $5,000, but your available credit will drop by $10,000 once the account is closed. This isn&#8217;t to say you shouldn&#8217;t pay off a debt early if you find yourself with a windfall on your hands. An earlier payoff can save you a bundle in interest. But if you&#8217;re trying to raise your credit score, paying off a credit card rather than an installment loan is the way to go. (MORE: 10 Steps to Spring Clean Your Finances) Opening a<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=78922&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Credit Cards</primary_category><primary_category_link>http://business.time.com/category/saving-spending/credit-cards-saving-spending/</primary_category_link>
		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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	</item>
		<item>
		<title>4 Easy Steps to Raising Money-Smart Kids</title>
		<link>http://business.time.com/2013/05/03/4-easy-steps-to-raising-money-smart-kids/</link>
		<comments>http://business.time.com/2013/05/03/4-easy-steps-to-raising-money-smart-kids/#comments</comments>
		<pubDate>Fri, 03 May 2013 09:45:27 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=79091</guid>
		<description><![CDATA[Human beings may be destined to do everything the hard way. Consider teaching kids about money. Parents can do this quite simply, following a few guidelines. Yet few make any real effort, and we ask schoolteachers to fill the gap. Parents are hands-down the most influential force in any child’s life, and studies show that this extends to money management. Yet the money talk still doesn’t happen in about half of all households. Meanwhile, we have a global movement to bring financial education into the classroom. This effort has been clumsy at times though sorely needed. Too many kids go to college or get their first job without a basic understanding of budgets, debt, and saving. We ask the schools to address this need before the kids turn into bankrupt adults whose financial assistance boomerangs back on society. (MORE: Communication Breakdown: If You Think You’re Talking About Money, Your Kids Don’t Hear It) If only more parents took control, the lessons learned at school would resonate with what they hear at home and sink in to a greater extent. Jonathan Clements is one of the few parents I know that has made a big effort at raising financially literate children. A former personal finance columnist at the Wall Street Journal, Clements is now the director of financial education at Citi Personal Wealth Management. He started family money lessons at age 5 with his children, who are now twentysomethings with, he tells me, enviable money management skills. Clements believes there are four simple guidelines to raising money-smart kids: Make them feel like the money they spend is theirs One way to do this is pay an allowance, explain what the money is for and never give in when they ask for more. “The first rule of parenting,” Clements jokes, “is to never negotiate with terrorists.” With young children, play the soda game. When you eat out offer $1 if they drink water instead of a soft drink. It’s shocking how often they take the $1. Pay allowance to a bank account<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=79091&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/05/86015372.jpg?w=240</featured_image>
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			<media:title type="html">Piggy Bank Drawn on Blackboard</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/d69b05e696e822e7e41ae630be72226a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">dankadlec</media:title>
		</media:content>
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		<item>
		<title>Financial Independence? Today&#8217;s Young People Don&#8217;t Expect It Anytime Soon</title>
		<link>http://business.time.com/2013/04/04/financial-independence-todays-young-people-dont-expect-it-anytime-soon/</link>
		<comments>http://business.time.com/2013/04/04/financial-independence-todays-young-people-dont-expect-it-anytime-soon/#comments</comments>
		<pubDate>Thu, 04 Apr 2013 11:00:42 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Careers & Workplace]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Job Markets]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[The Economy]]></category>
		<category><![CDATA[adult children]]></category>
		<category><![CDATA[children]]></category>
		<category><![CDATA[college]]></category>
		<category><![CDATA[family]]></category>
		<category><![CDATA[financial independence]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=76494</guid>
		<description><![CDATA[In a mere two years, the proportion of teenagers who expect to be financially dependent on their parents until their mid-20s has doubled. That gives us all another reason to feel sympathy for parents who have teenagers right now.  A new survey conducted by Junior Achievement, a group that teaches kids about money and jobs, found that 25% of teens think they won’t be able to support themselves until their mid-20s. Two years ago, just 12% of teens surveyed said that they&#8217;d have to reach the 25-to 27-year-old age bracket before being able to pay all of their own bills. Correspondingly, the proportion of teens who expect to achieve financial independence by the ages of 18 to 24 has plummeted, from 75% in 2011 to 59% today. Are these kids just unmotivated? Maybe some of them are, but many more are facing escalating college costs and poor job prospects. An alarming number have a poor understanding of budgeting and basic finance as well. Plus, the old stigmas attached to relying on one&#8217;s parents well into adulthood, and even moving back home after college, seem to have faded. To make ends meet, Generation X crowded in with roommates, ate Ramen and slept on futons. Post-college millennials still have roommates, but they increasingly call them &#8220;mom&#8221; and &#8220;dad.&#8221; The number of young adults living with their parents spiked during the Great Recession era. Today&#8217;s teens apparently don&#8217;t mind the idea of moving back in with the &#8216;rents, or they at least understand the necessity of making such a move given the state of the economy and the likelihood of large student loans down the road. (MORE: Being 30 and Living With Your Parents Isn’t Lame — It’s Awesome) Providing a place to live isn&#8217;t the only way parents are helping out their adult children. In many families, it’s become the norm for parents to step in and pay bills for smartphones, Internet access, music and TV subscription services like iTunes and Hulu. A survey of parents with adult children up to 35<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=76494&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/04/137470615-e1365022434293.jpg?w=240</featured_image>
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			<media:title type="html">three teenage girls</media:title>
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		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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	</item>
		<item>
		<title>Communication Breakdown: If You Think You&#8217;re Talking About Money, Your Kids Don&#8217;t Hear It</title>
		<link>http://business.time.com/2013/03/28/communication-breakdown-if-you-think-youre-talking-about-money-your-kids-dont-hear-it/</link>
		<comments>http://business.time.com/2013/03/28/communication-breakdown-if-you-think-youre-talking-about-money-your-kids-dont-hear-it/#comments</comments>
		<pubDate>Thu, 28 Mar 2013 16:04:40 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Decision Making]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Giving]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=76041</guid>
		<description><![CDATA[Parents and teens often speak a different language. Adults probably are not meant to understand why you might chillax after calling out a busted wanksta. (Don’t ask.) But who knew that miscommunication could be so extreme when it comes to money matters too? Adults and youngsters can’t even agree on what constitutes a conversation about money, according to a new study. Some 73% of parents say they talk regularly with their kids about spending and saving. But just 61% of the kids agree. Nearly half of parents say they strongly encourage their kids to talk to them about money. But only one in five kids strongly agree that this is the case. These are among the chief findings in the 2013 Annual Parents, Kids and Money Survey from fund company T. Rowe Price. The perception gap suggests that parents aren’t being nearly as diligent as they believe—or, alternatively, that kids (aged 8 to 14) don’t recognize a money talk when they hear one. Maybe in-home financial discussions should begin with the declaration: “This conversation is going to be about personal finance!” (MORE: Is Paying Allowance to Your Kids Cruelty?) Don’t conclude that the misperception is necessarily the kids&#8217;. Young people know more than you might suspect. While parents are generally open about discussing things like holiday and back-to-school shopping spending limits, only 38% talk about credit, budgets, and other family financial issues with their children. A like percentage of kids (36%) say they know they are being left in the dark. Similarly, 47% of parents say they do not always agree with one another about money matters, and virtually the same percentage of kids (44%) say they know Mom and Dad have money disagreements. Your kids are more observant about your money behavior than you may realize. That’s totes tope, man. (Very cool, trust me.) Yet parents aren’t taking advantage of this natural interest. According to the survey, half or fewer of parents: Save regularly for retirement Buy life insurance Save for vacation Regularly contribute to charity Save regularly for<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=76041&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link>
		<media:content url="http://1.gravatar.com/avatar/d69b05e696e822e7e41ae630be72226a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">dankadlec</media:title>
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	</item>
		<item>
		<title>How to Master the Allowance Question and Prepaid Cards in One Shot</title>
		<link>http://business.time.com/2013/02/15/how-to-master-the-allowance-question-and-prepaid-cards-in-one-shot/</link>
		<comments>http://business.time.com/2013/02/15/how-to-master-the-allowance-question-and-prepaid-cards-in-one-shot/#comments</comments>
		<pubDate>Fri, 15 Feb 2013 14:00:31 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Decision Making]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Giving]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=70230</guid>
		<description><![CDATA[Some years ago I was looking to set up a simple third-party automated allowance system for my three children and discovered that banks could be a costly facilitator. The fees for sub-accounts and weekly transfers were ludicrously high, given the small amounts of cash involved. But I was determined to get out of the business of handing cash to my kids either weekly or upon request. I was equally determined to put the kids on a budget and in charge of their own spending decisions, believing it to be the most effective financial teaching tool in the universe. So I chose the bank with the most efficient set-up, swallowed hard and signed up. At my Bank of America branch I was able to get the features I wanted most—automatic transfers to each child’s account either weekly or monthly with a provision that did now allow the accounts to become overdrawn. When the money was gone, they would get denied. (MORE: How to Celebrate Anti-Valentine&#8217;s Day) But I had to open both a savings and a checking account, and three sub-accounts. The complicated fee structure and transfer limitations were such that I deposited money in my savings account and then moved it to my checking account, and then moved it to the sub-accounts. Most of the accounts were subject to a monthly maintenance fee and there were the usual ATM withdrawal fees as well. It was a relatively costly and inconvenient system. But it was the best I could do. Today, parents have much better options by avoiding the banks altogether. An online cottage industry has emerged to simplify and automate allowances, allowing parents to track spending and, if they choose, tie their payments to chores. I count a couple dozen such websites, ranging from the fairly well known ThreeJars.com to recent entrant Tykoon.com. But as far as I can tell no one has attacked the issue more thoroughly than FamZoo.com, where founder and father of five Bill Dwight is now introducing a “family pack” of prepaid cards that will do<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=70230&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link>
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			<media:title type="html">dankadlec</media:title>
		</media:content>
	</item>
		<item>
		<title>Bold New Rule: Students in the U.K. Must Study Personal Finance</title>
		<link>http://business.time.com/2013/02/14/bold-new-rule-students-in-the-u-k-must-study-personal-finance/</link>
		<comments>http://business.time.com/2013/02/14/bold-new-rule-students-in-the-u-k-must-study-personal-finance/#comments</comments>
		<pubDate>Thu, 14 Feb 2013 18:38:31 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=70439</guid>
		<description><![CDATA[The U.K. in early February made it all but official: personal finance instruction will be mandatory throughout the school system beginning in 2014. This is an important development that largely fell on deaf ears in the U.S., where government has been dithering in the realm of financial education for years. It’s not that the U.S. isn’t on board for measures to help individuals raise their financial acumen. In many ways, the U.S. is a global leader on this front. We have a formal National Strategy for Financial Literacy and both private sector and public sector presidential commissions looking into what works best. What we don’t have is a lot of action, like a federal mandate to require financial literacy coursework in schools. The U.K. just joined Australia and Singapore in this regard, and others like Canada and New Zealand seem headed the same direction. (MORE: Making Personal Finance Cool to Kids) “It&#8217;s encouraging to see an effort that promotes financial literacy nationwide, particularly one that incorporates lessons of finance and economics into subjects already taught in the classroom,” Nan Morrison, CEO of the Council for Economic Education, said of the U.K. development. “This will help students to understand these lesson’s relevance and also build their knowledge over time.” The CEE and other advocacy groups are fighting for similar steps in the U.S., but face broad hurdles. There is a lot of conflicting data as to what kind of lessons actually work. We have built a library of research papers topping 1,400 globally and are essentially studying our way to inertia. There is also the question of who is in charge. In the U.S., states determine school curricula. “We believe in school-based financial education and commend the U.K. on its efforts,” says Laura Levine, executive director of the JumpStart Coalition for Financial Literacy. “In the U.S., we need to realize that we’re a very large country that sets educational requirements at the state or local level; so we’re not likely to get nationwide financial education with the flip of a switch. But<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=70439&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link>
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			<media:title type="html">dankadlec</media:title>
		</media:content>
	</item>
		<item>
		<title>9 Easy Ways to Save Money on Your Next Vacation</title>
		<link>http://business.time.com/2013/02/11/9-easy-ways-to-save-money-on-your-next-vacation/</link>
		<comments>http://business.time.com/2013/02/11/9-easy-ways-to-save-money-on-your-next-vacation/#comments</comments>
		<pubDate>Mon, 11 Feb 2013 16:00:23 +0000</pubDate>
		<dc:creator>Matthew Kepnes</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Google]]></category>
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		<category><![CDATA[flights]]></category>
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		<category><![CDATA[rail passes]]></category>
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		<guid isPermaLink="false">http://business.time.com/?p=70247</guid>
		<description><![CDATA[A few years ago, my parents took a three-week vacation to Israel. They spent more than $6,000. I can’t remember the last time I spent that much money in three weeks; that amount could last me up to half a year on the road. When I asked them what they spent so much money on, their reply amounted to, “Travel isn’t cheap! Hotels, car rental, tours, and airfare all cost money!” To me, that sums up the thinking I encounter every day. “I’d love to travel, but it’s just too expensive,” people say to me. “It costs a lot of money.” But that’s because the travel we are exposed to costs a lot of money. The ads, TV commercials, and magazines all feature high-end vacations, resorts, and cruises—the kinds of operations that can afford advertising. But it’s possible to travel in comfort without spending a ton of money. I know this because I’ve spent the last six years or so doing just that. In that time, I’ve been to over 70 countries and started a blog to help others travel cheaper, better, and longer. Earlier this month, I put all my years of travel experience into a book, How to Travel the World on $50 a Day, to further break down the myth that travel must be expensive. (MORE: When Airfare Is So Cheap It&#8217;s a Steal &#8212; Literally) No matter where you&#8217;re going, there are plenty of simple ways to cut expenses and still enjoy the quality vacation you and your family desire. Sure, there are some tradeoffs. But cheap doesn’t have to mean bad. Here are my top nine tips for turning any trip into an affordable activity: Sign up for a travel-related credit card. By utilizing the signup bonuses offered with airline credit cards, you can accumulate hundreds of thousands of miles each year without ever flying or spending more than you normally would. All U.S. carriers offer a branded card that gives you 30,000-50,000 bonus miles when you sign up and make one purchase. That’s a<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=70247&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2013/02/11/9-easy-ways-to-save-money-on-your-next-vacation/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Travel</primary_category><primary_category_link>http://business.time.com/category/saving-spending/travel-saving-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2011/06/suitcase.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2011/06/suitcase.jpg?w=240" />
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			<media:title type="html">Suitcase</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/44310a1af940f994952d1e4db73096cd?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">TIME.com</media:title>
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		<title>Misguided? Half of Adult Children Think Parents Made No Money Mistakes</title>
		<link>http://business.time.com/2013/02/04/misguided-half-of-adult-children-think-parents-made-no-money-mistakes/</link>
		<comments>http://business.time.com/2013/02/04/misguided-half-of-adult-children-think-parents-made-no-money-mistakes/#comments</comments>
		<pubDate>Mon, 04 Feb 2013 20:02:12 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=69456</guid>
		<description><![CDATA[Every parent can remember when their 9- or 10-year-old children began to question Mom and Dad’s infallibility on issues like bedtime and vegetables. Evidently it takes a lot longer for kids to question their parents knowledge of money matters, new data show. Nearly half of adult children past age 30 say their parents made no money mistakes, according to part two of Fidelity Investments Intra-Family Generational Finance Study. That’s a stunning result given the mortgage and home foreclosure crisis and the generally under-saved and highly indebted condition threatening the retirement of millions of boomers. (MORE: Student Loan Debt Crisis: How&#8217;d We Get Here and What Happens Next?) One in three people age 60-plus say they don’t feel prepared financially to live to 85; almost one in two say the same about living to 95, according to a Northwestern Mutual Life survey. The half of adult kids that do question Mom and Dad’s financial prowess cite woeful retirement savings and inefficient use of savings options as their biggest concerns, according to the Fidelity survey, which polled households with at least $100,000 in savings. For their part, parents are quick to list the financial miscues of their adult children: 42% say the kids have too much credit card debt; 38% say the kids are not saving enough for retirement; and 36% say kids do not have a large enough emergency fund. These are issues that broadly plague the parents too, though their adult kids don’t seem to grasp that. “They are projecting a little bit,” Kathleen A. Murphy, president of Personal Investing at Fidelity, says of the parents. “They don’t want their kids to make the same mistakes that they made.” The findings point up the importance of family discussions about money. While a broad movement rightly seeks to make financial education part of every school’s curriculum, kids most trust their parents when it comes to learning about money. It doesn’t seem to matter if parents have been poor money managers. They need to be part of the process. Parents can offer<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=69456&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link>
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			<media:title type="html">dankadlec</media:title>
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		<title>A 4% Surcharge for Using a Credit Card?! Now Legal &#8212; but Not Likely</title>
		<link>http://business.time.com/2013/01/25/a-4-surcharge-for-using-a-credit-card-legal-but-not-likely/</link>
		<comments>http://business.time.com/2013/01/25/a-4-surcharge-for-using-a-credit-card-legal-but-not-likely/#comments</comments>
		<pubDate>Fri, 25 Jan 2013 13:00:05 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[comparison shopping]]></category>
		<category><![CDATA[credit card surcharge]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[interchange]]></category>
		<category><![CDATA[interchange fees]]></category>
		<category><![CDATA[online shopping]]></category>
		<category><![CDATA[shopping]]></category>
		<category><![CDATA[surcharges]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67667</guid>
		<description><![CDATA[Starting on Sunday, Jan. 27, retailers will be allowed to tack a surcharge of up to 4% onto your tab if you want to pay with a credit card. If that sounds like a lot, you&#8217;re right. Happily, though, it&#8217;s unlikely to happen very often.  For years, card issuers have been making lots of money off so-called interchange fees. Until financial regulators and lawyers dragged this obscure term into general discourse, most people had no idea what an interchange fee is. (Still don&#8217;t? It&#8217;s the fee, typically about 2%, that a store pays your bank when you use a credit card at checkout.) For low-margin businesses like supermarkets as well as mom-and-pop stores that don&#8217;t have the clout of their big-box brethren to negotiate lower rates, these fees cut into profits in a big way. But in a contentious legal ruling that is still being disputed, a U.S. District Court determined last year that merchants are allowed to pass along the cost of those credit-card interchange fees to customers. Consumer advocates say permitting surcharges is a slippery slope. &#8221;If a national sales tax of 2, 3, or 4 percent were being proposed, everyone would be up in arms,&#8221; ConsumerWorld.org founder Edgar Dworksy points out on his site. But take a deep breath. You can avoid the fee by using a debit card, for one thing. And there are laws prohibiting these surcharges in 10 states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. Ultimately, though, consumer awareness will be the strongest deterrent against widespread credit-card surcharges. Stores have to let you know with a sign on the door if they&#8217;re going to add a surcharge — although they don&#8217;t have to tell you how much it is until point of sale, when you&#8217;re already at the cash register. And today&#8217;s retail landscape is hypercompetitive, so many stores will be hesitant to risk alienating customers by charging extra for using plastic. (MORE: Today’s Young Adults Will Never Pay Off Their Credit-Card Debts) As consumers, we don&#8217;t take kindly to paying fees for stuff<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67667&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Credit Cards</primary_category><primary_category_link>http://business.time.com/category/saving-spending/credit-cards-saving-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/08/102070541.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2012/08/102070541.jpg?w=240" />
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			<media:title type="html">Carry a Credit Card Balance to Improve Your Credit Score</media:title>
		</media:content>

		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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		<title>Celebrity Prepaid Cards: Will Justin Bieber Fare Better than the Kardashians?</title>
		<link>http://business.time.com/2013/01/22/celebrity-prepaid-cards-will-justin-bieber-fare-better-than-the-kardashians/</link>
		<comments>http://business.time.com/2013/01/22/celebrity-prepaid-cards-will-justin-bieber-fare-better-than-the-kardashians/#comments</comments>
		<pubDate>Tue, 22 Jan 2013 17:00:26 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67371</guid>
		<description><![CDATA[Thank goodness for celebrities. Without them we might never fully appreciate blatant self-interest, and we definitely would not have so many occasions to discuss the evils of fee-laden prepaid debit cards. The latest star with plans to fleece his adoring public is teen hit-maker Justin Bieber—with a hearty assist from an online finanical firm that goes by the unfortunate name BillMyParents. The card, announced last fall, is set to go live in the next week or so. As part of the endorsement deal, Bieber is expected to appeal to young people to learn more about personal finance. If he is successful with such an appeal they won&#8217;t use his card. Go figure. With 50 million Facebook fans and 32 million followers on Twitter, a Bieber card might seem like money in the bank—for the Biebs and the sponsoring website. But hits are difficult to predict. You have to wonder if Bieber’s babysitters paid attention to the failed Kardashian Kard, launched in November 2010 and quickly taken off the market amid rampant criticism of its predatory fee structure. (MORE: Young Workers With a 401(k) Finally Get Diversified) The Kardashian sisters were subsequently sued for breach of contract. They prevailed in that legal entanglement. But what star needs this kind of publicity? Financial guru Suze Orman, whose prepaid card looks good next to other star-powered offerings, has endured grief as well. Orman’s Approved Card launched a year ago amid criticism that, as a trusted money adviser, she should always steer her fans to the most economical prepaid cards on the market. Her card would not qualify. Prepaid debit cards are not inherently evil, and there is a place for those marketed directly to young people. Among the advantages: Kids can use a pre-paid card to shop online. Parents get a detailed spending report. Over drafting is not a risk. Pre-paid cards are easy to re-load and thus may be good vehicles for paying allowance, assuming no or low re-load fees. Kids become familiar with plastic in a controlled environment. With the Bieber<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67371&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Paying With Plastic</primary_category><primary_category_link>http://business.time.com/category/saving-spending/paying-with-plastic/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/158288592.jpg?w=240</featured_image>
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			<media:title type="html">Power 96.1&#039;s Jingle Ball 2012 - Show</media:title>
		</media:content>

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			<media:title type="html">dankadlec</media:title>
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		<title>Today&#8217;s Young Adults Will Never Pay Off Their Credit Card Debts</title>
		<link>http://business.time.com/2013/01/17/todays-young-adults-will-never-pay-off-their-credit-card-debts/</link>
		<comments>http://business.time.com/2013/01/17/todays-young-adults-will-never-pay-off-their-credit-card-debts/#comments</comments>
		<pubDate>Thu, 17 Jan 2013 15:00:18 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[bills]]></category>
		<category><![CDATA[credit card debt]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[monthly bills]]></category>
		<category><![CDATA[payday loans]]></category>
		<category><![CDATA[renters]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=66904</guid>
		<description><![CDATA[When we talk about Americans barely into adulthood who are saddled with debilitating levels of debt, the conversation is almost always about student loan debt. But there’s a growing body of evidence suggesting that today’s young adults are also drowning in credit-card debt &#8212; and that many of them will take this debt to their graves.  More than three-quarters of renters between the ages of 18 and 24 spend more than they earn every month, according to a survey of 1,000 renters (of all ages) by Rent.com. This is the case even though 17% of respondents in that age bracket say they’re willing to live with roommates to save money. More than 20% overspent their income by more than $100. That’s every single month. And since they haven’t built up their credit histories yet, it’s a safe bet that these young adults are paying relatively high interest rates on the resulting credit card debt. Although more young people than older adults blame “socializing” as a barrier to saving money, most young people aren’t knocking back $20 drinks in trendy lounges. They’re struggling with much more prosaic financial demands. For 42%, rent is their top expense, while 18% say transportation costs eat up the biggest chunk of their earnings and 22% say paying for food eats up the greatest share of their monthly budget. (MORE: Why More Americans Will Fall Behind on Credit-Card Bills This Year) To a disturbingly large extent, the young and the broke are relying on credit cards to make it until their next payday. This obviously isn’t sustainable in the long run, and it’s going to put a huge drag on this demographic’s spending power even after they reach their peak earning years, because they’ll still be paying interest on that carton of OJ or box of spaghetti they bought a decade earlier. A new study out of Ohio State University found that young adults are racking up credit card debt at a more rapid rate than other age groups, and that they’re slower at paying it<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=66904&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Credit Cards</primary_category><primary_category_link>http://business.time.com/category/saving-spending/credit-cards-saving-spending/</primary_category_link>
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			<media:title type="html">marthacwhite</media:title>
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		<title>What the Current Economic Outlook Means for American Families</title>
		<link>http://business.time.com/2013/01/16/what-the-current-economic-outlook-means-for-american-families/</link>
		<comments>http://business.time.com/2013/01/16/what-the-current-economic-outlook-means-for-american-families/#comments</comments>
		<pubDate>Wed, 16 Jan 2013 13:00:01 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[Jobs]]></category>
		<category><![CDATA[Mutual Funds]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Portfolio Strategy]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Real Estate & Homes]]></category>
		<category><![CDATA[Real Estate Markets]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Tax Policy]]></category>
		<category><![CDATA[Taxes]]></category>
		<category><![CDATA[The Economy]]></category>
		<category><![CDATA[Wall Street & Markets]]></category>
		<category><![CDATA[Wealth]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=66788</guid>
		<description><![CDATA[Now that the fiscal cliff fight is over and the debt ceiling debate hasn&#8217;t reached a fever pitch &#8212; not yet, anyway &#8212; it seems like a good time to take a step back, assess the economic outlook, and see what it means for American families. The good news is that the U.S. has enjoyed more than three years of uninterrupted economic growth and falling unemployment since the recession ended. The bad news is that this has been the weakest rebound since World War II. Economic growth has averaged less than 2.25% since the recovery began and is estimated to have slowed to less than 1% in the most recent quarter. Unemployment is still way above where it should be at this point. Budget problems remain the chief impediment to faster growth. The fiscal cliff deal did little to reduce the annual deficit, almost $1.1 trillion last year. Not all of that amount needs to be eliminated, though. Part of the current deficit is simply the normal result of a weak economy. Moreover, if the economy were growing at its historical average rate of 3.25% a year, the U.S. could afford to run a deficit of half a trillion dollars or so. Even so, the deficit still needs to be reduced by something like $300 billion a year. That means further spending cuts and tax hikes that will be a drag on the economy. Consensus estimates are for slightly slower growth this year – an estimated 1.8%, down from 2.2% in 2012. The most optimistic economists foresee a small improvement in growth this year, followed by 3% or more in 2014. While that would get the economy back to its long-term average growth rate, it would remain far short of the powerful rebound that normally follows a recession. (MORE: The Changing Business of Drugstores) To see what this outlook is likely to mean for typical American families, it helps to take a closer look at these factors: Unemployment. For the past three years, unemployment has been coming down slowly but steadily. The most recent report calculated that 155,000 jobs<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=66788&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Economy &amp; Policy</primary_category><primary_category_link>http://business.time.com/category/economy-policy/</primary_category_link>
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			<media:title type="html">michaelsivy</media:title>
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		<title>Why Shoppers Just Can&#8217;t Resist Clearance Sales</title>
		<link>http://business.time.com/2013/01/07/why-shoppers-just-cant-resist-clearance-sales/</link>
		<comments>http://business.time.com/2013/01/07/why-shoppers-just-cant-resist-clearance-sales/#comments</comments>
		<pubDate>Mon, 07 Jan 2013 10:47:44 +0000</pubDate>
		<dc:creator>Kit Yarrow</dc:creator>
				<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Odd Spending]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Psychology of Money]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[cash]]></category>
		<category><![CDATA[Christmas sales]]></category>
		<category><![CDATA[clearance]]></category>
		<category><![CDATA[clearance sales]]></category>
		<category><![CDATA[discounts]]></category>
		<category><![CDATA[gift cards]]></category>
		<category><![CDATA[holiday shopping]]></category>
		<category><![CDATA[January]]></category>
		<category><![CDATA[markdowns]]></category>
		<category><![CDATA[original price]]></category>
		<category><![CDATA[Sales]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65907</guid>
		<description><![CDATA[January is prime time for shoppers stalking &#8220;further reductions&#8221; on merchandise that didn&#8217;t sell for Christmas or during the post-Christmas and post-New Year&#8217;s sales. In other words, it&#8217;s prime time for consumers to buy things they shouldn&#8217;t, even at 75% off. For some shoppers, clearance racks are like catnip. The impressive differences between the &#8220;original prices&#8221; and the dramatically marked-down rates draw them in, leaving the impression that these deals are just too good to pass up. Yet the truth is that a &#8220;deal&#8221; isn&#8217;t a deal when you buy things you don&#8217;t end up using, and you spend money you wished you hadn&#8217;t. What&#8217;s more, in my research, I’ve found that sale-obsessed shoppers ultimately spend more money than non-sale shoppers. Consumers fixated on deals and discounts often purchase things that aren’t truly satisfying—and because they aren’t satisfied, they continue to shop. Additionally, the rush these consumers get from snagging what seems to be a bargain (85% Off!) has an addictive quality. The products they purchase, bring home, and live with are in some ways secondary. Why do we bite? Clearance merchandise isn’t called “an irresistible bargain” for nothing. Giant reductions and the way they’re presented in stores and on retailer websites tap into some primal psychological impulses. (MORE: 10 Big Retail Trends from the 2012 Holiday Shopping Season) Here are five insights as to why sales featuring major markdowns are extra tempting, along with some tips for making better decisions about what to buy this month, or any month, really. 1. Fear of Missing Out January sales are typically of the &#8220;clearance&#8221; variety. We understand this to mean that when something is sold, our opportunity to buy is gone for good. The concept inspires a fear of “missing out” that shoppers often don’t consciously notice, which only enhances the power of their emotional reaction. You may not understand why you&#8217;re compelled to jump on that sweater discounted by 80%. You may not even realize that you actually didn&#8217;t like it before the price was reduced. Yet the feeling of<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65907&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Smart Spending</primary_category><primary_category_link>http://business.time.com/category/saving-spending/smart-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/03/200446273-001-e13315592149021.jpg?w=240</featured_image>
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			<media:title type="html">Sale tags</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/44310a1af940f994952d1e4db73096cd?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">TIME.com</media:title>
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		<title>Why More Americans Will Fall Behind on Credit-Card Bills This Year</title>
		<link>http://business.time.com/2013/01/07/why-more-americans-will-fall-behind-on-credit-card-bills-this-year/</link>
		<comments>http://business.time.com/2013/01/07/why-more-americans-will-fall-behind-on-credit-card-bills-this-year/#comments</comments>
		<pubDate>Mon, 07 Jan 2013 10:21:01 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65753</guid>
		<description><![CDATA[Our collective exercise in austerity appears to be over. Americans are adding to their credit-card balances again, and experts warn more of us are likely to get in over our heads this year. A quarterly report issued last month by the Federal Reserve Bank of New York said that, although our total debt dropped by $74 billion in the third quarter, our credit-card debt actually rose by $2 billion in the same time period. Even as we’re paying down our mortgages (which is where that reduction came from), we’re hitting running up other debts. Credit-card debt isn’t the only problem child here: we also added $18 billion in car loans and $23 billion in new student-loan debt during the quarter. The average borrower had $4,996 in debt as of the third quarter of 2012, according to credit bureau TransUnion. That amount is expected to rise to $5,446 by the end of this year, the highest it’s been since 2009, when our average debt topped out at $5,776. So far, we’ve been able to stay on top of this rising debt load. New data from the American Bankers Association (ABA) found that delinquencies on bank-issued credit cards were as low as they’ve been in nearly two decades in the third quarter of 2012. Don’t pat yourself on the back just yet, though; ABA chief economist James Chessen says this could change very quickly. (MORE: Is a $1 Trillion Coin a Good Way to Avoid Another Debt-Ceiling Impasse?) “The lack of broad-based improvement remains a cause for concern &#8230; slow job growth, continued uncertainty and falling consumer confidence could signal rising delinquencies in the year ahead,” he warns in a statement. The expiring payroll-tax cut also means that the average household will have about $1,000 less in take-home income this year. In a November forecast, TransUnion also said the percentage of people more than 90 days late on their credit-card bills would creep up this year, in a large part because banks are once again signing up customers who are more likely to<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65753&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Credit Cards</primary_category><primary_category_link>http://business.time.com/category/saving-spending/credit-cards-saving-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/credit.jpg?w=240</featured_image>
		<media:thumbnail url="http://timebusinessblog.files.wordpress.com/2013/01/credit.jpg?w=240" />
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			<media:title type="html">Credit Card</media:title>
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		<media:content url="http://0.gravatar.com/avatar/9a5a9e4f28beb5afb59b1202632d219a?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">marthacwhite</media:title>
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		<title>What&#8217;s Hot on the Dating Scene? Good Credit</title>
		<link>http://business.time.com/2013/01/02/whats-hot-on-the-dating-scene-good-credit/</link>
		<comments>http://business.time.com/2013/01/02/whats-hot-on-the-dating-scene-good-credit/#comments</comments>
		<pubDate>Wed, 02 Jan 2013 16:00:21 +0000</pubDate>
		<dc:creator>Dan Kadlec</dc:creator>
				<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Decision Making]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Planning]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65216</guid>
		<description><![CDATA[Tall. Brunette. Active. Likes running, tennis, traveling, and sipping tea in front of a roaring fire. Great credit score. Wait a minute. Wha? Great credit score? Yes, good credit is an attribute that has become worth shouting about on dating websites. That, anyway, is the theory behind creditscoredating.com and datemycreditscore.com, matchmaker websites addressing the concerns of the fiscally prudent lovelorn. (MORE: The Top 5 Tech Business Stories of 2012) Never mind that these sites don’t appear to be attracting a lot of traffic. They wouldn’t exist at all if not for a burgeoning trend where mate seekers long for a peek under your balance sheet before they peek under anything else. This is especially true of young people, who may bring tens of thousands of dollars of student debt to a relationship. That is such a turn-off. The New York Times interviewed more than 50 daters under 40 from around the country and found that many of them regarded a good credit score as a prerequisite for a good date. As the Times reported: “‘Credit scores are like the dating equivalent of a sexually transmitted disease test,’ said Manisha Thakor, the founder and chief executive of MoneyZen Wealth Management, a financial advisory firm. ‘It’s a shorthand way to get a sense of someone’s financial past the same way an S.T.D. test gives some information about a person’s sexual past.’” Is this taking the beau-vetting process too far? I don’t think so. Landlords and lenders may look at your credit score to help determine if you are worth taking a chance on. Even employers may do a credit check on you. Why not a prospective mate? How you handle money says a lot about your ability to be organized and responsible. Why would anyone with options risk falling for someone likely to bring heavy debt and poor spending and saving habits to a union? (MORE: 10 Big Retail Trends from the 2012 Holiday Season) Your credit score is a complex calculation based on your debts and payment history. A low score<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65216&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Financial Education</primary_category><primary_category_link>http://business.time.com/category/planning/financial-education/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/05/credit-cards.jpeg?w=160</featured_image>
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			<media:title type="html">credit cards</media:title>
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			<media:title type="html">dankadlec</media:title>
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		<title>10 Big Retail Trends from the 2012 Holiday Shopping Season</title>
		<link>http://business.time.com/2012/12/28/10-big-retail-trends-from-the-2012-holiday-shopping-season/</link>
		<comments>http://business.time.com/2012/12/28/10-big-retail-trends-from-the-2012-holiday-shopping-season/#comments</comments>
		<pubDate>Fri, 28 Dec 2012 10:45:27 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Budgeting]]></category>
		<category><![CDATA[Companies & Industries]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Future of Retail]]></category>
		<category><![CDATA[Odd Spending]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[ad-matching]]></category>
		<category><![CDATA[Amazon]]></category>
		<category><![CDATA[Black Friday]]></category>
		<category><![CDATA[brick-and-mortar]]></category>
		<category><![CDATA[Christmas]]></category>
		<category><![CDATA[Cyber Monday]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[free shipping]]></category>
		<category><![CDATA[gift cards]]></category>
		<category><![CDATA[gifts]]></category>
		<category><![CDATA[Green Monday]]></category>
		<category><![CDATA[holiday shopping]]></category>
		<category><![CDATA[layaway]]></category>
		<category><![CDATA[online shopping]]></category>
		<category><![CDATA[price matching]]></category>
		<category><![CDATA[same-day shipping]]></category>
		<category><![CDATA[self-gifting]]></category>
		<category><![CDATA[thanksgiving]]></category>
		<category><![CDATA[toys]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=65095</guid>
		<description><![CDATA[What did the 2012 holidays teach us about the current state of shoppers—and, of course, the places where they shop? Here are 10 notable trends. The Expansion of Black Friday—and the Entire Season Even though it has caused a backlash among certain consumers, retailers have concluded that the formula for increasing seasonal sales totals is mostly based on increasing holiday promotions, deals, and store hours—hours that now include Thanksgiving night. Not only is it standard for stores to open by 8 p.m. or 9 p.m. on Turkey Day, but the holiday season now basically overlaps with the back-to-school shopping period, with promos and Christmas displays popping up in early September. Soaring Online Sales, So-So In-Store Sales As projected, it&#8217;s been yet another very strong season for e-commerce. Online spending was up sharply on Thanksgiving, Black Friday, and Cyber Monday alike (increasing 17% or more compared to corresponding days in 2011), and consumers hardly tired of online shopping in the weeks that followed. During the week of &#8220;Green Monday&#8221; (second Monday in December), four separate days crossed the $1 billion mark for online sales, according to comScore, resulting in the highest-ever sales total over a five-day stretch. (MORE: Why Walmart Took Over Facebook for 72 Hours) Meanwhile, spending in physical stores was down nearly 2% on Black Friday, and after several sluggish weeks of sales, some experts lowered projections for holiday spending during the 2012 season. Brick-and-Mortar and Online (Try to) Become One If there&#8217;s one dominant trend in retail lately, it&#8217;s the utter blurring of online and offline shopping. For quite a while, shoppers have viewed the two modes of transaction as basically interchangeable. Retailers with a presence on the web and in real stores seem to have finally embraced the idea that both segments must be partners sending the same message to shoppers. In the past, it was almost as if the people running a retailer&#8217;s website had no contact with the people running the actual stores. Prices varied frequently, and often, products sold online weren&#8217;t sold in stores,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=65095&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Retail</primary_category><primary_category_link>http://business.time.com/category/companies-industries/retail-big-companies/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/12/200139466-003-e1356366533985.jpg?w=240</featured_image>
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			<media:title type="html">Santa sleeping on boxes</media:title>
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			<media:title type="html">bradtuttle</media:title>
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		<title>Why So Many Americans Don’t Have Bank Accounts</title>
		<link>http://business.time.com/2012/11/20/why-so-many-americans-dont-have-bank-accounts/</link>
		<comments>http://business.time.com/2012/11/20/why-so-many-americans-dont-have-bank-accounts/#comments</comments>
		<pubDate>Tue, 20 Nov 2012 10:45:17 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Decision Making]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Entrepreneurship]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Reform]]></category>
		<category><![CDATA[Financial Regulation]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Planning]]></category>
		<category><![CDATA[Psychology of Money]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=61458</guid>
		<description><![CDATA[At a time when you can pay bills online and deposit checks remotely using a cell phone, it’s amazing how many Americans don’t have bank accounts. One in nine households is without a checking account. And almost one-third of the population is underbanked — lacking the full range of basic financial services. Going without such services is not only inconvenient but also expensive. Someone who cashes paychecks or benefit checks at a check-cashing service and pays bills with money orders may end up spending more than $500 a year for transactions that would cost no more than $120 at banks that offer basic checking accounts. “Life is more expensive for people who have less,” says Brian Blake, vice president of CheckSpring Bank, an institution in New York City’s South Bronx that provides banking services to low-income customers. The bank, which is changing its name to Spring Bank, is about to open a second branch in Harlem. “Even in gentrifying neighborhoods, there are lots of people earning less than $15,000 a year,&#8221; says Blake. Not surprisingly, low-income people are the ones most likely to be underbanked, according to FDIC data. Among households with annual incomes of less than $15,000 a year, 28% have no bank account and another 22% have less than a full range of services. Rates of underbanking are similarly high among the unemployed, people without high school degrees and those under the age of 25. In addition, African Americans, Native Americans and Hispanics have higher rates than whites and Asians. Only about 5% of employed middle-class Americans are without bank accounts, but more than 20% use financial services outside the banking system — typically for reasons of convenience. (MORE: A Credit Card Promises to Do the Price-Matching Legwork for You) It’s one thing, of course, for relatively affluent people to pay a fee to cash a check because they are in a rush, and quite another for someone to rely on so-called alternative financial services for all of his or her transactions. Check-cashing services in New York are permitted to<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=61458&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Banking</primary_category><primary_category_link>http://business.time.com/category/banking-2/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/11/bu000651.jpg?w=240</featured_image>
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			<media:title type="html">BU000651</media:title>
		</media:content>

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			<media:title type="html">michaelsivy</media:title>
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		<title>A Credit Card Promises to Do the Price-Matching Legwork for You</title>
		<link>http://business.time.com/2012/11/19/a-credit-card-promises-to-do-the-price-matching-legwork-for-you/</link>
		<comments>http://business.time.com/2012/11/19/a-credit-card-promises-to-do-the-price-matching-legwork-for-you/#comments</comments>
		<pubDate>Mon, 19 Nov 2012 19:14:08 +0000</pubDate>
		<dc:creator>Brad Tuttle</dc:creator>
				<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Saving]]></category>
		<category><![CDATA[Saving & Spending]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[ad-matching]]></category>
		<category><![CDATA[Amazon]]></category>
		<category><![CDATA[Best Buy]]></category>
		<category><![CDATA[Christmas]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Citi Price Rewind]]></category>
		<category><![CDATA[holiday shopping]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[price matching]]></category>
		<category><![CDATA[Target]]></category>
		<category><![CDATA[Walmart]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=61392</guid>
		<description><![CDATA[In today&#8217;s nonstop-discount marketplace, virtually every shopper has purchased an item at what seems to be a fair price — only to kick oneself a week later when it pops up in a much cheaper sale. At no time of year is this scenario more likely than the winter-holiday shopping period, overloaded as it is with furious promotions, aggressive price wars and one-upmanship among retailers. Taking advantage of retailer price-matching guarantees is one way to protect oneself from the possibility of overpaying. Walmart is known for ad matching year-round, though like most retailer policies, it only guarantees to match the prices listed in the brochures of physical retail competitors. For the 2012 holidays Best Buy and Target are raising the stakes with promises to match competitors&#8217; online prices as well. Some have described online price matching as an especially risky gambit. Amazon routinely underprices Best Buy and other brick-and-mortar-based retailers, and by one estimate Best Buy could lose as much as $400 million in sales by dropping prices to Amazonian levels, if and when called upon by price-matching customers. (MORE: Is the Daily-Deal Model Dying a Slow Death?) Payment processor PayPal has also launched price matching for the holidays, ensuring reimbursements in case a consumer pays for an item (using PayPal, of course) and later finds the identical item for sale at a cheaper price. PayPal&#8217;s offer is in effect for purchases made by Dec. 31, and the cheaper price must be found advertised within 30 days of the original purchase. What the price-matching guarantees of PayPal, Walmart and the others all have in common is that the onus is on the consumer to invoke the policy. It&#8217;s entirely up to the customer to shop around — before and after the initial purchase — in order to find out if a better price is out there. If the shopper doesn&#8217;t take these steps, the price-matching policy is useless. Citi, a new entrant in the price-matching mix, promises that it&#8217;ll take on the burden of shopping around for weary, shopped-out customers.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=61392&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Paying With Plastic</primary_category><primary_category_link>http://business.time.com/category/saving-spending/paying-with-plastic/</primary_category_link>
		<media:content url="http://0.gravatar.com/avatar/f8de938518e7b986d552694ed99aa54d?s=96&#38;d=http%3A%2F%2F0.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">bradtuttle</media:title>
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		<title>With Obama Win, Wall Street Cop Stays On the Beat</title>
		<link>http://business.time.com/2012/11/08/with-obama-win-wall-street-cop-stays-on-the-beat/</link>
		<comments>http://business.time.com/2012/11/08/with-obama-win-wall-street-cop-stays-on-the-beat/#comments</comments>
		<pubDate>Thu, 08 Nov 2012 15:02:29 +0000</pubDate>
		<dc:creator>Martha C. White</dc:creator>
				<category><![CDATA[Banking]]></category>
		<category><![CDATA[Borrowing]]></category>
		<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Educational Financing]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Financial Education]]></category>
		<category><![CDATA[Financial Regulation]]></category>
		<category><![CDATA[Paying With Plastic]]></category>
		<category><![CDATA[Smart Spending]]></category>
		<category><![CDATA[cfpb]]></category>
		<category><![CDATA[Consumer Financial Protection Bureau]]></category>
		<category><![CDATA[Elizabeth Warren]]></category>
		<category><![CDATA[overdraft protection]]></category>
		<category><![CDATA[overdrafts]]></category>
		<category><![CDATA[payday loans]]></category>
		<category><![CDATA[prepaid debit cards]]></category>
		<category><![CDATA[Private Student Loans]]></category>
		<category><![CDATA[Richard Cordray]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=60476</guid>
		<description><![CDATA[This week’s election was a cliffhanger for many people, but the stakes were higher than most for the director and staff of the Consumer Financial Protection Bureau. The agency, which opened its doors in July 2011, was a lightning rod for Republican criticism of how the Obama Administration and a Democratic-led Congress responded to the financial crisis. During the campaign, Mitt Romney had promised that, if elected, he would repeal the Dodd-Frank financial reform legislation that called for the CFPB’s creation.  Although Governor Romney spoke about the need for financial oversight during his first debate with President Obama, he expressed discontent with the current regulatory framework. He has plenty of company in his party; Republican lawmakers agitated for changes to the CFPB’s structure since it was developed by Massachusetts Senator-elect Elizabeth Warren. Warren was initially considered a shoo-in for the role of director at the CFPB, but Republican backlash prompted President Obama to choose someone considered less controversial: former Ohio Attorney General Richard Cordray, who rose to prominence for his campaign against the foreclosure robo-signing fraud. Nevertheless, GOP senators held up the appointment of Cordray as CFPB director. Cordray eventually was appointed by President Obama in a controversial recess appointment last winter, a move that gave the CFPB the authority to oversee non-bank financial institutions like credit bureaus and payday lenders and do more in the way of rule-making and enforcement. (MORE: Why Dirty-Looking Money Makes Us Spend More) The lawmakers who object to the CFPB, along with the banking industry, said it had too much autonomy; they wanted the agency to have its budget controlled by Congress rather than by the Federal Reserve. They also wanted to see it led by a committee rather than a single director. Consumer advocates said both moves would water down the agency’s authority and make it more like existing regulators — the ones that were unable to stop the financial crisis from happening. Since Cordray took the reins, the CFPB has acted on behalf of the little guy on several different fronts, and<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=60476&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/11/08/with-obama-win-wall-street-cop-stays-on-the-beat/feed/</wfw:commentRss>
		<slash:comments>5</slash:comments>
	<primary_category>Financial Regulation</primary_category><primary_category_link>http://business.time.com/category/economy-policy/financial-regulation-economy-policy/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/11/1500_cord.jpg?w=240</featured_image>
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			<media:title type="html">Richard Cordray</media:title>
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			<media:title type="html">marthacwhite</media:title>
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		<title>Parents Who Argue over Money Connected to Overspending by Kids</title>
		<link>http://business.time.com/2012/10/25/parents-who-argue-over-money-connected-to-overspending-by-kids/</link>
		<comments>http://business.time.com/2012/10/25/parents-who-argue-over-money-connected-to-overspending-by-kids/#comments</comments>
		<pubDate>Thu, 25 Oct 2012 15:30:53 +0000</pubDate>
		<dc:creator>Josh Sanburn</dc:creator>
				<category><![CDATA[Credit Cards]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Saving & Spending]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=58821</guid>
		<description><![CDATA[Did your parents constantly argue over money when you were growing up? If so, it may have something to do with all that credit-card debt you’ve racked up. A new study by researchers from East Carolina University surveyed more than 400 college students about their finances. While gender and class year were the top predictors of the number of credit cards they owned, the next was whether their parents argued about money. (MORE: Is the U.S. Waging a War on Savers?) According to the study, published online in the Journal of Family and Economic Issues, upperclassmen were almost four times as likely to have two or more credit cards than freshmen and sophomores, and women were more than twice as likely as men to have at least two cards. Those findings may not be terribly surprising. But the study’s authors also surveyed college students about whether their parents regularly argued over money, and that revealed some interesting results. Students who specifically responded that “my parents usually argued about finances” were twice as likely to have more than two credit cards than those who said their parents didn&#8217;t argue over money, and three times as likely to have a large amount of debt. (MORE: College Is Dead. Long Live College!) You might suspect that a lack of funds contributed to both the fighting and debt levels, but when the study’s authors controlled for income, the results were the same. Even relatively wealthy kids of parents who fought over money had higher debt levels. While the authors didn&#8217;t come to any definite conclusions about why quarrelsome parents have such a negative impact on their children&#8217;s borrowing patterns, they suspect the kids are unintentionally copying their parents&#8217; actions. “Kids growing up in that sort of atmosphere may be witnessing some unhealthy financial decisions,&#8221; says Adam Hancock, a co-author of the study. &#8220;And they tend to act out those same behaviors.&#8221; The findings are consistent with a long line of studies that show children who come from households with substance abuse often end up<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=58821&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Credit Cards</primary_category><primary_category_link>http://business.time.com/category/saving-spending/credit-cards-saving-spending/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/10/1332_76314113.jpg?w=240</featured_image>
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		<media:content url="http://timebusinessblog.files.wordpress.com/2012/10/1332_76314113.jpg?w=240" medium="image">
			<media:title type="html">College students and credit card debt- parents at fault?</media:title>
		</media:content>

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			<media:title type="html">jsanburn</media:title>
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