ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Holiday spending is expected to grow this year, Betty Lin-Fisher reports. |
Consumers are projected to spend between $979.5 billion and $989 billion in November and December, compared with $955.6 billion during the same timeframe last year, the National Retail Federation said in a holiday sales forecast call. |
More car loans are underwater |
More Americans are upside down on their car loans, and the average amount they owe is at an all-time high, according to a new survey from car comparison site Edmunds. |
In the three months through September, 24.2% of Americans who traded in their car toward a new vehicle purchase owed more on the trade-in than it was worth, Medora Lee reports. That's up from 23.9% in the prior three months and 18.5% a year ago. |
Auto loans account for about 25% of nonmortgage consumer credit, according to the Federal Reserve, and they can provide a window into the financial health of borrowers and overall household financial well-being. |
Notorious candle turns up on eBay |
Now appearing on eBay: A candle, originally sold by Bath & Body Works, that the retailer recently quit selling over complaints the snowflake design on its label resembled Ku Klux Klan hoods. |
The personal care and fragrance retailer apologized for producing the Snowed In three-wick candle, which was part of its holiday line of candles, Mike Snider reports. |
The move came after online commenters called out the design – meant to be a nod to a folded snowflake cutout – for resembling the white supremacist group's white hoods. Some called it the Klandle and the KKKandle. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Holiday spending is expected to grow between 2.5% and 3.5% this year, according to the National Retail Federation. | | | | Nearly a quarter of Americans who traded in a car for a new one was upside down on their loan, Edmunds says. The amount some owe is "alarming." | | | | A candle Bath & Body Works removed from its stores because some said its label design resembled a Ku Klux Klan hood is now being resold on eBay. | | | | Immigrants from all over have long found a welcome mat in Dayton, Ohio, which has helped stabilize the local economy and improve the housing market. | | | | The Department of Agriculture's Inspector General is reportedly investigating the handling of violations at an outbreak-linked Boar's Head plant. | | | | Disney fans have been asking for a line-skipping pass similar to those at other theme parks, but the Lightning Lane Premier Pass isn't for everyone. | | | | Using code 'VOTE24' Lyft will offer a 50% discount of up to $10 for rides to election polls as part of its Voting Access Program. | | | | Americans know the US retirement systems isn't great. Mercer's latest global rankings show just how it stacks up against other countries. | | | | More than one-quarter of college applicants have ruled out a school solely because of the political climate in its state, a new survey finds. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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