Your weekly money scoop: October 28, 2016

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Your weekly money scoop: October 28, 2016


We're serving you our weekly bite-sized roundup of the stories you need to know. This week, read about how Obamacare premiums are on the rise and how a penny could make you $1,000 richer.

Strapped for holiday cash? Santa might not be able to help with that, but picking up a temporary job could. According to a CareerBuilder report, one-third of employers plan to hire seasonal workers and almost half plan to increase pay for the holiday season. Major companies planning to hire seasonal workers include Macy's, Target and Amazon. Seasonal workers get an employee discount too, right?

If you have insurance from the healthcare exchange known as Obamacare, your premium could be going up. On Monday, the Department of Health and Human Services announced that the cost for an Obamacare health care plan would go up by 25 percent on average for 2017 coverage. But the changes in cost will vary significantly by state -- and many people may also be eligible for certain tax credits to keep those costs down. Check out this state by state comparison to see how premiums in your state may be affected.

A penny saved could be a thousand earned. Last week, Ally Bank announced that it placed 100 fake pennies across the U.S. worth $1,000 each. Instead of featuring Abe Lincoln on the heads side, the fake pennies will show the Ally Bank logo, and on the tails side, they'll show the coin's value: 100,000 cents. Better think twice before walking past that lonely penny on the ground.

College tuition too expensive? Consider hopping across the pond. As the cost of attending college in the U.S. keeps rising, more American students are enrolling in British universities. In many cases, tuition for an American student in the U.K. can be cheaper than U.S. tuition, and some British degrees are only three years of college instead of four. Not a bad excuse to study abroad and load up on tea and crumpets...

Set it, don't forget it. Setting up autopay for your student loan payments can be a sound approach to make sure you don't miss a payment, but you shouldn't forget about your loans once you've done so. It's wise to check up on your student loans when you experience significant life events or changes -- such as when student loan legislation changes or when you buy a house -- as these could impact how you choose to manage your payments.

And that's the scoop this week -- see you next week for more.

About the Author: Mika Bhatia is a Staff Writer for Credit Karma. She's worked in financial services and tech, and has now found the perfect union of the two at Credit Karma. When she's not busy coming up with credit-related analogies, she's most likely supporting the Warriors, enjoying a fine cup of British tea or doing yoga (goal: completing a headstand without toppling over). Follow her at @MikaBhatia!

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