Your weekly money scoop: August 19, 2016

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Your weekly money scoop: August 19, 2016


We're serving you our weekly bite-sized roundup of the stories you need to know.

This week, discover the extreme lengths one woman went to in order to try to escape student loan debt, how much Olympic gold medal winners rake in and how your job scooping ice cream today could mean you're following in the footsteps of the President.

This woman faked her own death to escape her student debt -- but it didn't work. The student loan crisis is a serious problem for many, leading some borrowers, such as this one, to desperate measures. Unfortunately for her, she just ended up with more interest. Lesson learned: Don't try this at home.

More millennials may be saying sayonara to credit card debt. According to the New York Times' analysis of Federal Reserve data, the percentage of Americans under 35 with credit card debt is at its lowest since 1989. Contrast this to the fact that across all age groups, Americans' use of credit cards is increasing. Why the discrepancy? Experts suspect younger people may be more hesitant to use credit cards to spend beyond their means and rack up debt.

Spending less on some things may cost you later. Yes, saving money is really important. And no, you shouldn't neglect it. But sometimes, your noble efforts to save could actually have the opposite effect. Check out this writer's list of 12 habits that are aimed at spending less, but might cost you over the long term.

The high-rollers didn't all start off that way. From selling garbage bags to breeding birds, some of the most successful people in the world started out working some rather unexpected -- and often unglamorous -- jobs. Here's an entertaining list of the first jobs of 23 highly successful people, from President Obama (ice cream scooper) to Warren Buffett (paperboy).

As if winning a gold medal weren't enough. Many countries, including the U.S., give their athletes a cash bonus for winning a gold medal. And some countries are much more generous than others (hello, Singapore). See how much athletes from these 12 countries rake in for taking home the gold.

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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