Your weekly money scoop: September 2, 2016

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Your weekly money scoop: September 2, 2016


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

This week, read about four individuals with student debt who are budgeting in four very different ways, learn how Americans are spending their money and find out where your cash may be well spent this Labor Day.

There's no one right way to live with student debt. Here's a look at the day-to-day spending of four very different 20-somethings who are living with student loan debt. They're balancing paying off their loans, moving forward in their careers and maintaining a social life. And occasionally taking advantage of free food at work.

If "Confessions of a Shopaholic" feels like it was written about you... read this account of one blogger who decided to put an end to her shopping habit. Her solution: go eight months without new clothes, then limit shopping to twice a year and flock to the clearance rack. Extreme? Perhaps. Effective? Yes.

Ready, set, jet. Summer is coming to an end, and that could mean cheaper flights. According to travel analysts, airfare tends to drop late in the summer, and this year prices could keep sliding into October. So keep a look out for flight steals over the next couple of months. The caveat? It's unlikely that you could land a bargain for your holiday trip -- airlines may still hike up prices for that time of year. Bah, humbug.

How does your spending compare to the average American? MarketWatch's review of Bureau of Labor Statistics data shows that in 2015, Americans spent the highest proportion of their incomes on housing (22 percent), followed by life insurance and pensions (11.3 percent) and health care (7.8 percent). They also spent more on eating out and entertainment than they did in 2014. Staying social ain't cheap, unfortunately...

This Labor Day, stock up on summer clothes and ... mattresses. Labor Day weekend brings a number of sales and discounts, and some items are better bargains than others. This year, you may be able to land some sweet deals on summer clothes, grills and mattresses. You may want to hold off on fall clothing, Apple devices and toys, which may be discounted later in the year. No white after Labor Day doesn't apply to mattresses, right?

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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