Your weekly money scoop: September 30, 2016

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Your weekly money scoop: September 30, 2016


We're serving you our weekly bite-sized roundup of the stories you need to know. This week, learn some tips for avoiding Uber and Lyft surge and prime time pricing and find out why you now may be able to get to your paycheck sooner than before.

When you're about to book an Uber... and then you see 3x surge pricing. The frustration is real. Both Uber and Lyft charge higher fares during periods of peak demand, and that can mean you end up paying a lot for your ride. Fortunately, you might be able to work the system in your favor. Here are some handy tips and tactics that can help you shun the surge.

It's not just individuals that struggle with debt. The World Economic Forum recently released its Global Competitive Survey, which ranked countries according to their levels of gross government debt. Government debt is important because it can indicate how able a country is to pay back its debts without getting into more debt. The U.S. has the 11th highest debt to GDP ratio. This is one list we don't want to top.

Should Olympic medalists receive a tax break? Only one member of Congress said no. Representative Jim Himes (D-CT), a former athlete himself, was the one lawmaker -- in a 415 to 1 vote -- who said nay to a bill that would give most U.S. Olympic and Paralympic medalists a tax break on their victory bonuses. Himes said that athletes shouldn't receive tax breaks when their tax money is needed elsewhere, and that others, such as Nobel Peace prize winners, don't receive this benefit.

You could be getting to your paycheck sooner. The Automated Clearing House (ACH) payment system, a 40-year-old network that moves money among U.S. banks, is getting an upgrade. Money sent through the ACH can now arrive in your bank account on the same day it's sent. Cha-ching.

"Would you like to apply for our store credit card?" You've probably heard some variant of this question when hitting up the mall. And while it may be tempting to take advantage of the rewards that the Gap or Target is offering you if you sign up for a store card, there are also potential drawbacks in getting one. Here are five things you should know about store credit cards.

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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