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State Farm says cost of deer-strike repairs up 14 percent, and drivers' odds of hitting one have increased as well.

By QuinStreet 2 hours ago

This post comes from Michelle Megna at partner site CarInsurance.com.


Your chances of hitting a deer while driving are up 3 percent this year, and so is the cost – the average deer strike claim is $3,888, up 13.9 percent from last year, according to State Farm.


Nationwide, a typical driver’s odds of a Bambi collision are 1 in 169, the nation’s largest car insurance company said Monday, but that likelihood doubles during the upcoming deer season, from October to December.


© Craig Tuttle/Getty Images
Caption: A Deer On The Road In Mt. Rainier National Park
In West Virginia, the state where deer-car collisions are most likely, the odds are 1 in 39, up almost 5 percent from 2013, State Farm says.


The Mountain State, which has been No. 1 on the list of states most likely to have deer strikes for eight consecutive years, is followed this year by:

 

A new report from the Federal Reserve found that fewer people have retirement accounts, and the poor have been hit especially hard.

By MSN Money Partner 3 hours ago

This post comes from Krystal Steinmetz at partner site Money Talks News. 


Money Talks News on MSN MoneyThe percentage of Americans who are saving for retirement continues to drop.


In 2013, ownership of retirement accounts by U.S. households fell below 50 percent, continuing a downward trend. And if you're a lower-income individual, the retirement participation percentage was even lower, at 40 percent -- an eight percentage point decline since 2007.


401k © Photodisc, SuperStockThese startling facts are highlighted in a new report by the Federal Reserve (.pdf file).


"This overall decline was driven by declines in both IRA and DC (defined contribution) coverage, as there was little change in the fraction of families with a DB (defined benefit) plan," the report said.


Many retirement accounts took a huge hit during the recession, but for most people, balances bounced back. Unfortunately, that wasn't the case for everyone. According to MarketWatch, retirement account balances declined for people at the high and low ends of the income scale.

The average balance in Americans' retirement accounts -- a category that includes individual retirement accounts (IRAs) as well as 401k's, 403b's and Keogh plans -- rose 10 percent over the past three years, from $183,400 in 2010 to $201,300 in 2013. The median balance, meanwhile, was up 25 percent, from $47,200 to $59,000.
 

Older Americans owe more than $18.2 billion in student loans, pushing some seniors into poverty.

By MSN Money Partner 5 hours ago

This post comes from Krystal Steinmetz at partner site Money Talks News. 


Money Talks News on MSN MoneyStudent loan debt may be as big a problem for Grandma as it is for her grandkids.


A new report from the Government Accountability Office (.pdf file) found that more U.S. seniors are swimming in student loan debt, and they're more likely than their younger counterparts to become unable to make their loan payments.


Graduation cap © Stockdisc/SuperStockThe report said:

The percentage of households headed by those aged 65 to 74 having student debt grew from about 1 percent in 2004 to about 4 percent in 2010. While those 65 and older account for a small fraction of the total amount of outstanding federal student debt, the outstanding federal student debt for this age group grew from about $2.8 billion in 2005 to about $18.2 billion in 2013.

Those seniors often struggle to find the money to cover their student loan payments. About 36,000 older Americans saw their Social Security benefits garnished in 2013 because of defaults on their loans, forcing many of them into poverty.


"At least 22,000 Americans aged 65 and older had a part of their Social Security benefits garnished last year to the point that their monthly benefits were below federal poverty thresholds," The Huffington Post said.

 

A new study indicates that Americans are actually pretty smart when it comes to managing credit cards.

By MSN Money Partner 6 hours ago

This post comes from Krystal Steinmetz at partner site Money Talks News.


Money Talks News on MSN MoneyYou've probably seen headlines like this: Americans have an average of $15,000 in credit card debt!


Shopping online © Comstock, SuperStockThat's not the case. And now the Survey of Consumer Finances (.pdf file), a major report issued by the Federal Reserve every three years, gives a new in-depth look at how Americans have been handling their credit cards.


They've gotten much better with debt. In fact, most families don't carry a credit card balance from month to month.


The report says:

Between 2010 and 2013, the fraction of families with credit card debt … decreased. Median and mean balances for families with credit card debt fell 18 percent and 25 percent, respectively, and the fraction of families that pay off credit cards every month increased.

Some of the highlights from the report:

 

How many "official" notices and sweepstakes entries did you receive in the mail last week? Read this to find out what is allowed and what to do about lawbreakers.

By MSN Money Partner 6 hours ago

This post comes from Maryalene LaPonsie at partner site Money Talks News. 


Money Talks News on MSN MoneyI don't know about you, but I have a 79-year-old mom who seems to be on every political and religious mailing list known to man. Every day, she gets a new batch of letters emblazoned with words like "special notice," "official survey due" and "final attempt: invoice enclosed."


User name field on computer screen © William Andrew, PhotographerOf course, the special notice is simply an appeal for money, the official survey asks a few questions from a partisan group (and by the way, can you send a donation to support the cause?) and the invoice is actually a sales pitch. Other mail may have sticky notes, fonts that look handwritten or return addresses that fail to disclose the business. Check out this inventive junk mail sent to a Maine woman in 2012.


Today's seniors can be vulnerable to all sorts of confusing direct mail. Marketers are counting on them not to realize that the survey didn't come from the Census Bureau and the invoice isn't for something they agreed to purchase.


Even those of us in a younger generation can be a target. Anyone who's purchased a vehicle can attest to the onslaught of official-looking mail that arrives trying to sell extended warranties. It has become so bad that we no longer trust legitimate notices  when they do arrive.

 

The U.S. Postal Inspection Service will investigate claims of mail fraud, but first you need to know what's allowed. While the information below doesn't cover all of the different types of mail you may receive, here are three of the major categories:

 

The perks and protections of using plastic come in handy when you're buying tickets to the game.

By Credit.com 7 hours ago
This post comes from Jason Steele at partner site Credit.com.

Credit.com on MSN MoneyThis is an exciting time of year for sports fans. Football season has just begun, hockey season is around the corner and the baseball playoffs begin next month. At the same time, busy sports fans have scheduling conflicts, and there will always be frugal fans on the sidelines hoping to get a good deal on the tickets on the secondary market, or just find any seat to a sold-out game.


Dallas Cowboys quarterback Tony Romo (9) drops back to pass against the Tennessee Titans, Sep 14, 2014 © Don McPeak/Newscom/Reuters
Yet this secondary market for sports tickets can be a very dangerous place. Last year, the AARP estimated that nearly 5 million people paid for fake tickets to concerts, sporting events and theme parks. It's as if thieves have found a way to print money.


Since it can be nearly impossible to distinguish these fake tickets from the real ones, how can fans protect themselves when buying on the secondary market. The key lies with their credit cards.

 

A new way of dealing with extension cords won't bring about world peace. But it'll make your life a little easier.

By MSN Money Partner 7 hours ago

This post comes from Donna Freedman at partner site Money Talks News.


Money Talks News on MSN MoneyA video by Money Talks News founder Stacy Johnson clued me in to a life hack about aluminum foil. Apparently each end of the Reynolds Wrap box has a tab you can push in. Together the twin tabs keep the roll of foil in place while you pull out the amount you need.


Now they tell me! After decades of dealing with unruly aluminum!

 

Medical-related debt can submarine your budget.

By Credit.com 8 hours ago

This post comes from Gerri Detweiler at partner site Credit.com.


Credit.com on MSN MoneyWhen police came to John Albers' door one night in June, he could not have been more surprised.


Insurance Money © Comstock Images/JupiterimagesWhen they told him that they were taking him to a nearby psychiatric facility because they had been told he was in danger of hurting himself, he was irritated and said he was fine, but they insisted he go with them.


When he got there, he explained again that he was not in any sort of danger or crisis, and that he did not need any assistance. He was admitted anyway.


The next morning, he was seen by a staff psychiatrist who approved his discharge.


Albers was at the facility for a total of seven hours, objecting at every turn. And now the facility wants him to pay $2,007.75 for that care. Should he have to?

 

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