Current Events in September 2015

Sanderson Farms of Hazlehurst, Miss., is recalling approximately 554,090 pounds of poultry products that may be contaminated with extraneous metal materials.

There have been no confirmed reports of adverse reactions due to consumption of these products.

The following chicken items, produced on September 17-18, 2015, are being recalled:

• 70-lb. cases containing “YOUNG CHICKEN PARTS JUMBO BONELESS SKINLESS BREAST FILLETS WITH RIB MEAT” with case code 45017.
• 70-lb. cases containing “YOUNG CHICKEN PARTS JUMBO CLIPPED TENDERLOINS” with case code 45092.
• 70-lb. cases containing “YOUNG CHICKEN PARTS JUMBO BONELESS SKINLESS BREAST BUTTERFLIES WITH RIB MEAT” with case code 45015.
• 70-lb. cases and 1800-lb. combos containing “FRESH YOUNG CHICKEN PARTS BREAST FRAMES” with case code 45969.

The recalled products bear the establishment number “EST. P-247” inside the USDA mark of inspection and were shipped to processing facilities in Georgia and Louisiana.

Consumers who purchased these products should not consume them, but throw them away or return them to the place of purchase.

Consumers with questions about the recall may contact Mike Cockrell at (601) 426-1454.

Wishbone Design Studio Limited of Yardville, N.J., is recalling about 5,000 Recycled Edition Bikes.

The handlebar can pinch fingers placed at the center where the handlebar connects to the bike frame.

The firm received reports of four incidents, including two injuries. One required stitches and one required restorative surgery.

The Wishbone Recycled (RE) Bikes are made from recycled black plastic materials with 12-inch, air-filled white rubber tires. The adjustable seat height ranges from nine to 20 inches. The bikes weigh about ten pounds. The two recalled bikes include one three-in-one model, which is adjustable as a three-wheeler or two-wheeler with a high seat or low seat; and one two-wheeler model, which is adjustable with a high or low seat.

The date codes for production appear in a round dial on the front frame of the bikes under the seat. Date codes are either December 2013, or May 2014. The year appears in the center of the dial and the arrow points to the month. There is also a Wishbone logo embossed on each bike fork.

The bikes, manufactured in China, were sold at independent toy and bike stores nationwide and online at www.amazon.com from July 2014, through June 2015, for about $200 for the two-wheeler and $230 for the three-in-one.

Consumers should immediately stop using the bike, take it away from children and contact Wishbone or the store where the bike was purchased for a free neoprene cover for the handlebar.

Consumers may contact Wishbone Design Studio toll-free at 888-748-7453 from 8 a.m. to 5 p.m. (ET) Monday through Friday or online at www.wishbonedesign.com and click on Product Care and then Safety & Recalls at the bottom of the page for more information.

General Motors is recalling 96,145 model year 2013-2016 Cadillac ATS sedans manufactured April 23, 2012, to September 2, 2015.

The coil antenna module that powers the rear defogger system may generate excessive heat due to excessive cycling or continuous operation. Excessive heat increases the risk of a fire.

GM will notify owners, and dealers will update the Electronic Climate Control module to remove the automatic rear defogger "on" function, free of charge. The manufacturer has not yet provided a notification schedule.

Owners may contact Cadillac customer service at 1-800-458-8006. GM's number for this recall is 15299.

Hyundai Motor America is recalling 470,000 model year 2011-2012 Sonatas manufactured December 11, 2009, to April 12, 2012, at Hyundai Motor Manufacturing Alabama and equipped with either a 2.0 liter or 2.4 liter Gasoline Direct injection engine.

Metallic debris may not have been fully removed during manufacturing of the engine crankshaft. If the debris was not completely removed, oil flow may be restricted through the connecting rod bearings, causing connecting rod damage. A worn connecting rod bearing will produce a metallic, cyclic knocking noise from the engine and possible engine failure.

Engine failure would result in a vehicle stall, increasing the risk of a crash.

Hyundai will notify owners, and dealers will inspect the vehicles and replace the engine assembly, as necessary, free of charge. Additionally, Hyundai will increase the warranty for the engine sub-assembly (short block) to 10 years/120,000 miles for both original and subsequent owners of the recalled vehicles.

An interim notification will be mailed by November 2, 2015. A second notification will be mailed when parts are available.

Owners may contact Hyundai customer service at 1-855-671-3059. Hyundai's number for this recall is 132.

Rainbow Play Systems is recalling about 133,000 pairs of plastic trapeze rings sold in the U.S., Canada and Mexico.

The rings can unexpectedly crack or break during use, posing a fall hazard to children.

The company has received more than 100 reports of the rings cracking or breaking including 15 with reports of injuries consisting of bumps, bruises, lacerations, concussion and one broken finger.

This recall involves only the yellow plastic trapeze rings, which are triangular with rounded sides and have a loop at the top. They measure about 8½ inches high by 6½ inches wide. The yellow rings come as a pair and are connected to a trapeze bar.

They were sold either as a separate component or as an attachment on the following Rainbow-branded residential wooden playsets: All-American, Backyard Circus, Carnival, Fiesta, King Kong, Monster, Sunray, Sunshine and Rainbow.

All of these playsets have an aluminum plate located on the front of the wooden swing beam with the following name stamped on it, “Playgrounds America,” “Rainbow Play Systems Inc.,” or “Sunray Premium Playgrounds.”

The trapeze rings, manufactured in the U.S., were sold at Rainbow dealers nationwide from January 2007, through December 2011, and at several mass merchandisers including Sam’s Club, Toys R Us and Walmart from January 2009, through December 2009. The playsets retailed for between $900 and $10,000.

Consumers should immediately stop children from using the recalled rings, contact Rainbow for ring removal instructions, then remove the rings from the playset and receive a $10 gift card.

Consumers may contact Rainbow Play Systems toll-free at 888-201-1570 from 8 a.m. to 5 p.m. (CT) Monday through Friday or online at www.rainbowplay.com and click on the Recall tab located on the top menu bar for more information.  

T-Mobile is at it again. The mobile carrier that immediately priced the new iPhone 6s below where Apple did has now lowered the cost to certain customers once again.

For customers with JUMP! On Demand and an iPhone 6 or 6 Plus to trade in, the new iPhone 6s or 6s plus is just $5 a month for the 6s and $9 a month for the 6s Plus, for an 18 month term. The company previously announced a $20 a month plan without a trade-in, which is less than Apple's rate.

“With these incredible $5 and $10 a month deals, we’re giving customers just one more reason to come to T-Mobile,” said John Legere, president and CEO of T-Mobile. “This is a deal that only the Un-carrier could create, let alone make into a reality - and the crazy demand we’re already seeing tells me the carriers’ customers just aren’t buying their BS anymore. For your new iPhone, the choice couldn’t be clearer.”

Even older phones accepted

T-Mobile says the new price promotion builds on its previously announced $20 a month for a new iPhone 6s 16GB with JUMP! On Demand, without a trade-in. In addition to the $5 deal, the company is offering lower rates when customers trade in older phones; $10 a month with trade-in of iPhone 5s, Note 4 or Note edge and $15 a month with trade-in of almost any other phone you own, like the iPhone 5, iPhone 5c, Galaxy S4, Galaxy S3, HTC M8, and Motorola Droid Turbo.

T-Mobile says its customers who pre-ordered with a trade-in will receive the same reduced rate with an upfront bill credit.

At the end of 18 months, you turn in your iPhone – but there is another option. T-Mobile says you can keep the device when the agreement is up by paying $125 less than the full retail price. That comes to $524 for a new iPhone 6s 16GB without trade in. With a trade-in, you can keep your iPhone 6s 16GB after 18 months by paying a total of $254.

Sprint's iPhone Forever

T-Mobile isn't the only carrier hoping to use the new iPhone to pull in new customers. Earlier this month Sprint announced its iPhone Forever plan. Qualified Sprint customers can get the iPhone 6s for $15 per month and iPhone 6s Plus for $19 per month with a trade-in.

Customers who choose not to trade in an existing smartphone at the time of purchase can get the iPhone 6s for $22 per month and iPhone 6s Plus for $26 per month. After that, Sprint customers can get a new iPhone every year.

iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is included in the price. Through Dec. 31, 2015, Sprint says customers on any other carrier, or existing Sprint customers who are upgrade-eligible and turn in any smartphone, will get the promotional rate of $15 per month on iPhone 6s.

The latest iPhones make their debut Friday. In years past each release was greeted with excitement worthy of a quantum leap in technology. These days, there may be more excitement – certainly more competition – built around the rate packages.

A year ago, fuel economy was a major driver of new car purchases. Consumers tended to favor smaller, more fuel efficient vehicles.

Now, after 12 months of falling gasoline prices, fuel economy isn't nearly as much of a factor.

Instead, the experts at Kelley Blue Book (KBB) say consumers are showing more interest in safety features. KBB has singled out its favorite safety features for consumers to consider.

One feature KBB particularly likes is wireless connectivity in the vehicle cabin.

“Options available on new cars today like Apple CarPlay and Android Auto provide drivers with easy access to their smartphone’s navigation, phone, entertainment and texting abilities in ways that are an infinitely safer alternative to checking your phone behind the wheel, including options like voice commands,” said Micah Muzio, managing editor for Kelley Blue Book’s KBB.com.

Reducing distractions

Distracted driving continues to be a growing concern. KBB cites official U.S. government data showing 3,154 people were killed and approximately 424,000 people were injured in motor vehicle crashes involving distracted driving in 2013. Adding to the danger, approximately 660,000 U.S. drivers are using cell phones or manipulating electronic devices while driving at any given moment.

Technology is improving safety in other areas as well. Muzio says backup cameras have reduced accidents and improved safety, as have blind spot warnings.

“Forward collision alerts and lane departure warnings are helping to ensure greater safety for passengers and pedestrians alike,” Muzio said.

Crash avoidance features

The insurance industry has a vested interest in safer cars and fewer accidents. The Insurance Institute for Highway Safety (IIHS) says crash avoidance features are rapidly making their way into the vehicle fleet.

Six of the most common new technologies are forward collision warning, autobrake, lane departure warning, lane departure prevention, adaptive headlights, and blind spot detection. IIHS data shows that your chances of dying in a crash in a late-model vehicle have fallen by more than a third in just three years.

Even 2011 models have made a quantum leap in safety, with nine vehicles from the 2011 model year hitting the magic number: a driver death rate of 0.

Air bags, a technology dating back to the 1980s, have also improved – as long as they are correctly manufactured and installed. Insurance.com reports most 2003 models were equipped with two front airbags.

Now, virtually every new car comes with front, side, and side-curtain airbags standard. Some of the latest options include inflatable seat belts in Fords, front center airbags in some GM cars, and even a pedestrian airbag that pop over the windshield in case you hit someone crossing the street. That's available from Volvo.

A consumer group says Volkswagen mut offer to buy back all of the "clean diesel" cars equipped with software that lets them slip through emissions tests.

“VW once was a company that brought us iconic cars like the Beetle and the flower-powered microbus, but now VW is just a big cheater, said Ed Mierzwinski, Consumer Program Director of U.S. PIRG. “VW CEO Martin Winterkorn resigned ... while claiming he committed 'no wrongdoing' but VW must still pay full penalties under law and grant full rebates to the customers it deceived into buying pollution-spewing cars that led to massive, undeserved profits.”

The Environmental Protection Agency (EPA) says Volkswagen built elaborate software — called a “defeat device” — to turn on emission controls during testing and turn them off during regular driving, emitting as much as 40 times the legal limit of smog-forming and lung-damaging pollutants.

“When they were caught, they denied it as long as they could but now VW admits it broke the law when it engaged in a scheme to trick pollution controls and ripped off hundreds of thousands of consumers who thought they were buying clean vehicles,” added Mierzwinski. “Our Make VW Pay Campaign will hold VW fully accountable while preventing future corporate lawbreaking that cheats consumers or places health, safety, wallets or the environment at risk.”

Key demands

Key elements of U.S. PIRG’s Make VW Pay Campaign include:

1. Volkswagen must offer to buy back all “defeat device” diesel cars with full rebates to customers. VW cheated customers in selling them a product that was different than advertised in material ways.

2. The EPA must demand tough penalties: For VW’s violation, the law calls for penalties up to $37,500 per car — or $18 billion total.

3. Congress must put an end to the auto industry’s “get out of jail free" loophole: Auto industry lobbyists have won and defended a loophole in the law that makes it harder to prosecute their executives for intentionally violating the law and putting the public at risk, U.S. PIRG said. It’s time to close that loophole and any others that threaten consumer safety or wallets.

4. The Department of Justice must stop allowing tax write-offs for wrongdoing.

“GM got off cheap with a $900 million penalty over its ignition switch defect and cover-up that reportedly led to as many as 124 deaths,” concluded Mierzwinski. “Let’s make sure VW pays, that its customers get justice and that corporate crime no longer pays.”

U.S. PIRG is the federation of state Public Interest Research Groups. PIRGs are non-profit, non-partisan public interest advocacy organizations.

You're at the checkout counter ready to pay and you open your wallet. You have a credit card and a debit card. Which one do you use?

There are pros and cons to both, but Alex Matjanec, CEO of MyBankTracker, has compiled six truths he says surround the debate consumers have with themselves every day.

The first truth, he says, is that protection against theft will vary, depending on the card you select. With credit cards, you are liable for only up to $50 of fraudulent use. But in the case of a lost or stolen debit card, financial loss is limited to $50 only if you report the theft of your card or PIN code within two days upon learning of it.

Credit cards may have another advantage. Matjanec says a credit card will put you in a better position when dealing with merchant disputes.

“With a debit card, the amount would already have been debited from your account and you would have to wait for a settlement of the matter before any action to return those funds could be made,” Matjanec told ConsumerAffairs. “With a credit card, the bank or card issuer is charged for that purchase, not you.”

Card blocking

A third truth, says Matjanec, is that some retailers or service companies may put a hold on your debit account. It's also called “blocking” your card.

For example, suppose you use your debit card when you check into a $100-a-night hotel for five nights. According to the Federal Trade Commission (FTC), the hotel will put a hold on a least $500 and may add charges for "incidentals" — like food or beverages — to the blocked amount.

This can also happen when you purchase gasoline with a debit card. The station may place an additional $50 charge on your account, that goes away in a couple of days when the gas purchase goes through. If your balance is low, the FTC suggests asking a merchant if it places a hold on your account. Otherwise, your could lose access to your account for a couple of days.

Rewards

The fourth truth about cards is that the rewards are better with credit cards. Some bank accounts may offer perks if you use your debit card a certain number of times each month, but that's about the extent of the extras.

“Some debit cards have also taken to offering rewards programs in the last few years, but credit card rewards tend to be more attractive,” Matjanec said.

The fifth truth is that debit cards don't really do much to help enhance your credit standing. Yes, it's a plastic card but you are using your own money. As such, debit card transactions don't get reported to credit agencies.

The sixth truth of plastic, says Matjanec, is debit cards don’t come with the added benefits that credit cards have. Credit card issuers provide more travel insurance and extended warranty on purchased items, such as replacements or refunds on defective online-ordered goods.

From Matjanec's perspective, the advantage is clearly with the credit card. That said, consumers using credit cards to pay for everyday expenses must keep track of what they are putting on those cards. Unlike debit cards, credit cards can accumulate a balance if you don't pay the bill in full each month.

Sales of new single-family houses have added the gains they posted in July.

Figures released jointly by the Census Bureau and the Department of Housing and Urban Development show sales jumped 5.7% in August to a adjusted annual rate of 552,000. That's the most since 593,000 in February 2008 and 21.6% above the same month a year ago.

Sales were higher in three of the four U.S. geographic regions last month, led by a surge of 24.1% in the Northeast. Sales also rose in the South (+7.4%) and West (+5.4%), but declined in the Midwest (-9.1%)

Prices and inventory

Home prices last month were mixed. The median sales price of new houses sold in August was $292,700, for a year-over-year gain of $1,000 and up $1,600 from the previous month. The median is the point at which prices of half the homes sold were higher and half were lower. The average sales price was $353,400, down $2,800 from August 2014, but up $2,800 from July 2015.

The seasonally adjusted estimate of new houses for sale at the end of August was 216,000, representing a supply of 4.7 months at the current sales rate.

The complete August new home sales report is available on the Commerce Department website.

Initial claims

Separately, the Department of Labor (DOL) is reporting an uptick in the number of initial jobless claims filed last week.

During the week ending September 19, first-time applications for state unemployment benefits totaled a seasonally adjusted 267,000 -- an increase of 3,000 from the previous week.

The government says there were no special factors affecting claims level.

The four-week moving average, which smooths out the volatility in the weekly tally and is considered a more accurate barometer of the Labor market, was down 750 to 271,750.

The full report may be found on the DOL website.

Fujitsu America of Sunnyvale, Calif., is recalling about 305 Fujitsu notebook computer battery packs in the U.S. and Canada.

The battery packs can overheat, posing a fire hazard.

The company has received three reports of the battery packs catching fire, including two in Japan and one in China and causing fire damage to rugs, bedding, a desk and other furniture. No injuries have been reported.

This recall involves Fujitsu lithium ion battery packs sold or provided as replacement battery packs for the following Fujitsu notebook computers: Celsius H720 and LIFEBOOK E752, P701, P702, P770, P771, P772, S752, S762 and T580. The battery packs were also sold separately. The black battery packs measure about 8 inches long, 2 inches wide and about 0.8 inches high.

Model number CP556150-1 including all serial numbers, and model number CP556150-2 with serial number range Z120102 through Z120512 are included in this recall. The model and serial numbers are printed on the white battery label. The notebook computer’s model number is printed on a label on the bottom of the notebook.

The batteries, manufactured in China, were sold online at www.shopfujitsu.com and other Web retailers from August 2012, through July 2015, for about $150.

Consumers should immediately turn off their Fujitsu notebook computer, remove the battery pack and contact Fujitsu for a free replacement battery pack. Consumers can continue to use their Fujitsu notebook computer without the battery pack by plugging in the AC adapter and power cord.

Consumers may contact Fujitsu at 800-838-5487 from 7 a.m. – 7 p.m. (CT) Monday – Friday or online at www.fujitsu.com/us and click on “Important Announcement: Voluntary Battery Recall and Replacement” for more information.

A chemical commonly found in paint strippers is being blamed for at least 56 sudden deaths in the U.S. in recent years.

Methylene chloride is commonly identified as posing a cancer risk but warning labels don't mention that it can also cause sudden death from heart attack and aspyhyxiation when used in an enclosed area.

Labels do, however, say that the vapor is harmful and should be used outdoors if possible.

A report by the non-profit news site Public Integrity identifies victims of the chemical as ranging in age from 18 to 80. They included a teen-ager working a summer job, a mother of four and at least one worker nearing retirement.

Banned in Europe

The European Union banned methylene chloride from general use in 2011 but regulators in the U.S. haven't followed suit. Nor have they required better warnings. Containers warn of a long-term cancer risk but say little about the chemical's ability to kill users if the fumes are allowed to accumulate.

Nor is it easy for online shoppers to know which paint strippers contain the deadly chemical. Listings on Amazon and at the Lowes and Home Depot sites did not specify the ingredients of various brands. 

The Environmental Protection Agency is considering stricter regulation but the Halogenated Solvents Industry Alliance (HSIA)  says proper use of strippers and other chemicals is the key to avoiding death, Public Integrity reported.

Follow precautions

On its website, HSIA says it is "concerned" by recent reports of deaths involving the use of metyhlene chloride by bathtub refinishers and said it's important to follow the safety precautions outlined on product labels.

Those precautions include:

• Always wear protective gloves, protective clothing and eye and face protection to avoid contact with skin, eyes and clothing;
• Do not breathe mist, vapors or spray;
• Ventilate closed spaces before entering them and make sure that the solvent vapor concentrations do not exceed limits established by OSHA;
• Do not eat, drink or smoke when using the product;
• Always consult the manufacturers safety data sheet and label instructions before using and do not handle until all safety precautions have been read and understood;
• Use respiratory protection when vapor concentrations may exceed OSHA limits; pay particular attention to working in a closed environment;
• Store unused product in a cool, dry and well ventilated area;
• Properly dispose of any unused material and do not release the material into drains, water or groundwater;
• Properly train personnel in the safe handling, storage and disposal of methylene chloride and the appropriate safety procedures; and
• Do not use in areas where there is likely to be inadequate ventilation (e.g., bathrooms, basements, any confined areas, etc.).

New mortgage regulations take effect at the end of next week, changing disclosure forms and generally making the homebuying process more consumer friendly.

But that's not all the new Consumer Financial Protection Bureau (CFPB) regulations do. They also have provided some long-sought benefits to small, community banks that should make these often-overlooked institutions more of a competitive force in the mortgage industry.

Among the changes taking effect October 3 is a broadening of the small-creditor designation under the government's Qualified Mortgage (QM) rule. The change will allow more community banks to receive QM legal safe-harbor protection for mortgage loans they originate and retain in portfolio.

Qualified Mortgage

What's a Qualified Mortgage? In short, it's a loan that the lender has determined the borrower can repay. Before the housing meltdown, many lenders made loans without determining whether the loan could be repaid or not and many of them weren't.

A QM is one that has met specific requirements and does not contain any of the risky features that contributed to the foreclosure crisis. For the lenders, there are advantages to making a QM, not least of which is the ability to sell the mortgage on the securities market.

The Independent Community Bankers of America (ICBA), the Washington-based trade group representing largely small town banks, got a lot of what it sought in the final rule. For example, it says CFPB expanded the number of communities designated as rural, which it says will provide additional relief from mandatory escrow requirements and include more balloon-payment loans as qualified mortgages.

As a result, small independent community banks are better able to compete for mortgage business.

Additional flexibility

“ICBA strongly supports the CFPB’s reforms to its QM rules, which will help ensure community banks can continue making mortgage loans in their communities,” said ICBA Chairman Jack Hartings, who is also president and CEO of The Peoples Bank Co. in Coldwater, Ohio. “The additional flexibility CFPB has provided will enable community banks to better meet the mortgage credit needs of their customers who may not fit a standardized mold.”

Among the other rule tweaks that ICBA says benefit small banks, the final rule expands who can qualify as a small creditor to include banks that make fewer than 2,000 loans annually, up from the previous threshold of 500.

Another advantage – loans held in portfolio, in which banks retain 100% of the credit risk and a direct stake in the loan’s performance, will not count toward the loan total.

Consumer benefits

There may be benefits to consumers shopping for a home loan as well. Instead of being limited to working with a mortgage broker or large bank, that processes thousands of loans at a time, consumers have the option of working with a smaller bank, perhaps one in their local community.

The final rule expands the definition of “rural” to include not only certain rural counties, but any census blocks that are not in an urban area as defined by the Census Bureau. This expands banks' service area and includes more consumers.

Are consumers better off using a small, community bank over a major lender when they purchase a home? Will the process go more smoothly?

It might. In fact, that's the subject of a forum on Trulia, a real estate listing site, with numerous Realtors weighing in.

The consensus seems to be that small is better. Larry, an agent in Chapel Hill, N.C., recommends using a preferred local lender to ensure the transaction will be handled smoothly with a minimum of stress.

Eager to support your favorite Presidential candidate? That's fine, but an audit finds only 6 of 23 sites got a passing grade for their website privacy policies. Also, in today's Super PAC era, there's no guarantee your money will go where you think it's going.

Candidates Jeb Bush, Lincoln Chafee, Chris Christie, Martin O'Malley, Rick Santorum and Scott Walker all got passing grades, although Walker has since dropped out of the race.

The privacy audit was conducted by the Online Trust Alliance,  It found that four candidates' sites had no privacy policy at all, several others failed to disclose their data disclosure practices, and several more said that they would disclose personal data to others or even sell it.

Money to burn

And as for those Super PACs, it's important to remember that they are the result of judicial rulings, not Congressional intent. As a result, there are very few rules governing their actions and no laws about what to do with your money when they fold their tents.

Super PAC's supporting Scott Walker and Rick Perry, respectively, say they are returning supporters' money, but there's no guarantee others will do the same. A cautious investor might wait until the field narrows a bit before throwing money at one of the remaining entrants.

It's party time! Well, next month anyway, and a lot of people plan to be a part of it.

The National Retail Federation’s (NRF) Halloween Consumer Spending Survey, conducted by Prosper Insights & Analytics, finds that more than 157 million people in the U.S. plan to celebrate Halloween this year.

But they won't be spending as much to do it as they did last year. The survey says the average person celebrating will spend $74.34, compared with $77.52 last in 2014. Total spending on Halloween is expected to reach $6.9 billion.

“After a long summer, consumers are eager to embrace fall and all of the celebrations that come with it,” NRF president and CEO Matthew Shay said. “With a bit more confidence in their finances and still enjoying the perks of low gas prices, we expect those celebrating Halloween this year will look for several different activities to do with their family and friends. Retailers of all shapes and sizes will welcome millions of shoppers with promotions on candy and decorations and of course, costumes.”

Costumes get the lion's share

Consumers celebrating Halloween plan to spend an average of $27.33 on costumes for the whole family for a total of $2.5 billion on store-bought, homemade, large, and small costumes. Most of that will be for adult costumes ($1.2 billion), with $950 million for children’s costumes and $350 million for their pets. It’s estimated that 68 million people will dress up this Halloween and another 20 million pet owners will dress up their furry friends.

Nine in ten (93.7%) Halloween shoppers will buy candy, spending a total of $2.1 billion, and an additional 33.5% will buy greeting cards, laying out a total of $330 million. Two in five celebrants (44.8%) plan to decorate their home or yard, meaning there’s no question consumers will see their fair share of pumpkins, hay bales, and even life-size Minions and black cats strewn across their neighborhoods. The average person planning to buy decorations will spend $20.34, with total spending expected to reach $1.9 billion.

When it comes to how people plan to celebrate, most will hand out candy (67.8%) or dress in costume (43.5%). There will be no shortage of jack-o-lanterns lighting up windows this year, though, with 41% of people planning to carve pumpkins. Nearly one-third (31.5%) plan to throw or attend a party with friends and family.

Shopping till they drop

More consumers have decided to head to stores or shop online early to pick out costumes and decorations. More than one-third (34.1%) will start their Halloween shopping before the first of October, compared with 32.1% last year -- 40.9% will get started in the first half of the month and one-quarter (25%) will wait for the final weeks of October.

“People shouldn’t be too surprised when they see Halloween candy and decorations available in stores as early as September first,” Prosper Insights Principal Analyst Pam Goodfellow said. “Given that more than a third of Americans enjoy taking advantage of early-bird deals to kick off their fall celebrations, it seems there’s plenty of appetite among consumers to enjoy a perfectly ‘frightful’ Halloween.”

Similar to past years, the majority of consumers will find inspiration for their costumes online (31.4%) or will head to costume shops and retail stores (26.8%) before they make a final decision. Pinterest continues to grow in popularity among those looking for costume inspiration (13.3%), as this year’s percentage is nearly double the amount who used the site for inspiration just three years ago (7.1%).

Millennials remain the drivers of Pinterest traffic around Halloween though, with 24.9% of 18-24 year-olds and 23.7% of 25-34 year-olds using the site for costume inspiration.

Every working person occasionally (or maybe not so occasionally) dreams of the day when they can stop working and go into retirement. In order to be comfortable when you reach that point in your life, though, you should be continuously putting money into your retirement savings and not touching it. This last part, unfortunately, seems to be a problem for many Americans.

A recent report by Bankrate.com shows that nearly 30 million people took money out of their retirement savings this past year due to an emergency. Another 21 million people simply aren’t putting money towards retirement at all, which could prove costly when they reach an appropriate age.

Disparity between generations

In their report, Bankrate.com determined that millennials were the best at putting money towards retirement and not touching it; only 8% of people in this age bracket took money out of their savings prematurely in the past year. This may correlate to how they feel about their overall financial situation – 40% say they are better off financially than they were a year ago, while only 11% say they are worse off.

In contrast to millennials, people ranging in age from 50-64 are much more likely to think that their financial situation has worsened in the last year. The report shows that 26% of people in this age bracket admit to these feelings – the most of any other age group surveyed. Seventeen percent of people in this age group also admit that they have dipped into their retirement savings this past year to pay for an emergency.

“Using retirement savings to cover an emergency is a permanent setback to retirement planning, with the possibility of taxable distributions, early withdrawal penalties, loss of tax efficiency, and the inability to replace withdrawn funds in future years,” said Bankrate.com’s chief financial analyst, Greg McBride.

The site’s full survey can be viewed here.