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Cover of the book Does This Make My Assets Look FatWhen it comes to retirement, many women are losing confidence that they’ll ever be able to afford it. Former managing director at JP Morgan Susan Hirshman, author of Does This Make My Assets Look Fat?, says in order to make retirement possible, women have to take a greater initiative and stop relying on anyone or anything beyond themselves.

“If you’re unaware, you end up being part of the ‘What if?’ club, where you only wake up when something happens and you say, ‘If only I knew,” says Hirshman.

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a dark photo of a banker holding a bag of cashAmericans have special relationships with their money and their banks. Putting money into a bank account is an act of trust, and it’s difficult to think of a checking or savings account as a business transaction because the money is still yours — the bank is just holding it for you and keeping it safe.

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a pack of running ostrichesA survey released today by Javelin Strategy & Research, which serves financial institutions, found in August that nearly one in five Americans doesn’t monitor or manage their personal finances. That rate is double what it was just a year ago. Despite the fact the recession has made it more important than ever to carefully track our money, when it comes to personal finances, 19% of Americans stuck their head in the sand. A year before, another survey had the figure at just 8%.

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FTC cracks down on robocallsAn international robocall ring that allegedly fleeced almost 13,000 consumers out of $995 apiece with empty promises to reduce their credit card rates has been shut down by a federal court at the request of the Federal Trade Commission.

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Come retirement age, women are typically in much worse financial shape than men. Even though women now account for about 50% of the workforce, they still make less than men (several hundred thousand dollars to upwards of $1 million less over a lifetime), and because women take time out of the office to care for kids and aging parents (women leave the office for an average of 12 years!), they have a difficult time getting back into the workforce and often must resort to part-time work. No benefits, no pensions.

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Payday loans can wreak havoc on a person’s financial life. These loans carry sky-high APRs and the penalties for late or missed payments can be extreme. Many consumers, who turned to payday lenders in a time of need, later find themselves worse off than when they started. In this series, WalletPop takes a look at the payday lending industry and some of its players: those who dole out the loans, the regulators who try to rein them in and the people who desperately take out these loans hoping for some relief. This is the third installment of our payday lending series. You can read the first part of this series here.

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Payday loans can wreak havoc on a person’s financial life. These loans carry sky-high APRs and the penalties for late or missed payments can be extreme. Many consumers, who turned to payday lenders in a time of need, later find themselves worse off than when they started. In this series, WalletPop takes a look at the payday lending industry and some of its players: those who dole out the loans, the regulators who try to rein them in and the people who desperately take out these loans hoping for some relief. This is the third installment of our payday lending series. You can read the first part of this series here.

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Social Security card surrounded by cashRemember Cold War bomb drills in elementary school where you had to take shelter under your desk? That’s what the deficit-reduction commission’s proposal to retool Social Security makes me think about. Well-meaning, but could it possibly be all that effective?

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Jean ChatzkyIf you’re having a problem with a business, Consumer Ally can help. Write us at HelpMe@WalletPop.com.

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Debt management plans If you’re struggling to pay your credit card bills each month, getting help from a credit card hardship program may sound like the perfect solution. But getting into one and reaping the benefits are easier for some cardholders than others, and there are myriad factors that come into play. Still, it’s an option many are turning to in these tough economic times: A Bank of America modified $10 billion in consumer credit last year alone.

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