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Tuesday 13 February 2024

'Romance scams' cost consumers dearly

05:23

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Here's one woman's story. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Feb 13 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

Liza Likins, who sang backup for such music icons as Stevie Nicks and Linda Ronstadt, was lonely and depressed after her husband, Greg, died in 2020. 

When a handsome blonde-haired man who resembled her late husband started messaging her on Facebook, Likins was lured into a relationship. She gave more than $1 million to a romance scammer – someone who convinced the singer he was in love with her, and he would join her in Las Vegas.  

In 2023, consumers lost $1.14 billion to romance scams, which bilk people out of money for love, Betty Lin-Fisher reports. Read her story here.

What is Temu?

Confused about all of the Temu ads that played during this year's Super Bowl? You're not alone.

Searches for e-commerce company Temu spiked after the company aired five commercials during and shortly after the game, each showing colorful animated characters purchasing goods for as little as 99 cents. A perky song played in the background as characters danced across the screen, promising viewers the chance to "shop like a billionaire." 

A quick search on the platform's website reveals jaw-dropping deals: $8 sneakers; $18 Airpod lookalikes; a $4 Stanley cup dupe.

But are the site's low prices worth it? Read Bailey Schulz's story to find out.

📰 More stories you shouldn't miss 📰

States with the strongest, weakest growth
Should I encourage a workplace relationship?
The pros and cons of a big tax refund
What is an annuity?

🍔 Today's Menu 🍔

Dumplings for the dumped: P.F. Chang's says it will give six free dumplings to anyone who was recently dumped via text message, as part of a uniquely cynical Valentine's Day promotion.

From Feb. 7 through Feb 24, you can redeem your dumplings by proving you were dumped, Anthony Robledo reports. To redeem the deal, text the code "CHANGSDUMPLINGS" to 855-697-6181 along with a breakup story or screenshot of the breakup text. Then, await further instructions and claim your dumplings. Read the story.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Liza Likins of Las Vegas is photographed on Feb. 9, 2024. She was part of a romance scam, bilked out of $1.2 million from a man whose images looked like her late husband. ÒÔOnward and upward with gustoÕ is my motto,Ó Likins commented.

Liza Likins thought "Donald" was in love with her. Instead, he cheated her of more than $1 milllion in a romance scam.

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This photo illustration shows the Temu app in the App Store reflected in videos of Temu consumers, in Washington, DC, on February 23, 2023.
 

What to know about online marketplace Temu

What to know about Temu, the online marketplace that was featured in multiple Super Bowl ads this year.

Easily find a place for a romantic dinner.
 

Should I encourage a workplace relationship? Ask HR

Some companies have strict rules about colleagues dating, even if they don't directly work together.

P.F. Chang's is offering six count of dumplings to anyone who shows a breakup text they received as part of a Valentine's Day promotional deal from Feb. 12 through Feb 21.
 

P.F. Chang's is giving free breakup dumplings to those dumped over text

As Valentine's Day arrives some relationships will come to an end. P.F. Changs will give a free six count of DUMPlings to those broken up over text.

A Dixie employee leads an applicant as a sign guides job seekers to their designations during the Dixie Job Fair hosted at Jackson TCAT in Jackson, Tennessee, on Thursday, Jul. 20, 2023.
 

Looking for work? These states have the strongest, weakest job growth

he U.S. turned in another surprisingly strong year of job growth in 2023, defying forecasts of a slowdown amid historically high interest rates .

Tax filing season is upon us, and Americans eagerly await their refunds. The IRS got an early start on processing taxes in 2022. This year's tax season began on Jan. 24 as opposed to Feb. 12 of last year. The deadline to file taxes this year is April 18, and so far, the average refund has been higher than last year's. The IRS reports that as of March 25, the average refund was $3,263, up from $2,902 in 2021.    Kiplinger.com notes in   an article that people expecting large refunds tend to file early, so the average amount may be lower when all filings are processed. On the other hand, other factors could yet increase average refunds. For example, most taxpayers could get a boost if they did not receive their Economic Impact Payment of $1,400 or did not take advantage of the expanded child tax credit in 2021. (   Here are some common tax mistakes people make   .)    Other factors that could affect the tax refund are state-dependent. To determine the states with the largest average tax refund, 24/7 Wall St. reviewed data on tax filings and refunds from the Internal Revenue Service. States were ranked based on the average   income tax refund amount issued per individual income tax filing in the 2020 fiscal year.     The good news is that in all states except Oregon the average federal income tax refund exceeded $2,000 in the 2020 fiscal year. Texans scored the highest amount at $2,682.     So what will Americans do with their hefty check? In February, the    National Retail Federation    surveyed 7,929 adults about what they planned to do with their refund. Most said they will use the funds wisely, with 51% targeting the dollars for savings. Thirty-three percent plan to pay down debt. (   Here's what Americans spend their money on   .)
 

Big tax refunds: Are we cheating ourselves all year for a big payday?

Your refund is money that rightfully belonged to you all year long that the IRS has been collecting and holding.

A Delta airline flight lands as crews remove snow from the Albany International Airport during a winter snow storm Tuesday, March 14, 2023, in Albany, N.Y.
 

1K flights canceled in the Northeast as winter weather moves through

Airlines have canceled hundreds of flights as a winter storm dumps snow on the Northeast.

This photo provided by Cetaphil shows an image from the company's "Game Time Glow," 2024 Super Bowl NFL football game ad campaign. (Courtesy of Cetaphil via AP) ORG XMIT: NYSB754
 

Cetaphil partners with creator to resolve claims around viral Super Bowl ad

Sound familiar? In 2023, Sharon Mbabazi uploaded 3 videos of her dad talking to her about Taylor Swift and football as she did her makeup on a vanity.

Stuart Lipper, 68, experienced age discrimination starting in his 50s.
 

Older workers sound the alarm on age discrimination in the workplace

Older workers are everywhere these days. And so, it seems, is age discrimination.

Congresswoman Judy Chu, chair of the Congressional Asian Pacific American Caucus
 

Why Asian lawmakers are standing up for DEI

The Congressional Asian Pacific American Caucus is calling on companies to reaffirm commitments to DEI despite attacks from Elon Musk and Bill Ackman.

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