2017 Year in Review: A look at Americans’ financial habits

first_img continue reading » 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr 2017 was a momentous year for Americans and their finances, specifically in regards to household debt. According to the Federal Reserve Bank of New York, household debt reached a new high of $12.96 trillion in the third quarter of 2017. That was $280 billion higher than the previous record set in 2008. What does this unprecedented imbalance say about Americans and their financial habits?GOBankingRates conducted numerous financial surveys throughout the year to probe this question. Click through to get a closer look at Americans and their money in 2017, and find out if there’s any hope for our financial future.last_img read more


first_imgA man has been fined and ordered to pay compensation after he admitted using counterfeit notes in a number of businesses in Buncrana last year.Father-of-six John Mongan, 41, of 5 Foxhill Close, Enniskillen, Co. Fermanagh was charged with ‘passing’ or using counterfeit currency [notes or coins] at Cards N Candies, Munchies, Supervalu on the Cockhill Road, and the Lily Rose Café – all of which are at Main Street, Buncrana – on September 23, 2015.Mongan is also charged with being in ‘custody or control’ of the counterfeit currency in the four local businesses and a further charge of being in control of it at the Stone Jug, Buncrana. Appearing before Buncrana District Court in handcuffs last Thursday, Mongan pleaded guilty to all the charges before him.The court heard that Mongan, was currently on remand in Castlerea prison for a similar offence in Cavan.Inspector Denis Joyce told the court that Gardaí received a complaint from the Lily Rose Café that a man had attempted to pass them a counterfeit £50 sterling note on the afternoon of September 23, last.They then obversed Mongan trying to use another fake £50 note at Munchies sweet shop on Buncrana’s Main Street. Following Mongan’s arrest Gardaí searched his car, which was parked at the Stone Jug and found four more £50 notes in his possession.The court heard that Mongan also attempted to pass the £50 note at Cards n’ Candies and Supervalu in Buncrana.Insp. Joyce revealed that Mongan was successful handing over the counterfeit cash at Supervalu. He said Mongan bought items and received €67.57 in change.The Garda Inspector said Mongan admitted the offence to Gardaí and apologised for his actions.He added that Mongan had a number of previous convictions including two for theft and entering a building with intent on June 7, last year from Buncrana Court.Mongan’s defence barrister told the court that his client committed the crime ‘out of financial desperation’.He said Mongan is a 41-year-old married man with six children, one of which has autism and ADHD, whom he cares for along with his wife. He said Mongan, who suffers from bi-polar condition, was unemployed and ‘always in receipt of benefits’. The defence barrister said Mongan obtained the notes ‘knowing they were fake’ and attempted to pass them in Buncrana.“He accepts what he has done but it was out of financial desperation,” said the Barrister.“It was a stupid act and I know it’s no defence but things are extremely tight. He had a desire to provide for his family – it was nothing to do with greed.“He apologises to the gardaí, the court and the shops involved for the inconvenience, in particular Supervalu for their loss.”The barrister revealed that Mongan had been handed a two year suspended sentence for similar offences in February, but that sentence was not to activated by the court as the Buncrana matters ‘pre-dated’ that.Judge Paul Kelly said it was unacceptable that Mongan was ‘wandering around Buncrana trying to get someone to take the fake notes’.He said Supervalu had to be compensated for their loss. He noted that there was €300 cash bail on file for Mongan so he fined the Northern Ireland man €233 and ordered a compensation order of €67 towards Supervalu, both were payable forthwith.MAN WHO USED FAKE NOTES TO CON BUSINESSES ORDERED TO PAY COMPO was last modified: May 14th, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalDUDSforgeryJOHN MONGANlast_img read more