There are many reasons mom and pop shops, banks, credit unions, and other financial institutions are leaving jewelry on the rack, but a new report suggests there’s a better way to do it: wear a necklace.
The Consumer Financial Protection Bureau has been tracking the issue for the past year, and the latest report found that over $8 billion in jewelry was left behind on a typical bank or credit union’s shelf.
The bureau’s report found more than $300 million in jewelry left behind in 2016 alone, with a significant percentage of that being worn by women.
The bureau found that women who left jewelry behind had been more likely to have received a bad credit score, while their husbands had been at a higher risk for foreclosure.
The bureau also found that the most common reason for jewelry to get tossed is because of “an emotional attachment.”
“Women were less likely to own jewelry in an emotional attachment,” the bureau found.
Women who left their jewelry behind were also more likely than men to have a history of mental health issues, such as substance abuse, substance abuse disorders, and suicidal ideation, the bureau said.
For many women, the decision to leave jewelry behind is a decision that’s never been easy.
The Bureau of Labor Statistics said that about 16 percent of Americans said they didn’t think jewelry should be kept on the shelf, with about 12 percent of women saying they thought they shouldn’t.
According to the Bureau of Economic Analysis, nearly half of women who are divorced and remarried or have a second marriage have an average credit score of 660.
Many of those women may have been looking to move on from their jewelry, but their debt loads are still rising, according to the bureau.
The Bureau’s latest report also found a correlation between the types of people who have trouble paying their credit card debt and the types who don’t have credit scores.
About 37 percent of people with debt who are in a negative or near-negative credit situation said they had a bad score, and more than 40 percent of those who had a credit score above 620 said they also had trouble paying off their debts.
The BLS says that women are more likely in a “negative” credit situation because they have a higher percentage of those with a history that includes: credit card fraud, bankruptcy, or the inability to pay off a debt.
As for women who didn’t have any credit scores, the BLS found that those who did have a negative score were more likely: to have been the victim of an assault or domestic violence, had a history with physical or sexual violence, and had a family member or friend who was abusive or controlling.
The report also shows that women with lower credit scores were more at risk for defaulting on their debt, as well as experiencing negative financial situations.
“There is no excuse for a woman with low credit scores to feel as she does when she can’t make payments on her credit cards, or when her husband is unable to provide for her,” the report said.
“Women who don.t have a credit history should consider other avenues for financial independence and should be aware of the consequences if they are unable to pay their bills.”
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