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December 9, 2019

Some holiday money-saving strategies can backfire

  • Consumers who shopped at sales were 50% more likely to say they spent more than they expected.
    • By BEV O'SHEA
    NerdWallet

    Holiday marketers have your number, and they know how to entice you to spend.

    You try to rein it in. But two favorite strategies can lead to spending more, according to a 2018 survey by the Center for the New Middle Class, a research organization funded by Elevate, which lends to credit-challenged borrowers. Consumers who shopped at sales were 50% more likely to say they spent more than they expected. Among shoppers who used coupons, 38.5% said they overspent.


     
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