Why shoppers might want to consider “slow spending” this holiday season

WEST PALM BEACH, Fla. – Black Friday and Cyber ​​Monday are almost here and WPTV took a look at the latest trends in holiday shopping, including the “slow spending” trend.

Immediately new report says Americans owe more than a trillion dollars on credit cards, Money experts say we should slow down our spending this holiday season.

Ted Rossman of Bankrate.com said the first rule to avoid “slow spending” is to avoid storing your credit card number on websites so you can easily click and buy. Also avoid ‘buy now, pay later’ promotions and just take your time and sleep on it before making a big purchase.

WPTV

“Some people say they have to sleep on it one night for every hundred dollars the item costs,” Rossman said. “The underlying problem we’re dealing with is credit card debt.”

Credit card debt is a big problem in the US. Rates are still over 20%, and Americans are racking up their balances, with online impulse purchases a big driver.

“Instagram and TikTok now both have social commerce engines where you can just click on it and it says, ‘Hey, you want the outfit this influencer is wearing, click here to buy it,’” Rossman said. “That’s eerily simple.”

It can be a difficult habit to break, but it can save you a lot of money in the long run.

Matt Sczesny is committed every day to helping you find solutions to the collapse of reporting in Florida. If you have a question or comment about homeowners insurance, you can always contact him.

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