Americans’ lives have changed drastically this year, and so have their financial habits. As a result of widespread economic instability, it’s been reported that 64% of Americans claimed their spending choices would be permanently changed in the wake of COVID-19. Even if nationwide concern about saving is on the rise, it’s important for consumers to keep an eye out for common traps like “spaving” when they do go shopping.
Spaving is a term used to describe when people end up spending more money in an effort to maximize their savings. Some common scenarios include adding extra items to your cart to qualify for free shipping, or buying things in bulk even when you probably won’t use everything. Most advertisers are guilty of encouraging spaving, especially during the holiday season.
To find out who admits to spaving and to pinpoint how this tricky spending habit creeps into our budgets, we surveyed … Read the rest