Black Friday May Make You Poorer
Listen up. Even if you're one of those people who get up before dawn to go stand in line, then shove your way through the crowd, on Black Friday , you're probably going to spend more than you intend, anyway, according to newswise.com. The web site reports that n ew research suggests some types of discounts encourage shoppers to overspend. That's why I usually stay home on Black Friday. I don't need any more reasons to spend more! Researchers explored promotional credit deals and how they can lead to fallacious thinking in consumers. “Let’s say you went to Ann Taylor Loft, you bought a sweater for $50 and received $10 of Loft credit to spend in the future," says University of Delaware’s Andong Cheng . "This purchase feels like it’s only $40 instead of $50. And then later, you spend the $10 on another shirt and feel like the shirt is free, because you’ve only been spending that merchandise credit instead of more money out of your pocket.” In this sc...