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SmartCredit.com Consumer Education President John Ulzheimer on how to prevent overspending this holiday season.
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Well the pick up to the holiday shopping season is just days away and I of course I'm back about Black Friday.
While I plan on doing some most of my shopping online and not getting into the mass I was surprised to learn that most items bought on Black Friday are not gifts for others therefore it.
Yourself John Alzheimer is the president of consumer education -- Smart credit dot com.
John welcome and let me give you this number that we got from out of folks who run their shopping center trade group.
They say 75%.
And shopping this week it is going to be people buying for themselves.
And can't really blew me away I don't think that happens.
Well that just underscores the big problem that people are gonna run into over the holiday shopping season which is they go to the mall.
Without any sort of plan and mine they just go to the mall maybe they're they got to have to get something for somebody to just don't know what it is or how much they're gonna -- that just walk up and I'm always.
And they end up buying stuff for themselves more I don't know -- -- other people.
I look -- planet let's face it it's tonight gonna be a nightmare this weekend to use a very you are in the middle of the Malay people are all around you can't find what you -- We end up buying the first thing the date that you find so I think it's an exercise in frustration offering -- But easier things to watch out for this week and if you are gonna go out starting with greasing what is what does that mean.
Yet at the -- applied -- data goes to the grocery store just after our that he.
It would without having you anything -- Dane he's starving he spends 20% more on groceries any planned on spending -- -- the same thing.
Relative to the holiday shopping -- -- -- of volume eight -- -- I guess but you have no clue how much you wanna spend.
So you -- up and down the hallways and you're always gonna spend more than you planned break because you don't have any sort of budget minded as -- up that's perfect let's go ahead and get an -- get out of here and about the picked over inventory.
You're gonna pay whenever you can't that you wanna get the heck out of dodge.
Not a good way to shop well.
Well mark ups you gonna see some mark -- I everything is on sale right now.
I'll I love it this is my favorite thing it's it's deceptive marketing my wife might -- funny because she thinks marketing as often this is totally deceptive marketing.
It's it's 50% off.
Always increase the price by X percent now so 50% off literally against the mark dot priced.
Not on the normal retail price of just -- you can find more better deals online because it typically don't do that.
But the same Barbara that they do in the -- site shopping locations -- not like in the bricks and mortar let's talk about return policies.
Are they gonna be generous this -- -- not.
Probably not be very very careful if you're pulling stuff off the -- track saving big -- -- to purchase.
You better get the right size you'd better get the right column because the chances of them and taking it back.
Are very very small.
OK I -- a talked about a problem I'm having -- so I just got a new rewards card.
And I'm putting absolutely.
Everything I buy on -- it's like it's like a disease -- go back I go to -- Laptop and a and I look up how many points I have and I'm looking around for what I can buy it some of looking addiction is -- normal thing.
-- you're totally hot it's like the crack cocaine of plastic.
I'm -- rewards cards people chase the rewards are caught chasing -- -- And don't spend thousands and thousands of dollars trying to earn enough points -- earn enough bought miles to buy something that make it a purchased at retail for retail price.
For a couple of hundred box airline miles of the best example 25000 dollars a real spending.
To earn enough points to get one roundtrip Coach airfare ticket.
I at a targeted date that you really don't wanna travel anyway if it does that make that -- cents to chase those points like that wow.
That's depressing OK that's exactly what I was doing.
RE there was a bigger say at the end of the day what you wanna do is know what -- buying in the -- -- should be paying.
And shop online instead of in the bricks and mortar store at MI -- understanding you right.
I don't know do you not email -- -- that that hit the nail on the head Jerry why in the world I wanna spend 350 per gallon gas to drive to the mall to wait thirty minutes apart.
To pick -- -- picked over inventory in May or may not get -- -- to the deal as I'm being told that I'm getting.
Who like his -- on line in the comfort of my own home in my underwear and -- -- ship it to be for freight.
I say you're just a guy when you shop I mean all men wanted to get out -- -- -- like that exactly are you so you are not a -- you're not gonna be -- target that went in the morning is that what I'm hearing.
-- come on are you kidding me you you'd have to.
-- I'm not going to be one of the 152.
Million people are they're gonna be able lives that we -- -- ma'am shop on line have a ball.
-- thank you I don't get a great Thanksgiving appreciate your time yeah likewise -- they had to.
