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2 in 3 Black Friday Shoppers Bought More Than Usual, Maxing Out Credit Cards and Opening New Ones

CreditCards.com·David Haynes·about 1 month ago
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The 2024 Black Friday/Cyber Monday shopping season has ended, leaving more Americans in debt. CreditCards.com examined how this year’s sales affected Americans’ finances by surveying 1,000 U.S. adults who participated in Black Friday and/or Cyber Monday. Key findings include: Over one-third of shoppers spent more than they wanted to Two-thirds bought more than they normally would; many cite “doom spending” 1 in 4 took on new or additional debt to fund their Black Friday shopping Half of those who went into credit card debt for Black Friday maxed out their cards 1 in 3 said holiday shopping worsened their financial stress 4 in 10 Shoppers Spent More Than They Intended To When asked how they view the amount of money they spent on sales this year, 12% of respondents said they spent less than they intended to, 51% spent as much as they planned to, and 37% spent more than they budgeted for. Among those who overspent, 87% said impulse buying somewhat (53%) or greatly (34%) affected their spending habits.…

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