Page 25 - ARUBA TODAY

BUSINESS Friday 6 december 2019
A25

Holiday money-saving strategies that can backfire

By BEV O’SHEA of what you are spending
Associated Press and what’s left.
Holiday marketers have Having a successful holi-
your number, and they day spending plan may
know how to entice you to also inspire you to cre-
spend. ate a budget to help you
You try to rein it in. But two achieve financial goals
favorite strategies can throughout the year.
lead to spending more, UNDERSTAND HOW SALES
according to a 2018 survey CAN COST YOU
by the Center for the New Shopping sales can be
Middle Class, a research smart — but only if you’re
organization funded by strategic and aware of the
Elevate, which lends to psychology at play. Kre-
credit-challenged bor- isler says if you see a $100
rowers. Consumers who cashmere sweater marked
shopped at sales were down to $40, your brain
50% more likely to say they registers “saving $60.” Train
spent more than they ex- yourself to translate that to
pected. Among shoppers “spending $40” and com-
who used coupons, 38.5% pare how it fits into your
said they overspent. spending plan.
Many shoppers try to be Then, figure out how much
careful instead of making In this Nov. 29, 2019, file photo people walk by a Black Friday promotional at Cookie’s department the sweater is worth to you.
a spending plan. Using a store in the Brooklyn Borough of New York. Would you still want it if $40
budget can feel like it’s Associated Press was the regular price? It’s
wringing the joy out of a the same sweater and the
happy season. Why? Giv- of PeopleScience.com, and founder of the Fiscal seem so futile you don’t same money but minus the
ing feels good, says Jeff which applies behavioral Femme website, advises bother trying, she says. “It’s rush of feeling that you got
Kreisler, co-author of “Dol- science to the market- setting aside time — not like being on a strict diet a deal.
lars and Sense: How We place. over an hour — to list holi- and figuring if you cheat- Watch out for impulse
Misthink Money and How However, you can posi- day expenses. Build in a ed and had a cookie, you purchases, too. Gerstley
to Spend Smarter.” tion yourself to recognize buffer, because you’ll for- may as well eat the whole says she’s encountered
But simply being careful — and overcome — over- get some things. But you’ll bag.” products she never knew
doesn’t work, “because a spending triggers. be better off if you have a If you worry about over- existed while shopping
lot of the reasons we make USE THE BEST DEFENSE: A number in mind, she says. spending, consider get- (think cell phone sanitizer
poor financial decisions HOLIDAY BUDGET Be realistic, not rigid, about ting a prepaid gift card in or weighted blanket) and
are unconscious,” says Kre- Ashley Feinstein Gerst- your budget. Otherwise, that amount, Kreisler says. suddenly wanted them.
isler, who’s editor in chief ley, a financial coach controlling expenses can It can help you stay aware Badly. She’s a fan of “the
48-hour rule”: Put the item
Stocks fall in early trading as investors wait on trade back on the shelf or aban-
don your virtual cart, and
By DAMIAN J. TROISE been calling for the U.S. to Dow Jones Industrial Aver- day showed that the U.S. if you still want it 48 hours
Associated Press roll back some of them as age fell 46 points, or 0.2%, services sector, which later, go ahead and buy it.
NEW YORK (AP) — Stocks part of the latest push for a to 27,600. The Nasdaq fell makes up the bulk of the Often you won’t, she says.
wobbled between small deal. 0.2%. The Russell 2000 index economy, grew at a sur- Understand that marketers
gains and losses on Wall Health care stocks led the of smaller company stocks prisingly slow pace. That use one-day sales or even
Street in early trading Thurs- decline. Gilead fell 1.8% fell less than 0.1%.European does not bode well as a shorter buying windows to
day as investors waited for and Edwards Lifesciences markets moved higher and gauge for the economy create urgency.q
the latest news on nego- shed 2.7%. Retailers were Asian markets were mixed. while the manufacturing
tiations to end the trade also among the compa- ECONOMY WATCH: Wall sector continues shrink-
war between the U.S. and nies losing ground. Costco Street has been assessing ing.Payroll processer ADP,
China. fell 1.2%. disappointing economic on Wednesday, reported
The losses follow Wednes- Technology stocks also data this week in the lead- that private employers
day’s advance on a report slipped. The sector has up to a highly anticipated added far fewer jobs in
that Washington and Bei- much to gain, or lose, in jobs report. November than econo-
jing could be on track for a trade negotiations be- Data released on Wednes- mists expected. q
trade deal before new tar- cause many of the com-
iffs are set to hit some pop- panies rely heavily on Chi-
ular products, including na for sales and supplies.
smartphones, on Dec. 15. Rising bond yields lifted
Investors received mixed banks. The sector relies
signals earlier this week, in- on higher bond yields to
cluding President Donald charge more lucrative in-
Trump’s statement that he terest on loans. The yield
wouldn’t mind waiting for on the 10-year Treasury
a deal beyond the 2020 rose to 1.81% from 1.78%
elections. late Wednesday.
Existing tariffs have been KEEPING SCORE: The S&P
a key sticking point in ne- 500 index fell 0.1% as of
gotiations and China has 10:25 a.m. Eastern time. The