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Impulse spending is up during pandemic, experts say – New Orleans, Louisiana

New Orleans, Louisiana 2021-09-15 05:10:00 –

More self-isolation and time at home gave those who have a little extra purchasing power. However, financial experts warn that power can lead to an impulsive urge to buy. “Whenever there is good news, whenever people feel hope and optimism, they are really excited and spending more,” she said. That’s why financial expert Sue Logan says impulse buying is difficult. “We often see around special events in holidays and people’s lives. I want this,” said Logan, director of the Maryland Cash Campaign, “around the dollar. It can also ease vigilance and throw away money. ” By first checking the budget, Logan said, “It’s very important to put some money in your spending plan, whether it’s for fun or to buy what you want.” .. The reason to buy will help. She also recommends buying one or throwing away another, taking the time to think about it. It can take up to 6 months before you buy. Logan said. Watch the video to learn more about this story.

More self-isolation and time at home gave those who have a little extra purchasing power. However, financial experts warn that power can lead to an impulsive urge to buy.

“Whenever there is good news, whenever people feel hope and optimism, they are really excited and spending more,” she said.

According to the National Retail Federation, retail sales increased by more than 15% compared to the same period in 2020. As a result, financial expert Sue Logan says impulse buying is difficult.

“We often see around special events in holidays and people’s lives. They say,” Oh, I deserve this. I need this. I want this. ” It tends to be like. So sometimes we relaxed around the dollar and just let them abandon, “said Logan, director of Maryland’s cash campaign.

You may want to make a small purchase to help a local business, but Logan first looked at your budget and said balance was everything.

“It’s really important to have some money in your spending plan, whether it’s for fun or to buy what you want,” Logan said.

Logan said it helps to understand the external and internal factors behind the reasons for buying. She also recommends buying one, throwing away another, or taking some time to think-up to 6 months before buying.

“What can I spend to make me feel like I’m in control of my dollar?” Logan said.

Watch the video to learn more about this story.

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