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Holiday Spending Is Expected to Increase; Consumers Are Still Paying for Last Year's Presents | |
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| Time: 17:42 EST/22:42 GMT | News Source: Microsoft Press Release | Posted By: Jonathan Tigner | ||
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Before heading to the mall on the busiest shopping day of the year, consumers should consider ways to avoid the classic holiday spending hangover. Recent statistics show that 54 percent* of U.S. consumers are still paying off credit card debt from the last holiday season. Yet economists predict that shoppers in this country will increase their holiday spending by 6.3 percent** this year. From buying presents and traveling to entertaining and decorating, this weekend starts the season of overspending for many consumers. A few smart spending strategies plus an awareness of common holiday spending mistakes can help save them from paying for the holidays long into 2004. MP Dunleavey, award-winning columnist for CNBC on MSN Money (http://money.msn.com/), offers the following simple steps to avoid the post-season doldrums: | ||
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