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Shopping regrets? How buyer’s remorse is costing you money

Shopping regrets? A new study shows the average American spends over $2,000 a year on purchases they wish they hadn’t gone through with. It was also revea...

Shopping regrets? A new study shows the average American spends over $2,000 a year on purchases they wish they hadn’t gone through with. It was also revealed that 76% are guilty of making an impulse purchase, and it takes the average shopper nine hours before regret over a whimsical buy sinks in.

The top impulse buys include clothing, food, shoes, drink and jewelry. One of the main influences of overspending — online shopping. 64% think they’d save a lot of money if they stopped browsing the internet.

Main motivators of impulse buying are:

  • Being on vacation
  • Just thinking about a future occasion to shop for
  • Peer pressure
  • Late nights out

Meanwhile, the survey found 38% still think they’re “very good” with money. But in spite of thinking they’ve got their finances under control, 56% say that they’ve hidden purchases from family and friends out of sheer embarrassment.

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