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Top financial mistakes most people make during the holidays

Posted at 8:43 AM, Nov 26, 2019
and last updated 2019-11-26 09:43:01-05

Holiday shopping kicks into high gear this week, but are you saving the most money?

Personal finance comparison site,, conducted the study with a thousand people, 18 to 64 last month.

They found nearly 7 out of 10 people in the study admitted to making a big financial mistake during the holidays.

The biggest mistake? Shopping at the last minute.

We had no trouble finding people who fall into that category.

"I probably spend way more than I should during the holidays,” Rachel Bucher, a shopper said. “I tend to be a last-minute shopper."

She's not alone. More than 10 percent of shoppers said holiday shopping was the biggest reason they take on more debt each year.

Marketing Professor, Felicia Miller said that's the type of spending behavior businesses are wishing for this Christmas.

Even the layout of the stores are intended to entice you - so you have to be aware.

"You really do,” Miller said. “People literally run into these aisles!"

But some shoppers are already fighting back.

"Early shop, take your time, and you’ll see stuff,” Norma Hines, a shopper said. “Get it right away so you don’t overspend."

If you plan to shop online, make sure to do your homework to ensure you're getting the best deal.

“They will find an item at a particular website or even particular store and they can do their research to quickly figure out where can I get this cheaper."

The bright side is about 31 percent of people who took the survey said they have no holiday-related money issues.

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