The holidays are a time to be joyful and merry. One way to be merry is to shop for stuff. And shop for stuff. And then shop for more stuff.
According to new research released by discount wireless carrier Mobilicity, 58% of Canadians say they spend more than they should during the holidays. And 59% find themselves making impulse purchases.
This overindulgence leads to feelings of guilt, remorse, and what Mobilicity dubs the "holiday shopping hangover."
The survey also found that one in five Canadians identify themselves as "binge shoppers," saying their holiday shopping is a whirlwind activity that packs a lot into a short period of time. 71% of bingers say they spend more than they should.
“We’ve all been guilty of spending too much or making impulsive purchases during the holidays only to regret it later, much like having one too many drinks," Angela Self, a personal finance expert, says. "While most hangovers can be cured with rest and hydration, the ‘holiday shopping hangover’ can only be cured and even prevented through smart planning and spending.”
Maybe we overspend because of how easy it is now: we can easily blow thousands of dollars just by fiddling around on e-commerce sites on our laptops and m-commerce on our smartphones, as evidenced here.