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☆ Americans can't stop 'spaving' — here’s how to avoid this financial trap
▼ + stars: | 2024-05-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Spending more to save more is an all-too common pitfall. But spending to save can lead to excessive buying habits and high-interest credit card debt if you aren't careful, according to consumer savings expert Andrea Woroch. ″'Spaving is us justifying our desire to buy more," said Brad Klontz, a Boulder, Colorado-based psychologist and certified financial planner. Yet, even as inflation and high interest rates squeeze budgets, consumers continue to fall for these financial traps. "We are just constantly spending more than we can afford and then we experience stress related to our financial health," Klontz said.

Persons: Andrea Woroch, Brad Klontz, Klontz, spaving Organizations: Finance, YMW Advisors, CNBC's Locations: Boulder , Colorado

☆ Financial lessons to be learned from the viral 'Who TF Did I Marry?' TikTok series
▼ + stars: | 2024-02-27 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Some financial abusers use their partners to take out massive amounts of debt or make expensive purchases in their name. But experts told BI there are some early warning signs to keep an eye out for that may mean you're not a financial match. Andrea Woroch, a consumer finance and budgeting expert, told BI that partnering up with someone with similar financial values when it comes to spending and saving helps to minimize financial conflicts and fights. AdvertisementJacqueline Newman, a divorce attorney, told BI that someone who is "incredibly shady" about their income, or constantly changes their stories about their finances could be hiding something. "Keep an eye on their purchasing habit," he told BI.

Persons: —, Reesa Teesa, it's, Teesa, Legion, Jerome JC Rome McCoy, MailOnline, McCoy, Andrea Woroch, Woroch, Jacqueline Newman, Chad Willardson, Willardson, I've, Newman Organizations: Service, Business, Legion, Facebook, BI Locations: Covid

☆ Forget quiet luxury. 'We don't need half of these things,' celebrity stylist Allison Bornstein says
▼ + stars: | 2023-11-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Allison Bornstein, author of "Wear It Well". More likely, we're encouraged to wear Loro Piana cashmere baseball hats and carry $300 Smythson notebooks like Gwyneth Paltrow in the name of "quiet luxury" and justify such expensive purchases using "girl math." "We don't need half of these things," said Allison Bornstein, a celebrity stylist and author of the new book "Wear It Well: Reclaim Your Closet and Rediscover the Joy of Getting Dressed." Actress Gwyneth Paltrow exits a courtroom in which she is accused in a lawsuit of crashing into Terry Sanderson during a 2016 family ski vacation, Park City, Utah, March 21, 2023. Rick Bowmer | Afp | Getty ImagesZoom In Icon Arrows pointing outwards Allison Bornstein's book: “Wear It Well”.

Persons: Allison Bornstein, Jennifer Trahan It's, we're, Gwyneth Paltrow, Terry Sanderson, Rick Bowmer, Allison Bornstein's, Andrea Woroch, Woroch Organizations: Starbucks, Afp, Getty, Bank Locations: Park City , Utah

☆ From Amazon to Target, here's a look at some of the biggest holiday sales happening now
▼ + stars: | 2023-10-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Here's a look at some of biggest sales events happening now. This year, other big-name retailers are getting a head start by launching their own holiday sales earlier than ever, according to Katie Roberts, consumer analyst with DealNews.com . You can set up deal alert notifications on Amazon or through your Alexa device so you'll know when the price changes. Prime members can also sign up for invite-only deals on the items that typically sell out fast. But first, you must be an Amazon Prime member.

Persons: Katie Roberts, Andrea Woroch, fryer, Dyson, Barbie Organizations: DealNews.com, Black, Amazon, Sony, Bose, Philips, Finance, July's, Hasbro Locations: iRobot

☆ Parents face the most expensive back-to-school season to date. Here's how to save on supplies, deal hunters say
▼ + stars: | 2023-08-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Families with children in elementary through high school plan to spend an average of $890.07 on school supplies, $25 more than last year's record of $864.35, the NRF found. Already, credit card debt stands at more than $1 trillion, its own all-time high. Consumer finance expert Andrea Woroch recommends applying, if you qualify, for a new credit card with a sign-up bonus. watch nowThen use a cash-back site such as CouponCabin.com to earn money back on online purchases, including back-to-school supplies from Target, Walmart and Macy's. The experts at RetailMeNot recommend stacking discounts; for example, combining credit card rewards with store coupons and cash-back offers while leveraging free loyalty programs.

Persons: Philippe Huguen, Julie Ramhold, Ramhold, Andrea Woroch, Woroch Organizations: National Retail Federation, CNET, CNBC, Philippe, AFP, Getty, DealNews.com, Labor, Finance, Walmart Locations: New Jersey, Target

☆ TV prices sink ahead of the Super Bowl — here are the best deals
▼ + stars: | 2023-02-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Nearly 200 million people will watch the Philadelphia Eagles face off against the Kansas City Chiefs in the Super Bowl on Feb. 12, which might be a good motivation to buy a brand-new television. Now, retailers like Target and Best Buy are trying to clear out last year's models in order to make room for this year's, so they are lowering prices even more, according to Julie Ramhold, consumer analyst with DealNews. Among her other top picks are a 75-inch LG 4K smart TV with built-in Alexa and Google voice assistants for $749 at Walmart and a 55-inch Sony 4K smart TV for $480 or 60-inch Samsung 4K smart TV for just $450, both at Best Buy. "We see deals on more brand names rather than those generic TVs and the deals are primarily on those larger screens," she said, such as an 85-inch Samsung 4K smart TV for $300 off at Sam's Club. Woroch recommends shopping for "open box" or certified refurbished sets for further discounts and searching for coupon codes or cash back on sites like CouponCabin.

☆ With TV prices down 17%, Black Friday shoppers may find ‘excellent deals’
▼ + stars: | 2022-11-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Why TV prices are falling amid broader inflationAverage TV prices fell by almost 17% in October 2022 compared with the same month in 2021, according to the consumer price index. They're an outlier at a time when stubbornly high inflation led prices to climb steeply for a broad basket of consumer products. Manufacturers had cranked up production to historic highs to meet consumer demand — and retailers now have a glut of TVs, Kowalski said. Black Friday and Cyber Monday TV dealsRetailers have long used TV deals to draw in shoppers on Black Friday — the Friday after Thanksgiving and the traditional start to the holiday shopping season. watch nowSome Black Friday deals from retailers such as Best Buy have been jaw-dropping, especially for some well-known brands, said Julie Ramhold, consumer analyst with DealNews.

Consumer-savings expert Andrea Woroch says not every Black Friday or Cyber Monday deal is worth it. She warns against travel pacakge sales — wait until Travel Tuesday for the best deals. So as you start thinking about what you may want to buy during the November sales of Black Friday and Cyber Monday, heed the warnings of consumer-savings expert Andrea Woroch and avoid these five purchases this season. But Woroch says that to get those deals, wait just one more day after Cyber Monday ends. "The best travel deals happen on Travel Tuesday, which will happen on November 29," Woroch says.

☆ Build up an emergency fund ahead of a likely recession in 2023, personal finance experts say. Here's how much you should save, and how to get there.
▼ + stars: | 2022-10-29 | by ( Ryan Hogg | Junior Weekend Business Reporter | Read More | ) www.businessinsider.com time to read: +7 min

Personal finance experts urge building an emergency fund ahead of a likely recession in 2023. The key to bulletproofing your finances is having an emergency fund. What is an emergency fund? How big should my emergency fund be? The experts interviewed by Insider agreed that an emergency fund should cover between three and six months' worth of expenses — a consensus supported by Well Fargo.

☆ 7 things you’re wasting money on
▼ + stars: | 2022-04-27 | by ( Beth Braverman | ) edition.cnn.com time to read: +6 min

With inflation pushing the price of just about everything higher, it’s more important than ever to keep track of how you’re spending your money. Bank feesWhether you’re paying fees for withdrawing money from an out-of-network ATM or paying monthly service fees for simply having a checking account, small fees can add up to a significant amount of wasted money over time. The cost of monthly fees, if you’re unable to avoid them with your current bank, likely outweighs any interest you’re getting paid on that account. But spending money on something you don’t need just because it’s on sale can quickly lead to overspending. “These things get put on autopay, and then people don’t even realize that they’re paying for something that they don’t even use,” Ramhold adds.

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