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GTE Financial & Hyde Park Accountants Talk With ABC Action News About Online Spending 7/12/17

TAMPA, Fla. - Almost 50 percent of Americans say they overspend online. The digital addiction carried over to the just-finished Amazon Prime Day, where U.S. shoppers were expected to spend an estimated $1.6 billion.

Shopping online is easy, casual, immediate and convenient. All reasons why digital marketplaces are driving a stake through the heart of malls and brick-and-mortar stores. But with the allure comes the problem: It maybe be a little too fun.

Money experts Christel Ventura at GTE Financial, and Gerry Valdes and Kathi Killebrew of Hyde Park Accountants are helping overspenders calm the online urge a bit. Here are some of their recommendations:

  1. KNOW YOUR PRICES: Do your research. Do not just click and buy because you may think a price looks low but in reality it is not. Slow your roll and shop around.
  2. DON’T STORE YOUR CREDIT CARD ONLINE: Urges to impulse buy can be dulled if you need to dig around in your wallet to find your credit or debit card and type in the number. If you store your number in a company’s system, it is way too easy just to click a button and buy.
  3. NEED VS. NICE: Do you really need it? Or is it just nice and pretty and unnecessary?
  4. FIND YOUR HAPPY ELSEWHERE: If shopping online gives you a buzz of good feeling you may be emotional overspending. Shopping can be a rush. Before you make your next purchase, do something else that makes you happy. Go ride a bike, read a book or binge-watch Game of Thrones. Just avoid making that purchase right away.

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