'Spaving,' or spending more to save more, can lead to excessive spending and high-interest credit card debt if you aren't careful, experts say.
But it can also lead to excessive spending and high-interest credit card debt if you aren't careful, experts say.
The opportunities for so-called "spaving" are nearly everywhere, whether it's the lure of a "limited-time deal" or "buy one, get one free" or tacking on additional items to get a bigger discount or simply to reach the 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.," which breaks down the price of an item by the cost per wear to justify big-ticket purchases, spaving encompasses all the ways buying decisions are rationalized.
″'Spaving is us justifying our desire to buy more," said Brad Klontz, a Boulder, Colorado-based psychologist and certified financial planner."Teams of scientists have figured out how to extract more money out of you," said Klontz, who is also managing principal of YMW Advisors and a member of CNBC's"We are just constantly spending more than we can afford and then we experience stress related to our financial health," Klontz said.
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