by Tonya Foster
Didn't get what you want for Christmas? Passed up on buying that item that was a little too expensive to by someone else something? Then you may be susceptible to rebound shopping.
We may have heard the term rebound as it relates to basketball. It is when one player shoots the ball and misses a shot, then another player catches the ball as it comes off the rim before any of the other players has a chance to grab it.
Perhaps we may be more familiar with rebound relationships. This is where an individual is in a very meaniful relationship then that relationship ends then another person hops quickly back into another relationship without properly healing emotionally.
In both of the previously mentioned scenarios the latter happens quickly usually without much thought. This happens everyday to consumers, especially the week after Christmas. According to retail industry of http://www.about.com 43% percent of people planned to make a purchase on December 26th and 47% of U.S. consumers said they would be doing more shopping in the week between Christmas and New Year's.
The danger is that this behavior can cause consumers to go even deeper into debt than what they already did before Christmas. This is further complicated by after Christmas sales offered by retailers with promises of never before seen savings. Coupled with "holiday euphoria" this further complicates budgeting and planning for the upcoming year, often resulting in this continuous cycle year after year.
Plan to make a budget to avoid repeating the same steps this upcoming year, also check with your bank to see if they offer Christmas Club savings accounts. These accounts allow you to save a set amount each month to reach a predetermined year end goal. Whatever you decide make sure you take time to think about the consequences of your purchases both immediate and future.
