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But how do you know what to look out for when shopping?
By learning how to spot these red flags, you could make smarter financial decisions and avoid overspending.
Here are fourfinancial red flags to be aware of in holiday sales and promotions.
Holiday sales can be full of surprises, said Fameez Haroon, shopping expert and co-founder ofOTAA.
Not every discount signs are good, in fact, some of them should be ignored.
Haroon recommends comparing the sale price across other stores or using online price trackers.
Bait-and-Switch
Another common tactic is the bait-and-switch.
Often, what remains is either a low-quality option or amore expensive alternative.
While its not illegal, its considered a form of psychological manipulation.
While shopping, Haroon recommends making rough estimates to determine whether the purchase is ultimately worth it.
Another way to avoid spending more money is to make a list and stick to it.
Limited Offers
Countdown times or phrases like Only five left!
are used to create a sense of urgency while shopping online.
It really helps to have a shopping list set out in advance to avoid hauls based on nonexistent urgency.
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