The holiday season is full of pitfalls that can drain your bank account. If you’re not careful, you can end up taking a year to pay for all the spending. More than 13 million shoppers are still paying off last year’s holiday debts, according to Consumer Reports. A few money mistakes to avoid:
Discount fixation
Retailers advertise deep discounts to get you to bite. But don’t take them at their word without comparing prices. A store’s sale price may reflect a markdown from the regular price, but there’s no guarantee the manufacturer’s suggested retail price isn’t actually lower.
Extended warranties
Here’s when to buy an extended warranty, says Greg Daugherty, executive editor of Consumer Reports: “Basically never.” The manufacturer’s warranty should protect you against any defect for up to a year, and the cost of protection beyond that generally isn’t worth it. Dave Carpenter, The Associated Press; AP photo
