What Is Spaving And How It’s Hurting Americans

Spaving - or spending more to save more - is a long-time tactic used by retailers to get consumers to spend on things they don't necessarily need, usually on impulse. As inflation persists and prices remain high, enticing deals and offers are attractive to cash-strapped consumers, but the financial pitfall could seriously affect people's wallets and credit scores if not managed well. Chapters: 0:00 Introduction 0:58 Chapter 1. A spending trap 2:57 Chapter 2. Spaving on the rise 6:29 Chapter 3. Stopping the habit Produced and Shot by: Natalie Rice Edited by: Evan Lee Miller Animation: Jason Reginato, Christina Locopo Senior Managing Producer: Tala Hadavi Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC What Is Spaving And How It’s Hurting Americans