608 Mabry Hood Road, Suite 202 | Knoxville, Tennessee 37932
Impulsive spending habits may leave many in search of debt relief
Many companies deploy marketing strategies that are designed to entice consumers in Tennessee to make spontaneous purchases. While adding that last minute item to the shopping cart may seem harmless, impulse purchases can add up over time. Individuals who are prone to making sudden purchases might benefit from seeking out ways to cut down on unnecessary expenses, as similar spending habits have left many in search of debt relief.
Whether in the form of a limited time sale, or an item conveniently placed near a checkout counter, many individuals have left a store or finalized an online purchase with items they didn’t originally plan to buy. Recent reports suggest that the average person spends as much as $5,400 annually on impulse purchases. These reports also suggest that many of these purchases go toward items that might not be essential to life.
Some of the most common items bought on impulse include food and clothing. While these items may seem essential, in many cases, consumers only buy them because they are on sale or catch their eye as they wait in the checkout line. Studies also indicate that many spontaneous purchases are placed on credit cards, and with the average person carrying a balance of nearly $6,400 on similar accounts, unnecessary purchases may do little to help one’s financial situation.
Overspending is a major concern for many, and those who face substantial financial troubles may wish to know more about the available options for debt relief. With numerous options available, choosing a path for relief can be intimidating. Individuals who wish to obtain assistance in forming a strategy to protect their finances could find it helpful to speak with a bankruptcy attorney in Tennessee for guidance in navigating the process.
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608 Mabry Hood Road, Suite 202
Knoxville, Tennessee 37932
William E. Maddox, Jr. LLC, Attorney at Law is located in Knoxville, TN and serves clients in and around Knoxville, Oak Ridge, Louisville and Anderson County.
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