Recovering from the blow of Cyber Monday

Recovering from the blow of Cyber Monday

Tyler (KYTX) -- Sales from Cyber Monday hit record levels this year--which means it hit our wallets pretty hard too. CBS19's Jaime Gerik sought out expert advice on money-saving strategies, as you find your budget a little leaner than before.

"I was ready all year long. I love Cyber Monday," Lynn Henderson, of Overton, said.

Between Black Friday and Cyber Monday, Henderson covered all her bases. And she says she scored.

"I went online and I bought Leap Pads for $89, which is very good," Henderson said. 

Between all the deals, Lynn guesses she saved about $400 off regular sticker prices, but all that shopping left a dent in her budget, and now she's reining in spending.

"I won't go out to eat. The kids won't go out to eat, we're cooking at the house," Henderson said.

She's part of the bunch that spent $1.75 billion dollars on Cyber Monday, according to research firm Com-Score. That's almost 20 percent up from last year.

"Just about everybody spends more than they plan to on Cyber Monday," Harold Doty, Assistant Vice President of Strategic Initiatives at UT Tyler, said.

Financial experts have advice for those who are wondering how to recover.

"Take your credit cards out of your purse or wallet and put them in your sock drawer and leave them there. You have to stop using them," Doty said.

And if you don't want to trim the list of people you're buying for at Christmas, then be more modest with the gifts you give.

"It's not a competitive, it's not a sport. Giving is an expression of love and an expression of friendship and when we exchange gifts we need to remember that's what we are doing. We are not trying to be Santa Claus," Doty said.

It might take you a month or two to get back on track, but he says that's normal and if you think you don't need something, you probably don't.


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