As you head out to the stores this holiday weekend, be careful not to make impulse purchases. Three in four Americans admit they have made an impulse purchase, according to a report released on Nov. 24 by CreditCards.com.

Black Friday shoppers
Joshua Lott, Getty Images
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An impulse purchase is defined as any unplanned or unnecessary decision to buy an item just before the purchase.

Of the 75 percent who said they had made an impulse buy, 16 percent said they spent $500 or more on the purchase and 10 percent spent $1,000 or more.

Young people are more likely than older ones to give in to impulse buys. Nearly 90 percent of millennials said they had made an impulse purchase, compared to 56 percent of seniors.

Men and women both make impulse purchases, but men are three times more likely than women to do so while intoxicated. When women are feeling sad, they are twice as likely as men to make impulse buys.

"Men are also three times more likely than women to have spent $1,000 or more on an impulse buy.  When you're talking about purchases like that, that can really have an impact on a person's budget," said Matt Schulz, senior analyst at CreditCards.com.

In addition to feeling sad, other common emotions at the time of an impulse purchase include: excited (49 percent), bored (30 percent) and angry (9 percent).

Despite the impact impulse purchases can have on a person's wallet, not every consumer feels guilty about making them. The survey revealed that exactly half of those who made impulse purchases couldn't think of a single splurge they regretted.

Some other key findings in the report include:

  • College graduates were more likely to make impulse purchases than non-college graduates. And suburban residents were more likely than urban or rural residents.
  • Nearly one in three Americans had spent $100 or more on an impulse purchase, but men were the biggest spenders.
  • Republicans were more likely than Democrats to say they regretted an impulse purchase, and women were more likely than men.

"While make small impulse purchases every so often is not a big deal and can be fun and bring on an adrenaline rush, but when you do it too much, it can really take a toll on your budget, so you really have to be careful," Schulz said.

 

 

 

 

 

 

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