Spaving, or spending to save, refers to the practice of purchasing more items to take advantage of discounts, which can lead to increased spending and debt. Carrie Joy Grimes, CEO of WorkMoney, warns that this behavior is a marketing tactic that can hurt consumers financially. Examples include buying extra items for free shipping or bulk purchases when not needed. The concept is prevalent on TikTok, where users share experiences of feeling like they've saved money but ended up spending more than intended. Grimes argues that this trend blurs lines between saving and spending.
Spaving often increases unplanned spending and credit card debt. At its worst, it can also be financial self-sabotage masquerading as smart shopping.
Many sites encourage you to 'spend $25 more' to get free shipping, when shipping itself only costs $8.99.
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