On Tuesday, Financial guru Deborah Owens, joined Roland Martin on “NewsOne Now” to show you how not to go broke this holiday season.
Owens told Martin, “Retailers make 50% of their profits in literally six weeks and they know how to incent you” into buying more than what you intended. Ovens expressed her desire to inform the listening audience of what the traps are.
She also highlighted the “12 months interest free financing” as another holiday hoax to get you to spend lots of money. Owens told Martin, “If you don’t pay all of that amount up when that 12 month term is over … they’re going to smack you with all the interest that you would have paid had you not paid that 0% down.” Owens added that these interest rates can be “onerous” and can range between 21% and 23%.
Listen to Martin and Owens’ entire conversation about holiday shopping hoaxes that entice you to spend all of your money and don’t miss how Roland saves his money during the holiday season.