Shopping heading inside Coastal Grand Mall.
/ Lisa Edge
MYRTLE BEACH, S.C. - With just two more shopping days left until Christmas, hundreds hit the mall Thursday night looking for last minute deals. Retailers hope consumers will deck the halls with items from their stores.
Conway native Michelle Miller is in town from Tampa, Florida. Now that she's got free time, Miller spent Thursday evening buying gifts. "Just been really busy, hadn't had time to really get out, and now that I'm here I'm able to get out by myself and get some things done."
It's a similar story for Renee Andrews. She was out with her four daughters. Andrews is conscious of how much she spends, especially in this economy. "Gas is coming down a little bit, but food is going up. Everything is going up. Everything has to be on a budget," she explains.
The American Consumer Credit Council estimated the average American spends nearly $1,000 on Christmas each year. While some use a credit card now and worry about the bill later, some shoppers still think cash is a better option.
"We do a little bit with credit and cash too. We try to do more with cash," says Jennifer Weaver.
"If you don't have the money to pay for it you probably don't need to get it cause you're going to be stuck later with the bill," adds Miller.
The National Retail Federation estimates holiday sales will be up 3.8% compared to last year. That's good news for stores, but how consumers choose to pay for it could spell disaster later.
"Especially in this economy, a lot of people don't even qualify for credit, and if they do, it's just going to put them further in the hole. So it makes more sense to pay with cash," says Andrews.
If you choose to use a credit card for Christmas gifts, experts suggest paying off the balance in full when you get your bill, so you don't have to pay interest on what you've bought.
