How people are spending on Black Friday

Black Friday is in full swing and people are hitting the stores looking for those deals — but it can still get expensive, and on average, people will spend $1,000.

One couple in Colorado Springs said they have already spent $500 and another woman said she was already $200 deep.

But who has that much cash available? The simple answer is not that many. Most of the people we spoke to put all of their expenses on credit cards.

About 3 in 10 shoppers are still carrying debt from last year, according to a survey by NerdWallet.
And that’s exactly why shopper Jamie Butler says she is paying in cash.

“We budget our money better when we do it that way,” Butler said.

According to that same survey, U.S. consumers are expected to spend $1 trillion from November until December. That means those credit cards could rack up quite some debt.

“That’s the rule in our family. If you charge it, you better pay it,” Montgomery said.

It’s a good rule to live by to make sure you have enough money for next year’s festivities.