Teresa Ghilarducci, Columnist

Online Shopping the Pandemic Away? There's a Better Way

Instead of buying new stuff, buy a better financial cushion for yourself.

October 16, 2020 at 1:00 PM UTC

Teresa Ghilarducci is the Schwartz Professor of Economics at the New School for Social Research. She's the co-author of "Rescuing Retirement" and a member of the board of directors of the Economic Policy Institute.

Chances are you don’t really need new shoes right now.
Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images

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You probably want to buy something.

For many households, there is more money at the end of the month. Spending is way down on restaurant meals and entertainment. Excess income over spending is about 14% — up from a 25-year average of 7-8%.