The NFL’s ultra extravaganza, the Super Bowl, is this Sunday. The New England Patriots will face off against the Seattle Seahawks in a match that will surely generate controversy because of the much talked about deflate-gate.
It’s a day to stuff our faces with nachos and cheese, beer, barbecue and other fatty snacks. It’s also an annual tradition to spend money on stuff you can’t afford nor do you need. The biggest item to purchase for the Super Bowl isn’t just chicken, but a big screen television.
According to a Consumer Electronics Association study, about one-quarter of HDTV owners in the United States purchased their televisions for the primary purpose of watching the NFL game. This also means that at a time when the average American has thousands of dollars in debt, they’re buying televisions they can’t afford.
Consumers aren’t buying modest 24-inch televisions, either. They’re forking over between $500 and $1,500 for televisions that range from 50 to 65 inches. With horrific personal finance habits that many Americans have, this will be placed on the credit card and consumers will be paying 15 percent interest.
“The week leading up to the Super Bowl is second best time to buy, after Black Friday,” said Ben Arnold, television analyst at NPD Group, in an interview with CNN Money. “If you’re looking for a TV in the near term, this week gives you a pretty good shot at finding the best pricing for a while.”
When do Western consumers not buy a television? It seems as if there’s always an excuse to purchase a TV: Black Friday, Christmas, Boxing Day, Super Bowl, Blueberry Pancake Day, Weatherman’s Day, Backward Day and the list goes on.
Perhaps Groucho Marx said it best: “I find television very educational. Every time someone switches it on I go into another room and read a good book. “
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