Internet might not necessarily help you save dollars

Washington: A new survey has revealed that Internet may not save the extra dollar inspite of providing a fast and easy way of comparing products and purchasing them revealed a new survey.The survey conducted for MoneyRates.com by Op4G suggests Internet may actually be a mixed blessing for consumers who want to save money this holiday season.

23 percent do their holiday shopping primarily online,31 percent in person, 46 percent split holiday shopping evenly between the Internet and in-person shopping according to the poll survey done on 2,000 US adults revealed Fox News.

The survey revealed that 50 % of respondents said that they were more likely to buy something on impulse when they shop in person, compared to 17 % who said they are more likely to make an impulse purchase online.

Survey found people who shop primarily online spend an average of 487.04 dollars this holiday season, compared with the average of 436.53 dollars that people who shop primarily in person expect to spend. According to the findings, online shoppers spend more time buying, an average of 5.84 hours, than traditional shoppers, average 5.24 hours, who shop in person.

It was also found that savings accounts at online banks pay roughly three times the average interest rate of savings accounts at branch-based institutions, the report added.