Why we like when Daylight Savings Time ends in Fall
Daylight Savings time is a practice of moving the clock by an hour each Spring and resetting it to fall back an hour each Fall. While I celebrate this time each year as I enjoy an hour of sleep, I recently found out another cold, hard reason to like this ritual – savings for our wallets. What does falling back an hour have to do with our wallets? A recent study from JPMorgan Chase Institute reported a drop in spending by as much as 2.2% - 4.9%, depending on where you live.
While the study was conducted in Los Angeles, CA, researchers found that card spending in Los Angeles experienced a relative increase of 0.9 percent in the 30 days following the start of DST (Spring), and experienced a relative decline of 3.5 percent in the 30 days following the end of DST (Fall). Pretty cool hitting a snooze on spending huh?