How much will you spend on Black Friday?

Shoppers are getting ready to spend, spend, spend this Black Friday. And according to the research you are probably going to spend over $500 today alone. Economist Hank Lewis at Lone Star College tells KTRH this would be welcome news for retailers.

“Retailers had been dealing with lackluster sales thanks to the recession. But now we are starting to see some strength,” Lewis explained.

The study also shows that throughout your lifetime you'll spend a hundred grand on the holidays, but Lewis says there is one constant. We are always on the hunt for bargains.

“My dad always taught me the difference between being frugal and being cheap,” Lewis said. “Being frugal means you don’t spend money when you don’t have to. Being cheap means you don’t spend money when you really should.”

And we will also do crazy things to get those bargains. One in five say they'd eat oatmeal for two weeks straight if they could get 50% off a new flat screen TV.

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