— Admin @ 3:02 pm — 
December 25, 2009There are lots of ways to overspend or go into debt, and one of those ways is purchasing extended warranties on products. The extended warranty is exactly what it sounds like – a warranty that extends beyond the standard warranty period.
Consumers have been purchasing extended warranties in greater amounts this year. The Service Contract Industry Council reports a 10 percent increase in extended warranty purchases in 2009. So why are consumers spending money on warranty contracts when money is so tight?
One of the reasons is that more electronic products are being purchased and people don’t want to take the risk of incurring expensive repairs. Once you get an electronic or computer item set up, the repair may provide more value than just fixing a broken component. The repair might save data for example.
In other words, the complexity of technology has made extended warranties more appealing to consumers. Ret