Daylight Savings Time Costs You Extra

Daylight Savings Time Costs You Extra

| March 08, 2020

Daylight Savings Time Costs You Extra 

It’s that time of year again - moving our clocks an hour ahead.

The issue of whether daylight saving time should be abolished is a topic that comes up regularly. Daylight savings time is intended to give you more access to daylight hours, which means reducing energy costs and promoting healthy outdoor activities, and for nearly a century countries around the world have moved their clocks forward in the Spring and backward in the Fall.

Daylight spending time?

A 2016 study by JPMorgan Chase & Co. compared the onset of daylight saving time in Los Angeles, a city that observes it, to Phoenix, one that does not. 

Relative to Phoenix, Los Angeles daily credit and debit card spending rose at the beginning of daylight savings and dropped at the end of daylight savings in the fall.

Overall, the report concluded that autumn spending reductions outweighed elevated spring spending. When presented with an extra hour of light, people tend to be spending more.

Go out and enjoy the extra hour of sunshine. But leave the credit card at home.