5 Mistakes Your Making On Black Friday | Save Some Money!
SALES ARE DESIGNED TO TAKE YOUR MONEY!
All know Black Friday is rapidly approaching. This is one of, if not the most anticipated day of the year as thousands of people hit their favorite retail stores in an attempt to get some products at fantastic deals. With those deals also comes the reality that you are still spending money, LOTS OF IT! So let's chat about a few ways in which we might be able to save a some of our dollars and not go broke.
1. DEALS ARE ON OLDER PRODUCTS, RARELY NEW ONES
I mean sure, that TV that Best Buy is offering for $300 off seems like a win, but their flagship model with all of the new features isn't even on sale for Black Friday. Stores often put their old models on sale and market them as the "newest" or "best" in an attempt to get those products out the door in order to make room for that new inventory. Don't believe me? Take a look at any of your favorite stores ads and check an item that's on sale like a TV. Take the model number and research to see when the TV actually came out and what has been released since then. You will be shocked to find that sometimes you are buying products that are over 2 years old! Now if you still have a TV with a butt on the back then by all means grab that deal!
2. RESIST TEMPTATION ON THE FIRST SALE YOU SEE
Black Friday is merely a competition to all of these top brands. Their goal is to entice you to visit their store and spend your hard earned cash with them. That is why these stores will often have the same products on sale, but at different sale prices. For example, Best Buy is offering the Apple Watch Series 3 starting at $189 plus Free Apple Music for 3 months while Amazon is offering the same Apple Watch Series 3 for $169.99. Taking the time to do some brief research could ultimately end up saving you over hundreds of dollars if you are an active Black Friday shopper. Price check these items!
3. NO BUDGET/LIST
Want to know what I hear people say often? "I'm just going to go to the stores and see what they have, but I doubt I buy anything." NO! NO! NO! This may work if your broke like me or a frugal person, but if you are a shopaholic, you will most definitely end up buying not one, but several different products. These will range from products you may actually need to things you simply bought because it was on sale. Have some sort of plan. Write down items you are actually searching for that is a need. Plan a complete budget for your shopping and don't go a penny over that amount. There is still life after Black Friday so don't spend all your rent money because you decided to just "go see what they have."
4. FORGETTING THAT CYBER MONDAY ALSO EXISTS
In today's world it actually shocks me that people still forget that Cyber Monday is a thing. In case you one of those people, Cyber Monday is pretty much an extended Black Friday sales event except it's online. Now that stores are attempting to get more sales by also listing their items online days in advance of Black Friday it kind of takes away Cyber Monday in a sense, but sometimes you are still able to find better or new deals during this event. Retail stores typically list their sales items at different times of the day so be on the lookout!
5. WATCH OUT FOR THOSE CREDIT CARDS!
Credit cards can either be lovely or dreadful depending on who's hands it is in. Be very careful of that credit card spending during Black Friday & Cyber Monday. Since you are not actively spending money in your hand, your brain does not get triggered that money is actually leaving your account versus if you actually had a $100 bill in your hand. Since that pain sensor does not trigger, it is very easy to spend hundreds or thousands of dollars on products before you even realize that you have to pay all of this money back. Financial debt is a huge crisis in America and don't let these products that you probably don't even need cause you to go in to debt, or worst, go further into debt. If at all possible, leave the credit cards at home and use that money that you budgeted for your spending. Once it is gone you know it is time to go home.
Check out my YouTube video on this same topic here. Don't forget to like and subscribe!
Spend wisely, spend safely, and have fun!