With Black Friday right around the corner, I thought I’d help prepare you with a couple quick tips on how to get the most out of Black Friday and how to walk out of the store feeling confident in your purchases.
1) 40% off doesn’t mean much anymore. It’s fairly common knowledge that stores will often markup prices before Thanksgiving only to advertise them as “XX Percent off”. So despite saving a “ton” of money by purchasing the item, it may not be as good of a deal as you think.
2) Just because it’s a good deal doesn’t mean you need it. I don’t care how big of a discount it is, if it’s not in your budget, you probably shouldn’t buy it. Great deals will always be out there if you look a little. Stay focused on your budget and don’t let a little sale distract you.
3) Not everything is a good deal on Friday. Stores will often advertise ‘teaser’ sales in order to draw you in. They’ll super markdown a couple of TVs and a couple of laptops but only have a dozen or so in stock. These items will sell out quickly but get people like you in the store and while you’re there, you’ll probably buy other things that are “on sale” but not necessarily super marked down.
4) Black Friday isn’t always the best time to go shopping. A quick internet search will let you know that January or March is the best time to buy a TV, not Black Friday. Is Black Friday really the best time to buy clothing or is the following season a better time? Don’t have tunnel vision, step back and ask yourself if it’s really a good deal or not. Perhaps you could save up some money and buy it at a later date, when it is actually at a good price.
5) Use your head, not your heart. Retailers will pull out all the stops to get you to part with your hard earned cash starting this Friday. They are professionals at it and will gladly take your money. When faced with a purchasing dilemma, take a quick step back and think about it. Is it really a good deal? Do I actually need, or even want it? Can I afford it?
Happy holidays everyone! Enjoy Thanksgiving and Black Friday!
Other articles you might enjoy:
How to survive a crazy (financially) weekend
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Here is another good article:
http://www.marketwatch.com/story/10-retail-tricks-that-make-you-spend-more-2013-12-04?dist=afterbell
-David