Earlier this week we had a guest post published at PTMoney.com about how to prepare for the madness of Black Friday. If you haven’t yet read the article, please check it out here! We’ll paste the first part of the article below to whet your appetite:
Ah, the holidays.
Time to enjoy the company of family, sip a little cider, cook amazing meals, and…spend more money than you can possibly imagine!
Lately it’s starting to seem like the imperative of spending money has overtaken all the rest of the things we like about the holidays. It’s barely mid-November, yet the retail industry has already pumped the seasonal sales machine into full gear, with the climax being Black Friday, the day after Thanksgiving.
We’re conditioned to think about that day (which falls on November 25th this year) as a day for shopping and buying. But in reality, it doesn’t have to be. And if you’re trying to get out of debt or build your savings account, it shouldn’t be.
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So here are 5 tips (and actions) you can use to make sure Black Friday doesn’t put you in a financial black hole:
1. Unnecessary Purchases are Always a Bad Deal — No Matter the Price
People get excited about Black Friday because they imagine sleek, brand new laptops and flat screen TVs being sold for a fraction of their usual price. But no matter how great the deal may seem for that new gadget or toy, buying it will NOT save you money unless it’s something you absolutely need.
Often, we justify purchases at this time of year by telling ourselves that “this state-of-the-art blender will make a great gift for Uncle Jim, and it’s 50% off!” Nevermind that it still costs $89 and that Uncle Jim has a perfectly good blender already. In other words, the deal justifies the purchase. But not for you. Not this year.
Action: If you feel the need to visit stores on Black Friday, write down a list of things you need before you even leave the house! And only include expensive items like a laptop, TV, or refrigerator if you don’t already have one or if the one you have is broken.
To see the whole article, click here!