I am sitting with my mom who seems to be channeling her inner comic today. Having just said to me, “Why in the hell would I sleep outside all night to run into a store and give someone else my hard earned money? What the hell is wrong with these people?” Yes, my mom says hell a lot. But, after I stopped laughing, I agreed that she had a point. I actually happen to like Black Friday. But, maybe I wouldn’t be writing a blog about finances if I hadn’t liked Black Friday so much. Hmm. That being said, I have some thoughts that I would like to share with you.
1.) Black Friday is like a game of chicken-did you blink? All I know is that the sales get BETTER closer to Christmas. This has never changed. The retailers entice us with “good deals” on Black Friday but the discounts are always better in a couple of weeks. If you miss the specific item you were hoping to buy is that really a tragedy? Do you have a back up plan in case you’re unable to find a certain gift?
2.) Check online coupons and any coupons that you may have received in the mail. Before I stopped shopping so much at: Bath and Body works, Express, etc. I would give my email to the sales associate every time they requested it. Luckily, this is paying off for me now because I still receive coupons. Currently, I have coupons for: Victoria’s Secrets, Express, and L’Occitane. I am trying to maximize my spending in those stores with my coupons. Also, I work for a university so I get a 10% discount at the Limited. Make sure to bring your school i.d. when you go shopping. Ask about educator’s discounts. Also, if you earn virtual dollars at a store be strategic about how you will spend them. What are virtual dollars? Basically, for every $50 you spend you may earn $25 in virtual dollars to be spent at another time. Not all stores offer this but for the ones that do, this can become a very strategic way to shop.
3.) If you’re in debt should you feel guilty about shopping? No, as long as you use your common sense. If you charge your purchases, don’t have a list or a plan of attack,and pay full price for anything-then you should feel some guilt and maybe a little stupid because you have added to the hole that you’re in.
4.) Take cash. Leave your credit (and debit) cards at home. Have a budget that allows you to continue moving towards your goals of financial stability. This is huge!
5.) Walk the mall once and put things on hold. Most stores have a 24 hour hold or till the end of the business day. This gives you time to forget about the item, find something, or just eliminate impulse shopping by taking away the sense of urgency when making your purchases
6.) Have fun. Enjoy this time with your friends and family. Don’t go if you’re feeling rushed. Take a break and linger over a meal. The ultimate goal is to enjoy the day. If you’re not enjoying it, starting to spend too much, feeling stressed. GO HOME.
7.) DON’T go shopping. Stay home and save your money. This one is pretty obvious 🙂
Obviously this post is for those people who haven’t started their holiday shopping. For those of you who have, what is your process? Do you start right after Christmas and purchase deeply discounted items? I wish you a financially stable and fun Thanksgiving Weekend!
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