Black Friday: The Good, The Bad And The Unaffordable

By Litha Maqungo
11/25/2020 | 3 min read

A few years ago Black Friday was a one day event of crazy sales with steep discounts, but times have changed and now we have pre-event sales, a whole weekend of deals and then to top it off Cyber Monday. Even though we are in the midst of a pandemic retailers are aware and have made the necessary adjustments meaning online sales will be the norm rather than the exception.

Retailers are known to take full advantage of the fact that consumers are primed to spend during this time, so having a plan can help you prevent from accidentally overspending. With a palpable hype around crazy marked down prices, this Black Friday may just be the perfect opportunity to get ahead on Christmas shopping and buy the right items for your needs and budget.

It is easy to be enticed by the attractively low sale prices on Black Friday. But if you aren’t savvy you may end up overspending while trying to take advantage of the exciting deals on offer. To avoid unnecessary buying, that may even result in debt, plan your budget and the items you’re looking to purchase. Your budget can be handwritten or laid out in a spreadsheet. Start by determining a budget for your shopping – you need to be clear from the get go how much you are allowing yourself to part with.

Your next step should be making a list of items that you would love to get a significant discount on. Have a clear strategy. Are you buying clothing? Gifts? Home wear? Essential items? Then make a list of the retailers that stock the items you’re looking to buy. Some items may be available from more than one store and you might want to compare before making a purchase. Decide in what order you will be purchasing the items on your list. Some goods may sell out quicker due to higher demand, so be prepared for this. You may also want to consider that your online shopping orders can come with sneaky shipping fees. This could vary as some stores may offer free shipping depending on your expenditure (don’t aim to hit the threshold advertised just to take advantage of the shipping).

When it comes to managing your finances, having a plan is always the best approach. It is easy to lose sight of what you’re looking for in Black Friday sales and it is easy to find yourself spending money unnecessarily. This is one shopping event where instead of spending too much, you can save on items you would have bought anyway over the festive season.

By Litha MaqungoTags:
  • Budgeting
  • Discipline
  • finances
  • getup hacks
  • Managing your Money
  • Personal Finances

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