The Inside Scoop on Black Friday
Black Friday is the annual opportunity to snare a bargain either online or in-store. Retailers of
all kinds offer once-a-year discounts to shoppers just after Thanksgiving.
Although it seems like a great way to save money, consumers should approach the Black
Friday period with some caution – and a clear strategy. This can avoid headaches and stress
when your next credit card bill arrives, and that stack of ‘bargain’ purchases can quickly look
a lot less attractive!
This article gives some practical tips for going into Black Friday with a plan to come out with
things you actually need instead of things you thought you needed but, in truth, could live
without.
Making – And Sticking To a Plan
The best way to save money is to buy what you need, not which items are advertised as the
best price. Once you have decided on this, you can turn your attention to finding the best
prices on those shortlisted items.
While all the deals will be available for weeks and are designed to tempt, take your time.
Making considered choices is all about evaluating what you want, not how much you can
apparently save on an item.
Think of it this way – if an item is $200 and reduced to $100, but you do not really need it,
then you have not saved $100 – you have spent that money on something you didn’t truly
need.
Your plan starts with making a list. Put simply, stick to your list, and only make an exception
if you see a phenomenal bargain, you know you will regret it if you do not buy. But when you
do this, consider that most impulse purchases work the other way around, and that you end
up regretting the purchase, not what you supposedly missed out on.
Beware of time-limited offers
The entire goal of time-limited offers is to get people to make impulse purchases. So be
especially wary before you get lulled into making one.
If you can, sleep on a decision before you make a purchase. Better still, wait at least two
days before ordering to see if you actually still feel the same way about the item. If not –
avoid it!
Do a little homework
Another thing to check out on Black Friday is whether the offer is actually genuine. Just because a label tells you it is a once-in-a-lifetime offer, you do not have to believe it.
Check that prices have not been hiked in the build-up to Black Friday and that the so-called
discount is either the old selling price or only a very small decrease.
Also, ask the fundamental question – why is the item discounted at all? How good is it? Is it
really useful? After all, if the discount is legitimate, there is likely to be a reason the retailers
are trying to clear stocks of it this close to Christmas!
The good part of Black Friday
Black Friday can be a good thing for consumers. You just have to be a little pragmatic, be
sensible, and go in with a plan in order to get the real bargains!
