Tag Archive for Black Friday

Black Friday Lies: 5 Ways it is Designed to Get You to Spend Not Save

Black Friday Lies: 5 Ways it is Designed to Get You to Spend Not Save

Black Friday Lies: 5 Ways it is Designed to Get You to Spend Not SaveEvery year the lure of Black Friday deals tempt and tease many people into parting ways with a good chunk of change.

In order to get the best prices some shoppers will start their spending as early as 3 a.m. Others camp out hours or even days ahead of time to get the best spot in line when the stores open.

Although those actions may seem extreme just to buy things on sale, crowds of people have been known to form, depending on what hot item is being sold at a discount.

But is Black Friday really a good time to save money?

Not really! Here are five Black Friday lies that trick you into spending instead of saving.

1. FOMO

FOMO, or fear of missing out, leads many people to exhibit some of the crazy behavior described above. It?s also one of the Black Friday lies that get you to spend not save on this unofficial shopping holiday.

For instance, discount stores may have offer only a dozen or so high dollar items, such as televisions, at a very low price. This gets many more people than that to come into the store and spend.

Those who miss out on a good deal rarely go home empty handed. They figure that since they got up so early and stood in line, they might as well do some other shopping to make the hassle worth it.

This is how stores suck us into spending more than we planned. We also go to the store to buy a certain thing and come home with something entirely different.

Even if you like to do your shopping on Amazon?they like to play on this FOMO emotion by suggesting other items to buy. Shopping on Amazon can be a good way to save money, just make sure not to give that up by buying stuff you don’t need.

2. Time Limits

Because there is a time limit on each item, such as ?Available for the first four hours only!?, it can make shoving people aside or even knocking them over ?ok? in order to get the deal. People will act irrationally all in the name of saving a little money.

In what world is this ok? Having the pressure of a time limit, along with limited quantities, and large crowds of people all competing for the same thing can cause us to not think things through before we buy.

To put it another way, we buy stuff we don?t need. This is the lie of a time limit and how it causes us to spend not save.

3. Competition

Another way Black Friday is designed to get you to spend is through competition. Again, competing with others for one of only 10 items and coming away with the win makes you feel good.

People like to stretch their dollars. It makes them feel good when they think they are saving money. Combining that with our need for competition, FOMO, and an expiration on the deal, and you can see why people go into a buying frenzy on Black Friday.

4. Sneak Peaks

Retailers are not helping us when it comes to Black Friday lies. It is in their interest not to. In fact, they build the hype and crazy behavior even more by showing us sneak peaks of the deals to come.

Weeks and even months in advance of Black Friday sales, merchants will send out emails and texts to customers announcing items they will have available for low prices on Black Friday. Of course, this is all done in the name of making more of the almighty dollar.

What it does to the consumer, however, is encourage us to spend not save. It adds to the bad behavior and overspending many people do on Black Friday.

5. Tradition

Many people enjoy the tradition of Black Friday shopping. But Black Friday is designed to get you to spend not save simply because of the tradition of it all.

It?s touted as the day you can save the most. This is a lie.

Most retailers set up their merchandise so a few select items of limited quantities are extremely marked down. But, they also have plenty of merchandise at regular prices for consumers to buy while they are there. This is especially true of things that are accessories for the big ticket items, like brackets to hang your new flat screen TV on the wall, or batteries to power to your new gadget. These accessories are almost always full price.

As Black Friday approaches, keep these lies in mind instead of getting caught up in the hype. Remember, the only real way to save money is to keep it in your savings account. Even if what you buy is on sale, you’re not actually saving that money. You’re spending it!

 

Have you gotten caught up in some of these Black Friday lies? What is your plan for Black Friday this year?

 

Photo courtesy of: m01229

5 Great Reasons Why You Should Stay Home on Black Friday

black friday

stay home on Black FridayBlack Friday ? the day after Thanksgiving ? has become incredibly popular for shoppers in recent years.

For many people, Black Friday has become a bigger holiday than Thanksgiving. People plan all year long to head out at midnight, or earlier, to look for deals at stores.

Recently, online retailers have gotten into the action as well. This means you can shop for Black Friday deals from the comfort of your couch.

Of course, as you probably already know, you should do your best to avoid the allure of Black Friday. If you would like to protect your budget and avoid wasting money, Black Friday is something that should largely be ignored. But just in case you need some extra encouragement to stay home on Black Friday this year, here are 5 great reasons to skip the fiasco.

Buying Things You Don?t Need

This is the biggest problem with a shopping day such as Black Friday ? you inevitably wind up buying things you don?t need. Sure, there might be great prices to be had, but do you actually need those items? Probably not. By staying away from the stores on Black Friday, you won?t even be tempted by what they have available.

Avoid the Crowds

Rarely is it fun to be crammed into a store with hundreds of other people all vying for the same few deals. If you stay home on Black Friday, you should be able to enjoy more time with your family and friends on the holiday weekend.

Every year there are stories of fights and other incidents breaking out on Black Friday. Stay home on Black Friday and steer clear of these situations for the safety of yourself and your family.

Plenty of Deals to Come

Do you think everything in the stores is going to go back to full price before?Christmas? Of course not. There will be plenty of great sales and deals to take advantage of between Black Friday and December 25th. Don?t force yourself to shop on this day which has been created by savvy marketing departments.

Don?t Waste Your Time Off

If you are like millions of other people across the country, you likely get Black Friday?off of work. Why would you want to waste the day shopping with countless other people at the mall? Stay away from the stores. Do something memorable that you wouldn?t be able to do if you were stuck in the office. We all have to work too much, so don?t waste the time that you get to spend away from your job.

It Isn?t in the Budget

Simply put, you probably haven?t budgeted for Black Friday spending. If this is true, stay home and keep your credit cards far away from the registers at your local stores. It only takes one or two trips out to quickly ruin weeks or even months of careful spending, therefore it is important that you resist the temptation to head out on Black Friday with everyone else. The stores and products aren?t going anywhere, so take your time and only make purchases when you are ready and have budgeted for them.

 

Do you plan to stay home on Black Friday? Why or why not.

 

Photo courtesy of: Andi_Graf

3 Reasons Why Black Friday Won?t Save You Money

Black Friday

stairs-906720_1280As a frugal person, you probably have become quite adept at looking for sales ? and there is certainly nothing wrong with that. There is no reason to pay full price when you could possibly shop around and find the same item on sale. Consistently shopping sales can save you money both in the short-term and over the long run. If you want to regularly stay within your budget on a monthly basis, you will find that sale shopping is a key part of the equation.

You might think, then, that the Black Friday sales that go on all over the country are a great opportunity to save some cash. Not so fast. Sure, you will see incredible prices posted for a number of quality goods, but those sales aren?t necessarily all that they are cracked up to be.

Here?are three reasons why you should think about steering clear of Black Friday.

Limited Supply

Usually, when you see a great price advertised for a product on Black Friday, there is a very limited number of items actually available at that price. So there might be a TV listed at $300, but there may only be five units offered at that price. Therefore, unless you get up very early ? or get very lucky ? you aren?t going to get that deal.

Missing out on the deal might not be the end of the world, but you may then feel compelled to buy something else because have gone through the trouble of getting up to go shopping on the day after Thanksgiving. By avoiding the scene altogether, you will eliminate the risk of making a bad shopping decision.

Things You Don?t need

What are the chances that the items that happen to be on sale on Black Friday are actually things you need? More likely, you will end up buying something that wasn?t in your plans simply because it is on sale.

Buying stuff you don?t need is one of the fastest ways to blow through your budget. Stick to only buying things that have a specific purpose, and leave everything else alone ? even if it is on sale.

The Holidays Are Expensive Enough

November and December are an expensive time of year, even if you keep all of your money in your wallet on Black Friday. Don?t add to the cost of the holiday season by purchasing items that could have waited until the New Year ? if you even needed to buy them at all.

The reality is that, thanks to online shopping, you can almost always find a good sale when you do really need to buy something. Your best bet from a budget perspective is to ignore the Black Friday marketing blitz and simply stick to the shopping plan that has served you well throughout the rest of the year. Not only will you have more money in your bank account?by ignoring Black Friday, you will also be able to sleep in!

 

Are you going to shop or sleep on Black Friday? Do you think Black Friday actually allows you to save money? Do you go shopping on Thanksgiving?

 

Photo courtesy of: jarmoluk

Things to Buy and Not to Buy on Black Friday

Black Friday

Black FridayA lot of people go shopping on Black Friday believing that they are going to get the best deals that they won?t see any other time of the year. While this is true on occasion it is most certainly no guarantee. There are times when buying an item on Black Friday isn?t a good idea. ?That is the case as you can often find those items for cheaper at other points of the year.

If you’re trying to decide whether or not to fight the masses the day after Thanksgiving, hopefully this list will help you narrow down things to avoid as well as some items to play closer attention to. I’ll give you a hint though…you’ll enjoy your day much more if you stay home. Not only will you be able to save money in the process, but also not stressed out fighting crowds to get your hands on a certain item.

What Not to Buy on Black Friday

Game Consoles That Don?t Come In Bundles

Video game systems are a popular Black Friday item. If you’re one of those wanting to score a deal, one thing that you don?t want to do is to buy a game console unless it comes with a bundle. It likely won?t be a good deal and you may be wasting your money, because chances are that you are going to find a deal later in the season that is the same price for a bundled deal.

International Airfare

Another item that you shouldn?t buy on the day after Thanksgiving is international airfare. If you want to buy airfare to go to Florida or California, you can often find deals both on the biggest shopping of the year and as Christmas comes closer – which is great if you’re wanting to spend some time in either of the sunny locales during colder parts of the winter.

But if you are looking for an international trip, it?s a good idea to book flights when the New Year starts. This is usually the best time to make international flight purchases. Even though it?s not a good idea to buy international airfare around Thanksgiving, it sometimes can change depending on the airline. So keep an eye out for the deals and see what is being offered.

Exercise Equipment

According to Fox Business, exercise equipment is not a good purchase on the day after Thanksgiving. The prices will be lower in December and January, so hold off on those weight machines for now. While you might be tempted to start working off that extra turkey and mashed potatoes now, you’ll save more money by waiting on this one.

Small Appliances

A lot of circulars have deals that are being offered on large appliances like washing machines and refrigerators. But while these could?be good deals, the better deals for small appliances will be prior to or following the big shopping day. An example would be vacuum cleaners that are usually less the week before Thanksgiving.

Flowers and chocolates

Most people would probably not think about buying flowers and chocolates because they?re not big items that are sold the day after Thanksgiving. The best time to buy flowers and chocolates will be around Christmas and of course Valentine?s Day.

Now that we have discussed the things that you shouldn?t buy on the day after Thanksgiving, let?s look at the things you should buy and that are going to save you money.

 

Good Purchases on Black Friday

Tablets

Tablets are a popular Black Friday item and for good reason. A lot of tablets are going to be discounted, especially if newer models are being rolled out. The reason for this is because there is so many different tablets, which means that there is a lot of competition for the name brands.

If you aren?t interested in buying something brand new and you are looking for something a bit less expensive, there are also used or refurbished models which are even less than the newer models. They work just as well and often come with a warranty.

Movies and Video Games

Movies and video games are often deeply discounted on the biggest shopping day of the year. Sometimes Blu-rays can be found for only several dollars and a lot of box sets of television shows can also be rather inexpensive. If someone has a video game system or they are getting one for Christmas, this is also a great time to purchase games for the system. Movies and games make great items to put into stockings.

If you are looking for Black Friday deals, keep these things in mind. You also can go to websites like BFAds to find out what the good prices are going to be on Black Friday. These sites give you the information about the big deals this year and they?ll give you the heads up on the big ticket items that are going to be sold. They give you the information that can help you with saving money.

 

 

Photo courtesy of: Jason McHuff