Black Friday is approaching, and we all know what that means- massive sales, discounts, and shoppers running amok trying to take advantage of all the money saving opportunities available during that one insane Black Friday weekend.
3 Reasons Why Black Friday is So Insane
Why do normally sane individuals seem to lose their minds the weekend after Thanksgiving? I think there are a few reasons why:
- Black Friday Is Very Focused- Most people only have a few days off for Thanksgiving, and many want to do all of their Holiday shopping in the few days they have available. That means a lot of shopping in a short amount of time.
- Black Friday Marketing Is Over The Top Effective- It’s the one time of year that marketers are able to create a mass mindset in shoppers that makes them think “I gotta have it NOW!”
- Black Friday Is An Excuse For People To Do Things They Normally Wouldn’t Do- From shopping with the girlfriends all night long to spending large amounts of money in a short amount of time, it’s something exciting that you only get to do once a year.
Think Before You Shop
But there are also aspects of Black Friday shopping that are not so good.
Too many people don’t think it through. It’s much too easy to get caught up in the emotional mass consciousness of the day, with the result being that you spend too much, get further into debt, and maybe even generally act like a fool.
Yes, I know not everybody acts crazy, but way too many actually do. I’m sure you’ve seen them.
5 Ways to Prevent Black Friday Craziness
So I wanted to do my part to help prevent the craziness this year by giving you 5 tips to manage your Black Friday Christmas spending so you don't regret it later:
- Set a Hard Limit on your spending. Figure out a set amount you want to spend and stick with it no matter what.
- Use Cash! Once you’ve set your limit, use cash only to make Black Friday purchases. This ensures that you don’t spend more than you have, keeping you from getting caught up in the emotion and losing control.
- Leave The Cards At Home. Using credit cards to finance spending on Black Friday is way too easy. Leave them at home and you won’t be tempted to swipe with abandon during the frenzy and spend more than you should.
- Use a List. Pretty obvious advice, I know. Most people use a list for their Black Friday shopping, but the trick is to stick to your list while all the deals are in your face, just begging for you to take advantage of them.
Download my Free Printable Black Friday Shopping List Here to stay organized!
- Keep Your Emotions In Check. The #1 technique marketers use to get you to buy is to get your emotions involved. I think this effect is multiplied by 10 on Black Friday. Don’t give in to the emotions of the day. Keep your head about you, think rationally, and use the other 4 tips above.
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Black Friday Deals Are Not Always The Best Deals
There are plenty of good deals to be had the day after Thanksgiving, but studies have shown that the best deals are available before and after Black Friday.
So if you enjoy getting into the crowds and mixing it up with all the bargain seekers, more power to you!
Just remember to use these 5 Black Friday tips to keep from going overboard and creating a financial hangover later.
More Strategies
By the way, if you want more strategies on how to get better at handling your money and get out of debt, my Celebrating Financial Freedom online get out of debt course may be right up your alley.
If you're interested, you can sign up here for a free mini course that will give you some basic strategies now while giving you a taste of what the full course is all about .
Question: Have you ever overspent or done something crazy on Black Friday? Leave a comment and tell me about it.
Resources:
Living Paycheck To Paycheck? How You Can Get Ahead
6 Tips To Manage Your Money Better
How to Get Out of Debt (Part 2)- Make a Budget
If I might add, don’t do Black Friday at all. It’s an awesome day to stay home and get some work done or take your family to the park.
Right you are sir!
Leaving the cards at home, brilliant advice. That way the shopping is done when your cash runs out. Is that a strategy you and your family employ on Black Friday? Or do you avoid the craziness entirely?
Yes, we use cash only. My wife usually gets out early on Black Friday, but she didn’t this year. I usually go later in the day after all the crazies go home.
nice article .. also Thease 5 tips are awesome.
The Problem with Black Friday is that it promotes impulse buying. You’re in a rush through the store, and you feel like you don’t have time to really think about an item because if you do, it’ll be gone.
The "scarcity" thing is a biggie on Black Friday. They create such an emotional frenzy that people act without thinking, and that’s how it’s so easy to overspend. Always have a plan!