The pitfalls of Black Friday Sales and how to avoid them

The pitfalls of Black Friday Sales and how to avoid them
November 26, 2015 CashLady
black friday sales

Once again, black friday sales are upon us, and its bigger and crazier than it’s ever been.  Retailers have been advertising for a few weeks leading up to it, creating confusion and also leaving consumers feeling overwhelmed. Here at CashLady, we are always encouraging spending within our means and we wanted to share a few tips on how to not fall into the trap of being sucked into buying things that we never intended to buy in the first place.

1 – Do you really want it? Only buy something you absolutely need. Ask yourself if the item is one that you cannot do without and essential to everyday life. Would you have originally thought of buying it if it weren’t for the black friday sales?

2 – Don’t get caught up in the frenzy. Retailers love Black Friday and the hype and enthusiasm created of the day causes a lot of people not to think straight and be impulsive with their spending. Take a step back and plan for only the essentials.

3 – A  lot of black friday sales, especially electronics, are of older models that retailers are trying to clear out of their inventory.  Hence, some of the deals offered may not be as ‘jaw-dropping’ as they first seem.

4 – If you already have checked out essential items into a cart during an online shop, close your browser and wait patiently for a day or two. Most retailers will react to this by trying to persuade you to come back – most often by offering discount vouchers. This can help you save valuable money when buying essentials.

5– Do ample research. Whether you’re shopping online or at a store for an essential item, it’s important to have the right strategy to get the best deal for this item.

Getting sucked into Black Friday sales is exactly what retailers want you to do and it plays on the human condition of impulsiveness. Following a simple set of rules and guidelines will help avoid falling into the pitfall of spending beyond our means and will allow us to think rationally and only purchase essentials.