It’s November, which means your favourite stores are hyping you up for one of the biggest shopping events of the year: Black Friday. And let’s not forget its partner-in-crime, Cyber Monday. You’ve seen the ads, and you’re looking forward to snatching up great deals. It’s every shopping-lover’s dream, but there is a catch. Be careful you’re not actually walking into a dangerous trap: overspending. While we think we are saving big, we can end up spending and buying more: more than we want, more than we need.
So how can we make sure we don’t fall into this dark “over-spend” hole? Here are 7 things to consider before you go all-out for Black Friday and Cyber Monday:
1. Learn from the past
We know it might be painful to revisit this memory, but what happened last year on Black Friday, or any year before? Remember cringing while checking your credit card statement? Before you go out this year, take some time to reflect on previous Black Fridays, and let’s try to prevent those cringey feelings!
2. Don’t pull out the card
Don’t even think about pulling out a credit card unless you are 100% sure you can comfortably pay it off at the end of the month. To constantly making new purchases on your credit card, you’re not only responsible for the costs, but also the interest charged if you can’t pay it off by a certain date in the (very) near future.
3. Logic is your best guidance
There are certain good deals that only happen on Black Friday, but be mentally prepared to know when it’s enough. Leave your emotions at home and let reason be your guide.
4. Bring a friend with you
To make sure you follow your original plan, bring your friend who can be an extra help to decide what to buy and what to leave on the rack.
5. Plan to have a certain budget
And stick to it! It’s definitely a good idea to make a list of the specific items you are hoping to pick up this Black Friday, and then limit yourself with the budget.
6. Know when to prioritize and when not to rush
Prioritizing can be a hard decision; however; it’s smart not to rush. For clothing and shoes, keep in mind that if you’re a popular size, you might have to rush. It’s a fact that deals are gone quickly on Black Friday. But it can be easy to feel pressured into purchasing something without being persuaded if it’s really doing any good.
Pro tip from our team: if an item meets your needs, take a little time to do some research. Read some reviews or check out similar items. It can be very tempting to feel like you absolutely have to act now, but it would be very frustrating to only end up with a poor purchase.
7. Put the gifts to a minimum. There are so many ways to let people know how much they mean to you or that you are thinking of them during the holidays without spending a lot of money. Think handmade gifts: soap, knitwear, etc..
Well, that’s a wrap! Hope everyone is ready to enjoy this crazy shopping holiday. Let the hunting game begin! Just kidding. Cost-conscious aside, let’s also be environmentally-conscious -- you don’t want to have too much unrecyclable packaging and shopping bags in your home!