Black Friday is a pretty strange concept overall. Yesterday we all sat down with our family and friends and thought about what we are grateful for. Then before our turkey can even digest shoppers rush out to stores to fight each other for the next new gadget. The big secret is that if you stay away from the big box stores you will receive a 100% off deal and no money will leave your pocket. The key is to let this day pass over and avoid the chaos.
Skip the Deals
If there is something that you have needed for a long time and you can pick it up for a deal today so be it. I would argue though that most people get online and search for a good deal and then talk themselves into the purchase. This is the whole point of why the big stores do this, there is now a frenzy built into the mind of the consumers that are associated with this day. Today is just like all the rest and most deals can be found year-round. The Black Friday ads and sales are a call to action to get the consumer to think of what they need to waste some money on.
Focus on Family and Friends
Instead of fighting the crowds stay at home with your family and friends. Get outside and get active or head to a movie together whatever you do just focus on being with each other. Everyone claims there is never enough time to see their loved ones, so don’t waste away today! Many people have traveled to be with each other and have the long holiday weekend off so take advantage. You will make lasting memories with your family if you focus on them today. On the other hand whatever item you buy today will be forgotten about within the next year as the newer and shinier version replaces it (IPHONE11!).
What To Do With All The Money You Didn’t Blow
- Get an unexpected gift for someone you care about.
- Take your significant other out to dinner.
- Pay off debt that continues to hover over you to position yourself for a better 2018.
- Invest in yourself to build skills to get a better position in 2018.
- Open a Roth IRA.
- Build your emergency fund.
- Give the cash to a family you know is worthy but really struggling.
- Buy 100 burgers from McDonald’s and pass them to the homeless.
- Start your child’s 529 plan for college.
- Stash the money for a vacation you will get more enjoyment from down the road.
Try to keep the thoughts that you had on Thanksgiving going this weekend of gratitude and spend as much time with your family and friends as possible. Make sure that if you do go out to make a purchase you need whatever you are buying. There is a trade-off with money and most of the world will be back away from their families at work again on Monday, so make today count! Happy Thanksgiving leftovers day.
What Are Your Thoughts?
- Do you participate in Black Friday?
- Is there something I am missing out on by not going today?
- Is it bad I discourage people to go out and buy when I own stock in the companies they will buy from?