FTC: This post is not sponsored and I am not a financial advisor. All thoughts and weird opinions are my own.
The world may be upside down, but nothing can get in the way of Americans going HAM on Black Friday for the latest price drops on items they've been eyeing for weeks. We have reached that time, where we celebrate being thankful for what we have, and run each other down for the PS5.
Though this year's Black Friday is surely going to be different than anything we've ever experienced, there are still going to be tons of deals on these here inter webs. That's why I've cultivated 5 things to avoid on Black Friday to ensure you're sticking to your budget, making the best financial decision during the holiday season, and getting the most bank for your buck of course ! Let's get into this list and talk about the things to avoid on Black Friday and the things to go after.
There are certain items/ things that don't get their biggest/ deepest discount during this time of year. It's not a common known fact, but I'm hoping that this read will put you onto game and help you shop with intention.
The best time to buy exercise equipment is post holidays (think January time). Why? Well the New Year brings an onslaught of "New Year New Me" goals that center around weight loss and personal fitness. If you're in the market for high end / expensive exercise equipment like treadmills or Peloton bikes, price check on Black Friday but wait until the new year.
The important thing when shopping on Black Friday is you have to do the work before the day. I suggest to check prices now on the items you want (like the treadmill or elliptical) and watch the sales prices. You may get a good deal during Cyber week but I'd still suggest waiting until the New Year.
I know I know... we all love a good deal and think BJs, Costco, and Sams Club are the end all be all. But here's the thing, especially for me, if you live alone or in a small space, buying anything in bulk (especially during Black Friday) will likely lead to waste. I can't tell you how many times I've purchased a hot ticket item on sale in bulk because it was saving me so much money. Then I'd end up having to throw out the item because it has expired, or have ZERO space to store the large bulk purchase.
Though bulk purchases are great in theory, it isn't always the practical move.
This goes without saying, but I'm going to say it anyway. If you don't need something, there is no need for you to buy it because of the flashy sale sticker the store is broadcasting. It is called marketing my love.. don't give in. Instead, make a list of items you truly need as well as a strict gifting list. Look at your holiday spending budget (remember we're cash funding this year- no credit card debt), and track the prices of the items you want.
Don't veer from the list, don't loosen the budget.
This is going to tie closely to the previous reason, but just because the new iPhone came out, or a new pair of AirPods hit the market, doesn't mean you need to grab it. You'll actually get a better deal on the latest iPhone 8-10 mos later. Honestly your current bluetooth headphones work just fine, your current phone can last another 8 mos, and your current camera takes pretty great pictures already.
Unless your current tech is completely not functional, or slowing down your workflow, save the coin and buy at a more fiscally appropriate time, where you can get much deeper discounts. Trust me, there's a reason a majority of the new Apple products drop in the 3rd and 4th quarter. They want you to spend for the holidays, before they prices are dropped and deals come out in the spring.
Well well well... I don't think (at least I hope not) there will be many "doorbusters" this year due to the state of the world, but I've been wrong about everything this year. Wile doorbusters can be exciting, I hate to break this to you but most of the time that "door busting" deal is going to be the promotion used for the entire holiday season. Meaning you have no reason to rush and go buy something on day one, when there price will stay the same for the next 4 weeks.
Secondly, if the deal really is phenomenal and only offered on one day, it is usually for the generic brand / version of the hot ticket item. Trust me I've seen people scramble for off brand Roombas , vacuums, and televisions. While there is nothing wrong with buying generic (in fact I recommend it many times for many different items) that is something you want to keep in mind. Is it wroth "door busting" to get a generic television for 200 dollars, or can you save that money and use your current television a little while longer (I've had my tv since 2011... so what do I know about new technological televisions ! )
Stay tuned for my next post this week offering more than things to avoid on Black Friday , but going into detail about 14 things that are not worth buying now (and I tell you when and where to find the best deals on them too!! )
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