Thanksgiving is a time of peace, of relaxation, of getting together with your friends and family and expressing gratitude for all the good things in life. Unfortunately, this is just the calm before the storm. Because, the very next day, all hell breaks loose. I’m talking about credit card hell, of course, since nothing makes your credit card scream louder than Black Friday.
Every year, the very next day after Thanksgiving, millions of Americans rush to shops to spend billions of dollars on what they believe are the best deals out there. Black Friday represents the start of the holiday shopping season, and it tends to bring out the worst in many people. Not only because of all the brawls that start, as Americans try to get that last toy remaining in the entire shop, but also because people forget about being financially responsible. Shopping sprees are a great way to bring debt into your life, especially if you’re not careful. Black Friday may come with discounts, but, no matter how you look at it, buying a ton of stuff you don’t need is still wasting money.
To help you out, we’ve put together a list of four suggestions that will help keep your finances safe during Black Friday. Here they are:
1. Start with a list
If you really want to spend money, then you should make a list of the things you need. And try to stick to it. This is probably the hardest part. But, if you manage to do it, your finances will thank you.
2. Realism is your best friend
Each item on your list has a price. Before you go out shopping, check those prices online and see what the total is. If that total is above your budget, either cut some things from the list or stay at home. Don’t buy things that you can’t afford!
3. Do your homework
If you really want to get the best deal, then take a look at ads and fliers, and see what is best for you. A smart shopper can save hundreds of dollars and also get the things that he or she needs most.
4. Know when to stop
It’s important that you do not exceed your budget. It takes discipline, and you might not want to do it, but it’s for the best.
Using a credit card is easy. And it’s just as easy to spend money, especially since that’s not your money. But, exactly because it’s not your money, you should be twice as careful and responsible. You still have to pay for those products in the end.
The bottom line
Holiday shopping is fun, but you still have to take it serious. Being careful and not throwing money away is a good thing. And, remember, just because other people are spending carelessly, it doesn’t mean that you have to.