Stay Out of the Red, Resist Black Friday
On Thanksgiving, many Americans will ignore the irony of stampeding through stores the very same evening that they reflected on what they’re grateful for.
Of course, Black Friday isn’t all bad – after all, this shopping day can prove successful for small businesses as well as employees who are paid time and a half for working the day of or after Thanksgiving. And for some shoppers, the adrenaline that comes with hunting for the best bargains is an annual family tradition.
According to Finder.com’s Black Friday Statistics 2023, “The holiday shopping season is upon us, and an estimated 132 million Americans plan to shop the pre-holiday sales (such as Black Friday and Cyber Monday) in 2023, according to the latest research from Finder. And with an average spend of $708, Americans will part with roughly $60 billion this year trying to score a deal.”
But if you’re struggling to make ends meet or are having difficulty tackling your debts, don’t lose heart. It’s definitely possible to have a great holiday season while also staying in the black.
New Era Debt Solutions offers the following tips on navigating Black Friday this year:
Same models, different year
Don’t be too excited by the seemingly lower prices you see on some of your wish list items. Stores need to get rid of some of their current inventory to make way for bigger and better products.
Upgraded versions of the product you’re looking at (like TVs and other electronics) are usually released in the weeks following Black Friday, meaning that the older version of the products you did buy probably would’ve gone on sale regardless, if not the day after Thanksgiving.
Be aware of pre-holiday price increases
Oftentimes, big box retail stores will temporarily mark up the price of a product before the holidays only to lower it just slightly on Black Friday to make the cost of a product seem like a really good deal. Remember, if a sale price seems too good to be true, it probably is.
Wait for better deals
The prices you see on Black Friday are, for the most part, not the lowest ones you’ll see. In fact, you’re better off waiting until after the holidays to buy the things you want. Buying gifts a whole year in advance might require some planning but may be the better option for your wallet if you are determined to shop for everyone on your holiday gift list.
Avoid the all-or-nothing mentality
Rather than completely cutting yourself off from holiday shopping, you can treat yourself – but within reason. Your success at money saving will likely wane if you’re feeling bitter about forbidding yourself from buying anything at all. Use your self-control and set up a modest budget for yourself to buy that one thing you’ve been looking at. Shop online if you can to avoid ending the Thanksgiving festivities early.
Be thankful
Whether you’re an enthusiastic Black Friday shopper or detest the thought of bargain-hunting on Thanksgiving, take a moment to think about the good things in your life. Make a list of all the things you’re grateful for and enjoy the time you get to spend with your loved ones. If you’re busy doing that, you’ll be less inclined to go out shopping.
FAQs: Stay Out of the Red, Resist Black Friday
Why is New Era Debt Solutions focusing on Black Friday?
Black Friday is one of the most significant shopping events of the year, where many individuals often overspend, lured by attractive deals. However, this can lead to unplanned debt and financial stress. At New Era Debt Solutions, we believe in promoting responsible spending habits. By targeting Black Friday, we hope to reach a broad audience and make a meaningful impact on their financial well-being.
How can I prepare myself financially for Black Friday?
Preparing for Black Friday financially involves setting clear boundaries and planning out your holiday spending. Start by evaluating your current financial situation and setting a strict budget for Black Friday shopping. Make a list of items you genuinely need and research their prices in advance. Avoid using credit cards unless you’re sure you can pay off the balance quickly. Remember, it’s better to miss out on a deal than to fall into debt.
What resources does New Era Debt Solutions offer to help me resist overspending on Black Friday?
New Era Debt Solutions offers a range of resources to assist consumers in making informed financial decisions. This includes budgeting suggestions, educational articles, and other resources.
How can I reach out to New Era Debt Solutions if I need assistance after Black Friday?
If you find yourself facing financial challenges after Black Friday, don’t hesitate to contact us. You can reach New Era Debt Solutions through our website, hotline, or by visiting our offices. Our dedicated team of financial experts is here to guide you towards a brighter financial future and provide solutions tailored to your needs.
New Era Debt Solutions has settled over $275,000,000 of debt since 1999 and wants you to be our next success story. To see if debt settlement is right for you, contact one of our friendly counselors for your free debt analysis.