Bring Clarity to Your Finances™

Clarity Financial Planning Services is an advocate for your financial future who takes a holistic approach to your needs and goals.

Don’t Go in the Red on Black Friday

We have always had the ability to ‘shop ‘til we drop’ and that is especially true during the holiday season. As the years have gone by the winter holiday season crept into the fall and now people start shopping much earlier. This is not referring to people who purposefully buy gifts all year long with the winter holidays in mind; but to people who fall prey to the temptation of so many sales.

Retailers have decided to take advantage of holidays that are celebrated in October by offering so much more merchandise than they ever did before. A shopping “holiday” that used to be just one day (Black Friday) has now been stretched to last more than a month.

In discussing the expansion of Black Friday, observed that this year people are being encouraged to shop early, in part, because there are rumors and fears of scarcity. Many of us probably didn’t discuss cargo ships and supply chain issues before, but we do now.

The title of an article from The Province says it all, “Don’t let fear of missing out justify Black Friday spending”. The article tells readers that “the best deals are the ones you can afford” and even then you need to compare prices and avoid being swept up in advertising designed to reel you in.

All of these bargains combined the carpe diem feeling people have because they are happy about making it through another year will likely increase sales…and debt.

No one wants to be advised to take caution, but please do. You do not need to buy everything that seems to be marked down. Some advertised sales aren’t really offering much of a discount if the retailer inflates the price and then pretends to slash it. 

And as we have discussed on this blog before, there are diminishing returns on buying objects. Many people find more happiness in experiences.