November 27, 2013

Black Friday is a day we should be asking, “Why am I doing this?” Why do you think so many people get caught up in this manic behavior?

3 thoughts on “November 27, 2013”

  1. Katherine Graham says:

    I think most of the people who go shopping on Black Friday believe the ads that tell them they are getting a great deal. I also think some of the people who go shopping do so as a social event.

  2. Alex Christianson says:

    Because it is advertised heavily on television and sent out ads to people’s mail telling them how “how cheap” and if they do not act in a very limited time span, they will not get them at the discounted prices. So people follow the huge crowds and wade and weave through hoards of shopping crazy people all trying to get what you are after as well. People get caught up in this because it is A. Rare (only once a year) B. Before Christmas and other holidays. C. They are influenced by the decisions of others.

  3. Mike Finley says:

    Well said. Let’s recap.

    Black Friday is advertised in a way that makes the case that you are “saving” money buying this or that thing. You are not saving money, you are spending money, don’t fall for that pitch and don’t spend money needlessly.

    Here is a good rule of thumb when it comes to Black Friday. Don’t buy anything if your emergency savings is not tucked away and fully funded. Don’t buy anything if you are not investing monthly toward your future retirement needs. Finally, don’t buy anything just because you are getting a “deal.”

    If you are buying, follow these guidelines. Buy only what you need and avoid the emotional impulses to buy what is readily available because of the great sale. Buy your “stuff” with available cash, not credit that will end up costing you more when you pay interest on the debt you assumed. Finally, DO NOT let your emotions drive your behaviors on this chaotic day. Your future self will thank you.

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The Crazy Man in the Pink Wig