Today’s Tuesday Tip is more simple than most. Rather than subjecting yourself to the long lines, aggressive shoppers, and potential credit card debt problems, just stay home on Black Friday this year. Enjoy a delicious turkey sandwich and spend the extra time with loved ones instead!
Why Black Friday Isn’t Worth It
Black Friday has long been awarded the title of “biggest shopping day of the year.” This started as a post-Thanksgiving tradition of using the extra day off to get a head start on holiday shopping. Retailers used this opportunity to entice shoppers into their stores with one-day sales. In recent years, however, the quality of sales has diminished due to a number of factors.
For starters, shoppers are already committed to the day as a shopping holiday. There is less incentive for store owners to lower prices too much because large crowds are already a certainty. Nowadays the same or even better sales take place earlier in the week or after Friday.
For many items, there are simply better times of year to get good deals on them. TVs and winter clothing are generally cheaper in January for example. Other classic Black Friday choices like tools, furniture, or appliances go on sale in the summer or spring. It’s easier to keep debt reduction and other financial goals on track if shopping is spread throughout the year.
The final reason shoppers brave the crowds after turkey day is the doorbuster deals. For these types of deals, you have to get to the store very early and then compete with others for limited items. There is a high probability that you won’t get the items you’re focused on. Plus, these items are almost always outdated or from an inferior brand.
Better Black Friday Activities
Thanksgiving and the day after are about togetherness and connecting or reconnecting with loved ones. Take advantage of the time off and the proximity to family and friends. There are leftovers to eat and better ways to spend your time!
- Try some crafts with kids. If your nieces and nephews or even your own kids are around, grab the glue sticks and get creative! Maybe you can even use the time to create some extra special holiday gifts, which can leave more money available to help with debt relief.
- Enjoy the great outdoors. This might be one of the last days of the year where the weather is suitable for a hike or bike ride. Use it to see a new place or take your relatives to a favorite spot.
- Just keep eating. Those leftovers aren’t going to eat themselves! Ok maybe this isn’t the greatest idea, but it’s better than going out to buy things you probably don’t need right now.
No matter how you choose to spend Black Friday, remember that the greatest debt management strategy is to limit spending wherever possible. There are many tempting sales this time of year. Just don’t get caught up in the hype and buy more than you can afford!