This is a revised version of my blog (Don’t Fall for It), published on 11/27/23
The holiday shopping season comes with enticing buzzwords: Cyber Monday, Black Friday, and Holiday Sale Extravaganza. These are crafted to draw you into spending, often on things you don’t need. Resist the hype and stay in control of your finances with these practical tips for navigating the season’s sales:
1. Buy Only What You Need
Sale events are designed to make you purchase more than planned. Before heading to the store (or clicking “Add to Cart”), define what you actually need. Stick to that list.
2. Avoid Impulse Buys
If you hadn’t considered buying an item before the sale, don’t let a flashy discount tempt you. Sales events often highlight products you don’t need but suddenly want. Stay focused.
3. Plan and Stick to Your Budget
Establish your spending limit before shopping. If an item exceeds your budget, let it go—no exceptions. A deal isn’t a deal if it causes financial strain.
4. Know the Cost Upfront
Be wary of hidden fees or unexpected costs. Research thoroughly to ensure transparency. Step away from the transaction if you uncover surprise charges—it’s likely not worth the risk.
5. Your Budget Is More Important Than the Sale
Salespeople may try to convince you that a purchase is essential, but it’s not. Your financial stability takes priority over any discounted item.
6. Track Pricing Cycles
Avoid paying full price for items. Pay attention to the sales cycles throughout the year, and plan your purchases when prices are at their lowest. I use the Honey Extension/app to do this. It works great.
Budgeting Is a Year-Round Process
Smart holiday shopping starts long before November. Prepare for gifting by identifying what you’ll need to buy and saving steadily throughout the year. By doing so, you’ll have the funds ready when it’s time to shop—without the stress of overspending or running into debt.
Careful planning can make the holiday season joyful and free from financial worries. Remember these rules, and let your budget guide your decisions, not the sale signs.
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