We’re coming up on the frenzied holiday shopping season, and it’s a good time to stop and reflect on whether or not it makes sense for you to spend money on Black Friday and Cyber Monday are worth it for you.
I’m not a big fan of holiday consumerism, and tend to shy away from these types of events. My husband thinks it’s fun to get a deal, so he often sits around with Amazon Lightning Deals and does what he can to snipe the best bargains. However, he doesn’t usually go too overboard, and we don’t end up spending a ton.
For some, it’s really not worth it to spend the time and money on Black Friday and Cyber Monday. As you consider your shopping options this year, here are some things to take into account:
Do You Need Anything Else?
The first thing to consider is whether or not you need anything else. Spending just to spend on something for the “deal” isn’t really a “savings” type situation. Look at your holiday gift list, and look around your home. If you don’t actually need anything, it doesn’t make sense to get geared up for Black Friday and Cyber Monday. Your pocket book — and your sanity — might fare better if you skipped out.
Have You Been Looking for a Specific Item?
Sometimes it’s not just about need. It’s nice to buy something because you want it, or you know that you will use and enjoy it — even if it’s not essential to your survival. If you have been saving up for a specific item, or looking for something, such as a TV or a computer, Black Friday and Cyber Monday can offer you some good deals.
Whether you are looking to get a good deal on a new bed for your child, or whether you are hoping for a new blender, it can make sense to shop the deals. You should just have an idea of what you are looking for, and stick to that.
How Much Will You Really Save?
Be sure to run the numbers. Will you really save a lot when you buy on Black Friday or Cyber Monday? The reality is that these days may not actually be the best days for the best deals. Research indicates that you can often get good deals the Sunday before Thanksgiving, or during the week leading up to Christmas.
There’s a lot of hype around Black Friday (and, increasingly, Cyber Monday), and many people just assume that they are getting the best deal. However, this isn’t always the case. You might actually do better by shopping sales year-round, or by waiting until just before Christmas.
Another consideration is how much you spend in addition to your list. Impulse shopping can cost you more than you realize. When you’re in Black Friday and Cyber Monday shopping mode, it’s hard to control your impulses and say no. This can lead to spending more than you had planned, and it might wipe out your planned savings.
With careful planning, and a practical approach, it’s possible to find good deals and keep from breaking the bank.
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