Do you lose more money than you save on Black Friday? These are the questions to ask to make sure you come out ahead.
There is a little known fact that the psychology behind Black Friday is quite elementary: When people believe they are getting a deal they will continue to spend on additional items. So long as the wallet is open, there will be a propensity towards overspending. To be honest, I’m as guilty as anyone else when it comes to buying things during this sale.
So, the question: Did I come out ahead when all was said and done? It’s entirely possible that I saved $224.00 on that computer. But I blew it on the vintage arcade pinball machine that my kids liked when they played with it in that hotel 2 years ago.They told me in all seriousness that they would play with it every second if they had the chance. I’m sure they’re telling the truth!
So before you buy on Black Friday ask yourself these 3 questions:
- Am I really going to use this?
- Would I buy this if it wasn’t 52.34% off? Was I in the market for this before Black Friday?
- Where is it going to go?/Do I have room for it?
It sounds simple, and in reality, it is, but it’s hard to pull off. Black Friday deals are just soooo enticing and they make everything look amazing. The big box stores and eCommerce sites spend boatloads of cash to make everything look just right, and they do an amazing job. The amount of marketing dollars spent during Q4 are enough to make your head spin. The questions above simply give you a moment to step back and reassess before you click “Buy.”