The biggest shopping day of the year is fast approaching and many consumers are getting excited over rock-bottom prices on fresh merchandise such as televisions, children's toys, computers and more. However, not everyone gets excited for Black Friday shopping. In fact, some consumers avoid Black Friday shopping at all costs. While individual sales can save you money if you are in the market for the item that is on sale, Black Friday as a whole can be quite expensive for consumers. While Black Friday shopping is exciting, and the deals look impressive, the cost can be considerable. Does Black Friday shopping really save you money? The answer to that question depends on the type of shopper you are. Here is a look at the downside of Black Friday shopping and why caution should always be exerted when shopping on the day after Thanksgiving.
The Chance for Temptation Is High
With Black Friday sales circulars offering discounts on just about anything you could think of, it is easy to see why some consumers fall prey to temptation. Even the most practical of shoppers can fall prey to an impulse-purchase among the sea of doorbusters, circulars and crowded lines at the retail stores. With the chance for temptation running so high, it is easy for shoppers to spend over their budgeted amounts. There are quite a few impressive Black Friday ads for large retailers looking to tempt citizens out of their hard-earned money. Shoppers will have to work very hard to keep their budgets in peak condition while shopping on Black Friday.
A Deal Too Good to Pass up?
Have you ever heard the phrase: "A deal too good to pass up?" This phrase is often used in reference to Black Friday shopping when a consumer finds a great deal on something he or she doesn't necessarily need. The consumer wouldn't have purchased the item if the price wasn't great. Regardless of how much the price was slashed, if the item is something you don't need or are only going to use a handful of times, it is likely a big waste of money.
Black Friday shopping is more like competing in a long-distance race than purchasing items at a store. You need endurance to survive the long lines and patience to survive the crowds. Black Friday has the tendency to get consumers very excited, and consumers go into a sort of shopping frenzy on the day. Overexcitement mixed with adrenaline and a credit card is not a good combination for keeping a budget intact.
Keep Your List in Your Hand and Budget in Mind
The key to surviving Black Friday with your budget intact is to make a list and stick to it. Additionally, you may want to set a specific dollar amount that you are willing to spend on Black Friday shopping. Setting a strict budget amount and leaving your credit card at home are two sure-fire ways to keep your spending at bay. By creating a list before you go to the mall, you are ensuring that your purchases are well thought out and not impulsive.
The Bottom Line
While you can certainly find some great deals on Black Friday, it is important to be logical about your spending. If you do not put a specific limit on your shopping on Black Friday, your budget will likely be blown away by impulse purchases. Prior to heading out to the malls or shopping centers, map out a shopping plan, create a list and always be sure to think your purchases through before putting the item in your cart.