Growing up I looked forward to Black Friday shopping almost as much as Thanksgiving Dinner. Each year the women in my family would join the masses and shop at crazy hours of the night to get some awesome deals.
Shopping at 4 or 5 am with my mom, sister and other family members are some of my favorite memories. But did our Black Friday adventures really save us money?
Honestly, sometimes it saved us money and sometimes it didn’t. Sometimes it actually cost us more to go Black Friday shopping than purchasing items at regular prices.
The Cost of Black Friday Shopping
How could black Friday shopping cost us more? There are a few different ways it has cost me in the past.
#1 Buying Things I wouldn’t normally Buy
I have been guilty of purchasing things just because it’s a good deal. It’s not something that would ever make it on my list, I don’t need it and I will probably never use it. But it was on a really good sale.
If it’s something you wouldn’t buy at regular price it’s probably something you shouldn’t buy.
#2 Using Credit
Using credit to go shopping almost always means you will spend more than you should. Either because you will pay interest on the purchases or because it’s easy to lose track of how much you have spent when you swipe the plastic.
#3 Buying Things I don’t need
This is almost the same as number one but with one big difference. Somethings I don’t need I want. Unless I can pay cash for the items I want I shouldn’t be purchasing them.
Now I’m not saying you can’t save money by shopping on Black Friday because you can save a lot!
When your Black Friday shopping make smart shopping decisions. Ask yourself, do I need this? Would I buy this if it wasn’t on sale? Do I have the money to pay for this?
If you need gifts, household items or clothing and you have the money you can save hundreds by shopping on Black Friday and Cyber Monday. If you don’t have the money buying things you don’t need on Black Friday will end up costing you more than regular priced items.
Have you ever Spent too much money shopping on Black Friday or Cyber Monday? How do you keep your spending in Check?