Anyone can easily get carried away during limited-time sales or events like Black Friday. Here are a few tips to avoid that trap, and make sure we are saving money to build a better financial future.
1. MAKE A LIST AHEAD OF TIME
You’re in big trouble if you just plan on walking around the store and seeing what deals you find. Instead, make a list of 3-5 items, and the discount you’d need in order to purchase them. Don’t break from your list.
2. REMEMBER WHAT A DISCOUNT MEANS
Especially if it’s an unplanned purchase, you’re never saving money. 20% off means you’re still spending 80%. Don’t let these little sales tactics throw you off your game.
3. DON’T BE PENNY WISE AND POUND FOOLISH
Have you ever gone to a different gas station because it is a few cents cheaper per gallon? If you do the math, this means you may be saving between $0.25 to one whole dollar! It’s just another trick. Many small “deals” will take off a dollar here, a dollar there. Is it really worth it?
4. LEAVE THE STORE AND SEE HOW YOU FEEL
Let’s say you start filling up your cart with potential purchases. Before checkout, stand by customer service and do a cart purge. There are definitely things you picked up that aren’t necessary. And if you feel compelled to make a large purchase, leave the store first. You’ll feel your spending fever lift immediately, and then you can make a more conscious decision.
5. FOCUS ON WHAT YOU ALREADY HAVE
Special events like Black Friday are just another way to keep us consuming and dissatisfied. Rebel against it by being grateful. Chances are you already have every thing you need to live comfortably: food, shelter, and clothing. A majority of our disposable income goes to “wants”. Practice minimalism and discipline.
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