Black Friday has become almost bigger than Thanksgiving itself. Shoppers leave family gatherings and line up early, hoping to score the best deals. Most end up dropping thousands of dollars on must-have purchases, even when they don’t actually need these items.
So is Black Friday worth it… or is it all a big hoax?
While Black Friday deals may be wrought with savings, many of Them are of very limited quantity meaning if you’re not first in line, you’re going to miss out.
So what, you camp out an entire day in the parking lot hoping to be the first one through those doors? Is all the time worth the payout, especially if you miss out on the deal anyway?
A commonly purchased item on Black Friday is the latest and best of technology. TVs and gaming systems are big ticket items that you may be willing to elbow other shoppers out of the way to get. However, do your research before swiping your credit card. Companies sell derivatives of TVs and other tech items that are cheaply made and not intended to last.
You are able to get such a discount because these items are pieced together by extra parts. Don’t be surprised if they break down the minute your warranty is up. Save your money and look up the specs on your tech before making a major purchase.
Companies love to advertise door-buster prices by saying that this is the best deal you’ll ever get all year. Unfortunately, that’s not really true. There’s research that TVs are actually the cheapest the week before the Super Bowl and that jewelry gets discounted right after Valentine’s Day. Dealership pricing on cars is actually lower in April.
If you’re thinking about making a big purchase and really want a discount, take a little time to explore the prices for the other 364 days of the year.
Another thing to think about: Are you just buying this item because it’s on sale? Would you pass if it was at the full price? If you answered yes to these questions, skip that purchase and keep your money. That’s where the real savings are.
Skip the excess spending this year and stay home with your friends and family. You’ll save money and get quality family time. If you do decide to go shopping, do you research first to avoid buyer’s remorse.