As we head towards the end of the year, people start looking forward to holidays, time spent with loved ones, and of course, holiday sales and bargains. The biggest holiday shopping event is obviously Black Friday, as many brands start offering massive discounts and savings. Mentally, this can be a challenging time, seeing everyone brag about what they bought, and all the cool new items they were able to get for a steal.
It’s tempting to follow the crowd and use this time to splurge and shop up a storm, but in order to get the most out of holiday sales, self-discipline and self-control are a must. Many people get swept up in the excitement of the holidays, and then end up with a lot of regret in January. The last thing you want is to head into the new year with more debt and financial stress. On days like Black Friday where the temptation to spend a lot of money is high, how do you keep yourself in check? Here are a few simple strategies that will help you avoid unnecessary overspending.
Understand Why You Want to Spend More
It’s important to understand that sales and discounts play upon our psychology in many different ways. One psychological effect of Black Friday is that it triggers a fear of missing out, also known as FOMO. When it feels like a certain resource is cheaper and there are more people clamoring for it, that can make us fall right into a frivolous spending spree. Knowing that this facet of human psychology is to be expected will help you push past your emotions and apply logic. Marketing companies and retailers are going to want you to feel as much FOMO as possible and act on it, but you don’t have to. There’s absolutely nothing wrong with not buying anything on Black Friday because you don’t need to. Just remember that all the social media marketing and advertising wants you to spend, but if it’s not necessary, you can sit the holiday sales out and save your money.
Go In With a Game Plan
If you want to make it through holiday discounts without making any bad decisions, go into it with a set game plan. Create a list of the things you would want to buy and try not to deviate from it. The challenge with not having a plan beforehand is that it makes it easier for you to end up with useless impulse buys that you will hate in 3 months. Rather come up with a wishlist and then use it to govern your purchases. Black Friday isn’t the time to buy whatever comes to mind, it’s a time to take advantage of discounts on things you were going to buy anyway.
Make Sure There’s a Real Discount
When it comes to holiday sales, people easily get swept up in the excitement that often they don’t take the time to even figure out if they got a big discount in the first place. Sometimes you’ll discover that something is on sale on Black Friday, but the price didn’t drop by much, or it didn’t drop at all. To avoid falling into this trap, have an idea of the original price of the item you wanted to purchase beforehand so you can be sure that there really is a discount,
Spoil Yourself on the Little Things
There’s nothing wrong with spoiling yourself to a sale if it’s not a huge purchase, and holiday discounts give you the chance to do that. This is a time to find yourself a special deal without breaking the bank. If you love clothes, sites like Fashion Nova will have great discounts and deals to take advantage of, and if you like beauty and make-up, there are many retailers who will do promotions, discounts, and even bundle deals. Buy yourself one or two things from these places, and make sure it’s things you really want, not things you’re buying just because they are cheaper.
With holiday season sales upon us, it’s easy to get whipped up into a spending frenzy by friends, family, and retailers, but you don’t have to fall into the trap. Make sure you have the right mindset and strategy going into the holiday season. That way if you buy anything, it’s stuff that adds value to your life in the long run. If you really want to spend your money wisely, don’t go into it blind. Be smart and strategic about every dollar you spend.