Forget Black Friday Deals and Stick to your Budget

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Forget Black Friday Deals and Stick to your Budget
Do not be tempted by the crazy discounts you find on some e-commerce websites to buy what you never budgeted for.

 

This is the period of Black Friday and Cyber Monday sales; most sellers are using this medium to sell out their old stock at ridiculous prices. I am not saying these items are not original. 

One will begin to imagine if these mind-blowing discounts are real or just a branding strategy. Arguably, there are situations whereby the price of an item displayed on the landing page is different from what is being advertised.

And that could be frustrating, just like what some online media do.  They post a headline on social media when you click on it; another thing entirely comes up.

 “While discounts are real, consumers must spend wisely. The discounts are huge. I do think that greed comes into play, so the willingness to spend is much higher on Black Friday” says Vincent Hoogduijn, the CEO of e-commerce at Media 24,

He argued that the opportunity to sell certain products at a price level that normally wouldn’t sell certainly is going to sell on Black Friday because people are geared to spend. But the discounts are substantial, and they are real.”

However, when I checked some of these websites the prices of some items were slashed over 50 percent, some less. Are they selling below cost price or selling cheap items? One will ponder.

The real is a deal is not to go out of your way and spend your money carelessly. Am sure some people would want to spend just because of the fear of missing out on these special offers.

There will always be good deals, so you need not be in a hurry. It is not t grab any deal that is within your budget. If you never plan to get such product before now, then, there is no need. 

However, do not even be carried away when you see deals. You can easily visit other e-commerce sites and make a price comparison. You might be surprised to other better offers than what you have seen before.

For instance, I saw a mouth-watering discount for iPhone 5S on a particular e-commerce site, I checked it, and I love it. Then, I had to visit other websites to see if I could see better discount and guess what, I did see better offers. That is how these things work.

The advice is this; do not spend more money because the Black Friday or Cyber Monday is on. Always spend within your budget and remember to apply the principles of personal finance.