Did Black Friday put you in the red?

Yesterday was the annual Black Friday, but what is Black Friday?  It comes from America, and is the informal name for the Friday following Thanksgiving Day.  It is celebrated on the 4th Thursday of November. 

Black Friday, since 1952, is said to be the beginning of American’s Christmas shopping season.   As has happened over here, they too have experienced horror stories of people fighting each other for those bargains.  People have been known to queue up all night, in the hope to get that great deal.

So is Black Friday really what we all hope it will be?

I have to say, I don’t buy into all the hype!  At lot of stores have great deals all year round now. There probably is the odd deal going, but I honestly don’t believe that we will all go shopping on that one day of the year, and make great savings!

Firstly, how many of you yesterday went shopping just because it was Black Friday?  I would probably say, quite a few.  I work in the centre of Birmingham.  You could really see the increase of people on the streets, as I fought to make my way to the station last night.

Secondly, how many people bought things they didn’t plan to buy?  Again, probably quite a few!  This group of people are the ones who will think they have had a fabulous deal, but in actual fact they haven’t!

The reason I say this, is that they have actually spent money they were not planning on spending, on something they probably didn’t need.  For example, say you are one of those people who has gone shopping just because they think they could get a bargain.  They go into a shop and see this massive sign saying that a TV was £500 yesterday, but today its £300.  You have to buy it.  I mean, that is a bargain and in their head, they are saving £200.  Stop and think about that again!

In actual fact, they have just spent £300 they were not planning to spend, so in fact they haven’t saved money, the exact opposite.

The same goes for smaller items.  Just because something has been reduced, doesn’t make it a bargain.

Next time you go shopping, and you spot those big signs, telling you of a bargain, stop and think.  Ask yourself, do you want it? Do you need it?  If it wasn’t on offer, would you even have looked at it?  If the answer is no, then step away!

Supermarkets have been doing this for many years.  Have you noticed when you walk in the door, there in front of you are ‘todays offers’!   How many times have you bought biscuits because they were on offer, or buy 1 get 1 free?

Would you have bought them if they were not on offer?  If not, you didn’t get a great deal did you?  What has happened, is that you have spent more money than you planned to.

Don’t get me wrong, there are some great bargains out there.  If you are genuinely looking to buy something, and it has been discounted, go for it.  I know I did get a bargain myself yesterday.  Not because I was caught in the hype.  It was something I have been wanting to buy for a few weeks.  I had a discount voucher which was running out yesterday, so I just looked on the off chance that it might be reduced.  Bonus it was, so I bought it.

I can honestly say, I did get a bargain, as I would have bought it anyway.

Black Friday now seems to last for a good week, so you have plenty of temptations to test you. How will you do? We all love a bargain, just as long as it really was one!  

Enjoy your shopping but just remember not to get carried away!

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