Black Friday

It’s that time of year where we spend quality time with family, eat copious amounts of food, and give thanks. Oh, and, I must not forget the anticipated or overrated shopping frenzy that is Black Friday and Cyber Monday. Here are five tips to help you develop a game plan and not overspend:

1) Set a budget

Before you open the store door or the browser tab, arm yourself with a budget. The sights, sounds, and smells make it easy to fall victim of overindulging, so keep yourself accountable by only bringing cash, or bring a friend with you to keep you in check on your spending. You will thank yourself later, I promise.

2) Research original prices

To have a successful cost-savings shopping experience, there is some leg work needed before the big day. Go to several sites for cost comparisons and bring that research with you. This will help you realize if you are actually getting a good deal.

3) Shop with a purpose

Know what you want to purchase so you avoid the temptation to buy an extra gift here and there due to its sale price. Retailers are set up to entice you with that extra accessory to make your gift “complete.”

4) Buy essential items

If you are shopping for yourself, stop to think if the item is something you really need or simply something you want only because it is discounted. Often, impulse buys lead to regret. Yes, the idea of having the most up-to-date television sounds very tempting, but do you actually need a new television?

5) Enjoy

If your idea of a good time is battling crowds and the rush of the actual shopping experience, then, gather a friend or two and have fun. If you prefer the comfort of your home enjoying a cup of hot coffee in your pajamas, then, sip, sit back, and shop. The important part is enjoying the holiday season.

In addition, JP Williams is the Founder of Pillar Wealth Group who lives and works near Columbus, Ohio. JP founded Pillar Wealth Group with over 17 years of experience and specializes in financial planning, retirement planning, investment management, risk management, college planning, and estate planning. Contact us today to get started with your financial wellness journey. Contact us today to schedule an introductory meeting!