Black Friday and Buying Out of Budget
The madness is on. All you’re hearing about this week is Black Friday and the deals that can be had. You know that laptop you want. Well, it can be had for $300 off. Or you can upgrade to the better model for the same price as the one you wanted.
That plasma/LCD TV you’ve yearned for this past year. Well, it can be had for $600! So why shouldn’t you go out this week and buy all that stuff you’ve wanted? You’re getting a major deal, right?
The answer here is simple:
If the purchase is in your budget, and you’ve been saving specifically for it, and the sale price is within WHAT YOU’VE SAVED SO FAR, then go ahead and buy it.
Otherwise, if you still can’t afford it in your budget, then it’s not time to buy it.
Here’s a personal example. I’ve been wanting a new laptop since my Sony Vaio (that I got for $100) has been wearing down. It still runs great, but the exterior is really run-down. I’ve been justifying the idea of a new laptop with the extra money my site brings in, but Stacie keeps bringing up a good argument.
I just don’t need it. I hate her for this, but she’s right (for now). My laptop works perfectly fine. Just because I can get a great deal on a shiny new laptop (and my employer pays for about $350 of it) doesn’t mean I NEED to get a new laptop.
The same goes for a new flatscreen TV. I WANT a new TV, and I can get a great deal this weekend on a new one, but we don’t NEED a new TV. Honestly, I’ve been complaining about how I want to watch less TV, not more! However, Super Mario Galaxy on a 50″ plasma would look really amazing.
For us, our goals are to get out of debt, not buy more stuff. When we get out of debt, then we can change our goals and begin saving towards paying cash for those luxuries we had to do without for years (not counting the MINI Cooper). Until then, we’ll be avoiding the malls, and online stores, this week until our goals and budget allows for an upgrade in any part of our lifestyle.
Until then, we’re in maintenance mode. We’re just maintaining the things we have, scaling back when needed, and treating ourselves with small things like chocolate or a new Wii game every few months.
So when you see that ad circular come out with all these great “savings” off things you want or think you want, think further about what is valuable to you right now. Could your money do more for you in savings or an investment than sitting in an entertainment system when you have something perfectly suitable? Maybe start saving NOW for something NEXT Black Friday. Then, you’ll get a great deal on even more advanced technology (or for you Single Ma, better boots or jacket) and you’ll be able to pay CASH for it.
I know, the temptation is hard. The body is willing, the mind is weak, and the credit card is so powerful.