How To Prevent Overspending This Holiday Shopping Season
My son came down the stairs, phone in hand, and showed me a gaming headset he had found on the internet. He stated that the headset was exactly what he was looking for, and since it was Cyber Monday he wanted to purchase them at the discounted price. I looked at the ad for a moment, puzzled, then broke the news to my son that the headset was not on sale.
My son just assumed that because it was Cyber Monday everything was on sale.
This was a wake up call to me that this is the time of year that consumers need to be extremely mindful of their spending:
This time of year we virtually assaulted by retailers through television, print, and online ads. People are looking to buy gifts, and retailers are more than happy to sell us anything and everything. Between Black Friday, Cyber Monday, Christmas and New Year’s sales we’re in a nonstop two month sale cycle that has built a reputation as THE time to buy holiday gifts for others, but also gifts for YOURSELF.
Everything Is Not On Sale
Signs advertising sales will be posted everywhere we look from now through the beginning of the year. People might get the impression that now is a great time to buy because every thing is on sale, which is not tue.
All Sales Are Not Good Sales
Just because a sticker that says the word, â€œSaleâ€ on it is slapped on an item doesn’t mean it’s a good deal. Many retailers jack up the price of products leading up to the holiday season so they can drastically cut them and advertise they are on sale.
So what can a consumer do? The short answer is, do what you always do to make sure you get the most out of every dollar by asking yourself a few simple questions:
- Does this item provide value for the price?
- Was I planning to buy this item anyway?
- Does the item fit within my budget?
If the answer to any of these questions is, â€œNo,â€ then back on the shelf it goes.
My son fell into that shopping mania, and thought this would be a great time to buy himself a new headset, even though he already has a perfectly good one he bought less than six months ago. Had he went through with the purchase, he would have bought an expensive headset at full price simply because he was told this is the time of year to buy. Had he asked himself the three questions above, the answer to the first two questions would have been, â€œNo,â€ clearly showing that the headset would have been a bad purchase.
Armed with these questions, we can all be a little more ready to navigate the holiday shopping season.
How about you, Clever Friends? Have you ever been swept up in the holiday shopping mania and regretted a purchase?
Brought to you courtesy of Brock