What is Black Friday you might ask, It’s the day after thanksgiving, the kick off of the holiday shopping season, a day you will find great deals, and lots of people. If you have never done a black Friday before you will need to have a plan in place. You can’t control your job, investments or home value, however, you can control how you spend.
Therefore, before you hit the stores (you may already be out there by the time you read this), ask yourself the following questions:
Do I really need this? There’s a big difference between needs and wants. How to differentiate? Well, if you can’t afford to live without something, if it’s a means to helping you function in society, it’s a need. If you can shrug it off, it’s a want. If you don’t need it, don’t buy it!
Ask: If I buy this will it make my family better, smarter, or more prepared?
Can I even afford it? The old-school rule is true: If you can’t pay cash or pay your credit card off at the end of the month, YOU CAN’T AFFORD IT!
Ask: Can I pay the entire amount in cash?
Do I have an emergency fund established? In life you should expect the unexpected, and this is why you need an emergency fund. Financial emergencies can come in the form of a job loss, significant medical expenses, home or auto repairs or something you’ve never dreamed of. The last thing you want to do is be forced to rely on credit cards or a loan which could simply compound the problem. Most experts agree that you should keep between three and six months worth of your living expenses set aside in your emergency fund (3-6 months living expenses).
Do I have at least $2,500 in my emergency fund?
Am I using God’s tithe to shop? SELF-EXPLANATORY…No need to elaborate on this!
Have you given your 1st 10 percent to God?
Is it really worth the hassle? Thanksgiving means many things to different people but for most people, the holiday of Thanksgiving is synonymous with festive meals, parades, football, family and friends, and, of course, turkey. For many, it’s also about spending time together, catching up and enjoying one another’s company.
Relax & enjoy your family and friends!
Do you shop on Black Friday Pastor? I'd rather sleep late, and eat leftovers than deal with the crowd. It's also quite risque, not only because you might go through the hassle and find out the item you want is sold out, but also because of the people preying on the shoppers.
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I don't shop on Black Friday unless my wife wants something specific. Currently that hasn't happened in a very long time. We plan our purchases and pay for them in cash. Also, we shoot for quality pieces instead of chasing sales.
I'm like you: I'd rather chill at home w/my family, watch football or basketball, take a nap, & wake up & smash some leftovers. I'm totally in relaxation mode. Truthfully, I cannot understand how people would wake up early, stand in the cold, endure traffic & crowds just to save a few dollars on marked up goods. SMH…