By: Lorillia Brown-Phillips, The Money Mentor, Your Black World
It’s been reported on the news and all over the internet that retailers are expecting record breaking sales this year on Black Friday. Regardless of what some individuals may think about the current economic climate of this country. Buyers are still going to buy and retailers are still going to sale. If your one of those consumers who will be waiting anxiously the day after Thanksgiving, at midnight to take advantage of those door buster sales. Here are 5 tips that will prevent reckless overspending, to reduce the regret that you may feel later down the road.
1. Create a Budget- a budget will allow you to see on paper what income and expenses you currently have coming in, and what you expect to spend on Black Friday.
2. Plan your Trip – know what store you plan to go to before you leave home, to eliminate the temptation of store hopping.
3. Create a List – know what you’re going to buy, will you be shopping for yourself or others.
4. Use Cash – eliminate the use of the debit card, and plan to shop with just the cash you have on hand.
5. No Credit Cards – do not be lured into the applying for a store credit card to receive 10-15% off to lower your shopping bill; and do not use your own personal credit cards to go shopping as well.
About the Author:
Lorillia Brown-Phillips is a Financial Advisor and Author of “Jump Start Your Credit: How to Negotiate and Settled Your Debts in 10 Steps”, she can be reached at admin@brownassocllc.com or www.brownassocllc.com
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