5 Ways to Get Sale Savvy
Black Friday.
Small Biz Saturday.
Cyber Monday.
Giving Tuesday.
This is one of the biggest retail moments of the entire year. Businesses want your money, and they want it now.
We have a few tricks up our sleeves to help you focus on what really matters during this weekend: spending time with loved ones, feeling so full you can’t move and staying on track to meet your financial goals.
#1 BE WARY OF “CRAZY SALES”
All it takes to make a sale look like a sale is crossing out a number in black and replacing it with a smaller number in red. It’s not uncommon for retail businesses to hike up prices right before a holiday just so they can discount them back down—which means you’re not really getting a deal. You’re paying full price (or sometimes even more!) for something you might not have bought otherwise.
#2 SAME GOES FOR “TODAY ONLY”
We’re sure you’ve seen it: stores are now doing “Black Friday” - what's meant to be a one-day sale - ALL MONTH! If they can keep something on sale for 30 days, it probably isn’t that great of a deal (so don’t fall for it!).
#3 MAKE A PLAN
If there is something you really need (or have had your eye on), make a list and outline everything you want to get beforehand. Set a maximum price you’re willing to pay for each one (and this goes without saying, but make sure you have room in your spending plan for it!).
#4 REMEMBER YOUR VALUES
Factora Members get access to our Values Exercise, which helps you boil down the things that mean the most to you. If you don’t have access to this exercise, you can make a list on your own. Come back to your values list and ask yourself: does spending $225 at Nordstrom really align with my values of family, travel, self-improvement, nourishment, and love? If the answer is no, then head on down to #5...
#5 PAY YOURSELF INSTEAD
Last year, we challenged our community to a Black Friday challenge:
Add everything you’d want to buy to your cart.
Take note of the total. Then abandon cart.
Add that same total to your high-yield savings account. You could also donate a portion of that amount to a charity you love.
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