Holiday Deals- Buy now, pay dearly?
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By Bromwich+Smith Staff | 629 words | Reading Time: 3 minutes and 29 seconds | Date: 2022/11/08
Black Friday. Those two words hold a lot of power for holiday shoppers. The term Black Friday has been used for decades to describe a variety of events. In the 1950’s it described workers calling in sick after Thanksgiving to have a four day weekend. In the 1980’s retailers used it to describe the day their bank accounts typically went into the black from the red. It wasn’t until the 1990’s that Black Friday started being used to describe what is now the biggest shopping day in the United States. Typically Canadians have shopped more after the holidays, with Large sales on December 26th- Boxing Day. Over the past decade, Canadians have warmed up to Black Friday, and the deals that come along with it.
You might notice your email inbox- and your mailbox filing up with flyers from what seems like every store you have ever shopped with and then some you have never heard of. All offering the best deals for electronics, the “must have” toys this year, or a variety of other items. While it can seem tempting to jump in and do all of your purchasing, its important to take a step back and think before you buy.
We recommend starting your holiday season off just like Santa Claus and make a list. Write down every person who need to purchase for, their wish list and your budget. Once you know how much you have to spend and can allocate a budget to each person you are able to see what fits into your holiday budget. That new television your teenager is begging for might fit into your budget after all.
Take the time to research what the items you are looking to buy cost Before the holiday sale price. Stores may have inflated the price to make the new sale price look really enticing, while in fact it may be the same price it was 6 months previously. Look at reviews for those big ticket items before you put them in your shopping cart. Often in anticipation of Black Friday, brands will release Black Friday exclusive items, which may be lower quality than their typical items. We have a feeling that shrinkflation may be noticeable this holiday season which is another reason research will help you out!
Holiday deals are not always ones to ignore. Items that have been on your Wish List may be on for extraordinary prices. Typically you will find items that expire, part of these sales. This can include fashion items like clothing and purses, as fashion retailers are often creating seasons in advance. While we are in winter weather, they are busing creating next falls looks. These enticing sales prices, may help those items you thought were out of your budget- look much more budget friendly. Many bigger priced items like electronics and cars will be included in Black Friday sales. Keep in mind before you buy, the new Luxury Sales Tax and Credit Card fees that may end out taking away from your Black Friday sales.
Retailers will often pressure shoppers that prices will not be this low again. Smart shoppers will see through that, and know that not only will Black Friday sales prices often last the entire week, but that Cyber Monday is right around the corner with more “online exclusive” sales prices and Amazon Prime days are popping up more frequently.
While the hecticness of Black Friday doesn’t hit Canadians the same way as it seems to in other parts of Nort America, we are just as excited to save money this holiday season. We may be shopping for the moved ones on our list or for ourselves but the sentiment is the same. By keeping an eye on the sales, doing our own research and not extending our budgets we can ensure our wallets remain happy long past the holiday season.
No matter what your financial story is, Bromwich+Smith has a number of debt relief strategies to help you regain control of your finances and get your life back on track. Reach out today for a free, confidential, no obligation consultation. Bromwich+Smith’s Debt Relief Specialists are available by phone at 1.855.884.9243, or request a call back at contact us page. We want to see you flourish!