How To Approach Holiday Sales As an Intelligent Consumer

shopping

Hi, Everyone!

Back on the blog ready to talk about a popular topic these days – holiday sales! I know that 99% of the time my topics revolve around stocks and investing. However, intelligent investing cannot happen without a clean slate from credit card debt and some good amount of savings. There are levels to this!

The mission of this post is to help you remain on track of your financial goals without letting consumerism blind you.

Whether is on Black Friday, CyberMonday, and everything in between; I understand that there are some pretty awesome sales out there and I also understand that you may even feel “foolish” not taking full advantage specially when it comes to things you might actually “need” (as oppose to just “wants”).

Trust me, I am keeping this all in mind.

I hope this post inspires you to approach sales in a way that is smart and keeps you from falling blindly into the oblivion of buying random things  just because there is a sale.

Here are three quick tips:

Make a conscious effort to ONLY buy the thing you actually NEED to buy – Take advantage of the deals, don’t let the deals take advantage of you.

I am from the camp that says that there is nothing wrong with buying, or better yet, investing in something if it’s an item you actually NEED and perhaps have gone without for a while because you couldn’t afford it or it was too expensive. Maybe is something that will improve your quality of life for the better or something related to your health, your finances, your education, your well being  – you know, important things.

Purses, shoes, jewelry, video games, dresses, brand name items, a new wardrobe, a new TV, etc. (you get the point) usually don’t fall into this category. Before putting something in your cart ask yourself – would I consider buying this item if it wasn’t on sale?

Take advantage of the deals, don’t let the deals take advantage of you.

Remember that the people benefiting the most from your purchases are the founders and CEOs of those companies and the shareholders.

This morning I woke up to the news that Jeff Bezos is back to being the #1 richest man on the planet. His wealth increased to $100 billion today thanks to holiday sales. While I admit that Jeff Bezos is hands down my favorite CEO and good for him for creating one of the most popular websites in the world – this just comes to show you that while millions of people are spending fortunes on Amazon (and similar sites) the fortune is being transferred to the owners of those businesses – including people that own the stock!

The good news is that nothing stoping you from also being an investor and benefiting from the wealth that is being created. You can also choose to be on the consumer side of things. You can be both. Remember you have choices. Use them wisely. Be strategic.

Note – I am not saying  to run and invest in these companies without a proper amount of research. Just trying to make a point of how investors benefit from consumerism!

Remember that you have choices – you can be a consumer, you can be an investor, you can be both.

DO NOT buy things you DON’T need with Money you don’t even have.

I shouldn’t have to tell you this because it might sound like common sense to many people but I still feel the need to include this on here. If your plan is or was to grab your maxed out – or almost maxed out – credit cards to go buy things simply because they are on sale; understand that the only thing you are doing is digging yourself into a deeper hole.

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I know this might sound like tough love but I would strongly suggest you stay away from malls or websites if you are already in deep debt and are working hard to get out of it. Keep your eyes on your own prize. Your financial well being.

Don’t let the sales take your eyes off your goal of financial independence. Your future self will thank you.

If your plan is or was to grab your already maxed out credit cards to go buy things simply because they are on sale – understand that the only thing you are doing is digging yourself into a deeper hole.

And that’s all for now! Feel free to share the post with someone you think can benefit from it and don’t forget to add your comments below or send me your questions or comments to girlsonthemoney@gmail.com.

Tell me – Are you being smart and strategic with your purchases this holiday season or avoiding it all together? Share below 🙂

Cheers to health & profits,

Mabel $

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2 thoughts on “How To Approach Holiday Sales As an Intelligent Consumer

  1. Asharee

    Great points and great advice! I was very frugal this year and I don’t have credit card debt. I made purchases that were absolute needs, versus my usual “gosh 30% off – that’s a steal, I’ll get that” and then I am in a big hole and gathered more “things” that I would eventually get around to using. I am a lot wiser in my decision-making these days.

    1. girlsonthemoney

      Thanks for sharing that! That’s awesome that you have changed your mindset when it comes approaching these deals. There is nothing wrong with a sale as long as we’re using it to our benefit getting things we actually need with money we actually have. That’s what I can smart shopping 🙂

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