6 Black Friday Mistakes to Avoid in 2023
As the holiday season approaches, so do the biggest sale events of the year. Black Friday, in particular, brings remarkable offers and deals on a variety of products. As the discounts can seem too tempting to miss, shoppers may end up overspending or buying things they do not need. This is why planning ahead can help them make the most of the shopping season. So, here are a few mistakes to avoid on Black Friday:
Shopping without a plan
Usually considered the biggest shopping weekend of the year, Black Friday weekend is when most retailers announce unbeatable discounts, both online and offline. Here, one may be tempted to buy as many things as they can. Research suggests that more than 60% of shoppers feel pressure to shop during the holiday season. So, what can one do to avoid giving in to the temptation? The first step is planning ahead by setting a budget. This is the best way to avoid spending too much. Ideally, by October or November, one should have a clear idea regarding the money they can spend during the shopping season. Once one has a limit in mind, they can start by making a list of things they need to buy and how much money would each cost considering discounts. This can help one avoid overspending and adding clutter to their homes.
Overusing credit cards
Credit cards do make it easier to shop. But, here, the drawback is that one may overshoot their budget and end up not just overspending but also paying a hefty interest amount. This chips away at the bank balance significantly. Another mistake that one may make is applying for new credit cards for shopping, leading to a lower credit score. To avoid this, one can consider using cash or debit cards to make purchases.