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Black Friday shopping – Bring your “A” game

It’s that time of year again where shoppers swarm malls and stores across North America in search for the best bargains on this year’s hottest gifts. As stores start advertising door-crasher sales, it’s easy to be attracted to great prices on big-ticket items – and get caught up in the emotion and chaos of the shopping spectacle. To avoid a black mark on your bank account, have a fun Black Friday experience by:

  • Only purchasing what is on your list. Don’t deviate!
  • Research and compare items online beforehand.  Customer reviews are a great way to know if the quality of the item makes the deep discount worth it.
  • Bring a friend. They can help you avoid making tempting purchases that put you over budget.
  • Commit to a time limit. Staying out longer than intended can only encourage additional purchases.

Beware the darker side of Black Friday

  • Avoid deferred payment options that offer attractive “Do not pay for 12 months” promotions, unless you know the balance will be paid off before you start to pay interest.  Ask about what administration fees are associated with these types of programs.
  • Remember to get the items on the list and not end up buying everything on your own Christmas list.
  • Remind yourself that just because it’s a great price, it doesn’t mean you need to buy it.  Stick to your list and your budget!
  • Keep track of your purchases as the holidays get closer to ensure you don’t buy additional gifts that put you over budget.

Be safe and have fun.  Budgets play an important role, especially during the holidays, in helping you stick with your financial plan. An Investors Group Consultant can show you how. Happy bargain hunting.

November 26, 2015

This column, written and published by Investors Group Financial Services Inc. (in Québec – a Financial Services Firm), and Investors Group Securities Inc. (in Québec, a firm in Financial Planning) presents general information only and is not a solicitation to buy or sell any investments. Contact your own advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.