Black Friday, traditionally one of the most anticipated shopping dates, is seen by many as a great opportunity to buy desired products at lower prices. However, for those building a solid financial foundation and aiming to maximize each expense, it’s crucial to assess if it’s really worth waiting for this date. Are the discounts truly advantageous? How can you tell if you’re making a smart purchase or being misled? Below, we explore key points that can help with decision-making.

Black Friday: Is It Worth the Wait?

The primary appeal of Black Friday is to offer substantial discounts. For beginner investors, who are often focused on saving and investing wisely, this day can represent an opportunity to buy necessary items at lower prices, allowing you to allocate savings toward investments. However, there are a few important considerations:

1. Real Need for the Product: Before anything else, assess whether the product you’re considering is really necessary. Frequently, Black Friday triggers impulse buying. If you’re trying to build a solid financial foundation, purchasing something unnecessary may impact your budget. Plan to buy only what’s already on your priority list.
2. Advance Price Comparison: One effective strategy is to monitor the prices of desired items months before Black Friday. This can be done with price comparison apps or by visiting store websites. That way, you’ll know if the discount offered is truly worth it or if it’s just a regular price disguised as a sale. For those prioritizing financial control, Black Friday only makes sense if the price is genuinely lower.
3. Long-Term Purchases: Consider using Black Friday to buy high-value items, such as electronics and appliances, that you were already planning to purchase. These items tend to be more expensive, and promotional periods offer an opportunity for significant savings. The amount saved can then be directed toward an emergency fund or investments.

How to Tell If You’re Paying Less or Being Misled

The promise of deep discounts can be deceiving in some stores, which may use dishonest practices. Here’s how to identify if you’re paying a fair price or being misled:

1. Monitor Prices in Advance: The first step is to track the price history of the product you intend to buy. Many stores gradually increase prices before Black Friday, only to reduce them on the day to create the illusion of a discount. Tools like Google Shopping, Zoom, and Buscapé let you see how prices have evolved over time.
2. Be Skeptical of Extremely High Discounts: An aggressively high discount could indicate that the price was inflated beforehand. If a product has a “discount” of 70% or more, check if the original price actually matches the market value. Typically, real discounts range between 20% and 50%, depending on the product category.
3. Use Websites and Browser Extensions for Comparison: Some browser extensions, like Honey or Keepa, help track prices and compare them across stores. These resources help identify if the discount is genuine and prevent you from falling victim to misleading practices.
4. Review the Return and Warranty Policies: When buying during Black Friday, ensure that the store offers good return and warranty policies. Stores often offer limited return rights for products purchased at reduced prices. Also, for tech products or higher-value items, it’s essential to confirm that the warranty and support are equivalent to those of products purchased outside the promotional period.

Black Friday Advantages and Disadvantages

Black Friday can be both an advantageous opportunity and a potential pitfall for personal finances. Here are some main pros and cons.

Advantages

1. Opportunity for Planned Purchases: Black Friday offers a chance to save on items you already intended to buy. This can free up part of your budget for other financial goals, like investments.
2. Discounts on Long-Lasting Products: Items like appliances, electronics, and furniture may be more advantageous, as they tend to have high costs. Buying these products on sale represents real savings and can prevent future spending on short-term replacements.
3. Ease of Anticipating Holiday and Year-End Purchases: For those looking to save on year-end gifts, Black Friday is an excellent option. This way, you avoid paying more during the Christmas period, which usually has inflated prices due to high demand.
4. Discounts on Services: In addition to products, Black Friday also offers discounts on services like courses and streaming subscriptions. For those focused on financial and personal growth, investing in education can be a good use of this date.

Disadvantages

1. Impulse Buying Temptation: Black Friday promotions and heavy marketing encourage impulse buying, which can lead to debt, compromising financial plans and long-term goals.
2. Fake or Misleading Discounts: As mentioned, many stores inflate prices beforehand and apply discounts that aren’t genuine. Buyers end up paying the original amount, thinking they’ve scored a deal when, in fact, there was no discount.
3. Exchange and Warranty Limitations: Some stores have stricter exchange policies for products bought during Black Friday, making it difficult to return an item if unsatisfied. If the product doesn’t meet expectations or has defects, exchanging it may be more challenging.
4. Risk of Debt: The ease of credit and attractive promotions can encourage credit card use, which, without planning, can result in debt and high interest. For beginner investors, excessive debt can hinder investment plans and wealth-building efforts.

Strategies for Making Good Purchases on Black Friday

If you decide to take advantage of Black Friday, some practices can help ensure a good purchase without compromising your finances.

1. Plan and Set a Budget: Beforehand, make a list of what you need and how much you can spend. This list will help you avoid impulse purchases. For those focused on financial growth, sticking to a budget is essential.
2. Prefer Cash Payments: Whenever possible, opt to pay in cash. This way, you avoid accumulating debt and maintain financial control. Some stores even offer additional discounts for cash payments.
3. Avoid New Credit Cards to Get a Discount: Some stores offer discounts for new credit card sign-ups, but this can lead to debt and uncontrolled spending. Assess if getting a new card is really worth it.
4. Research the Store’s Reputation: Ensure that the store is reliable and has a good reputation, especially for online purchases.

Alternatives to Black Friday for Smart Savings

For beginner investors, saving and optimizing spending are essential, but Black Friday isn’t the only opportunity for good purchases. Here are some other ways to save, avoiding excessive consumerism and the trap of inflated promotions:

1. Take Advantage of Other Promotional Dates: Besides Black Friday, the retail market offers other opportunities, such as Cyber Monday, beginning-of-year sales, and seasonal events. These events sometimes present similar or even better discounts than Black Friday, especially when they’re related to stock clearance.
2. Shop After the Holiday Season: Seasonal items like decorations and appliances are often sold at great discounts after the holiday season, such as Christmas and New Year. If you don’t need the product immediately, waiting until after the festivities can result in significant savings.
3. Consider Secondhand Products: Instead of investing in new items on Black Friday, consider buying slightly used or refurbished products, especially in categories like electronics and appliances. Often, the savings are even greater than the discounts offered on Black Friday, with less impact on your budget.
4. Cashback and Rewards Programs: Using cashback apps or credit card rewards programs can provide extra savings. During Black Friday, many platforms increase cashback, which can enhance your savings and be an interesting alternative for planned purchases.
5. Practice Conscious Consumerism Year-Round: Smart shopping doesn’t have to be exclusive to Black Friday. By adopting conscious consumer practices throughout the year, you can save continuously, allowing yourself to buy only what’s necessary and avoid debt.

Black Friday and Financial Future: Reflection for Beginner Investors

For those just starting their financial education journey, it’s essential to understand that Black Friday is not a mandatory opportunity but a choice that should be evaluated carefully. By making informed decisions and avoiding impulsive consumption, you protect your budget and bring yourself closer to your long-term financial goals.

Additionally, reflecting on purchases and the purpose of each expense helps to create a positive financial pattern, prioritizing investment and wealth-building. A good practice is to think about your goals for the coming year: how do you want to use your money to achieve those goals? This reflection provides clarity on where to allocate resources and which purchases are truly worth it.

Final Tips for Tracking Finances During Black Friday

1. Record All Purchases: Even small purchases can add up. Keep track of everything you bought on Black Friday and calculate how much you saved (or overspent). This record allows you to see if consumption was truly beneficial or if it exceeded your budget.
2. Set Priorities and Focus on Goals: Keep your financial goals in mind when shopping. Ask yourself if the purchase aligns with what you really want to achieve. Purposeful shopping is a way to avoid letting promotions dictate your financial behavior.
3. Set Aside a Monthly Amount for Discretionary Spending

If Black Friday is important to you, why not set aside a small monthly amount for this date? This fund can ensure that, when promotion time arrives, you’ll have a prepared amount without compromising the rest of your budget.

Conclusion

Black Friday can be a good opportunity to save, but it requires careful planning and caution. For beginner investors, the ideal approach is to evaluate each purchase and avoid harming the budget or investment plans. Staying in control of personal finances is one of the most important steps to building a healthy financial future, and Black Friday can be advantageous when used wisely.

With planning and attention, Black Friday can offer benefits, like planned purchases at a discount, allowing you to stay focused on your financial progress. Financial education is continuous, and every decision—including purchases—should reflect your commitment to growth and financial security.