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Intentional Black Friday Shopping


Welcome back to the blog,


In this season of festivities, it is always a good idea to ensure that you are organized. The latter part of the year is full of activity. Once the final quarter of the year arrives, it's a whirlwind of activity, and if you're not careful you can lose track of various things, inclusive of your budget. Here are a few tips that will help you to ensure that you gracefully transition through the holidays in a stress-free way.


PLAN FOR THE HOLIDAYS FROM THE YEAR BEFORE


Life is a continuum. Every twelve months is the Christmas Season. Knowing the type of holiday that you envision, it is a good idea to plan for the holiday in advance. The Christmas holidays are filled with merriment, and at the same time, they can be filled with expenditure. By setting a budget for the year, and then dividing the Christmas budget into 11 months, you won't feel financially burdened when the occasion actually occurs.


In various banking systems, you have the option to create accounts in your accounts that can have multiple functions. Create an account linked to your primary account that is for savings for events like Christmas and even birthdays.


UTILIZE BUSINESS ACTIVITIES TO PAY FOR YOUR EXPENDITURES


The harder you work for your money, is the more you will want to keep it and make it work for you. A job is an activity that requires your personal time in order for you to earn a salary. For that reason, you will want to keep as much of your money as possible. Create your budget, and ensure that you are living from the 80-90% of the budget. Save first, and then start spending.


If you want to discipline yourself to not spend from your earnings, one of the things that you can do is start a part time business in order to earn extra money. Various freelancing websites will enable you to earn money that you can then utilize as your disposable income for shopping. Five hours a week spent as someone's digital assistant, can actually take you and your family on vacation in six months or even fund an amazing Christmas...a year from now.


BUY WHAT YOU NEED


In Economics, one of the key things that we all learn, is the idea of needs versus wants. Yes, you will need bath mats and a shower curtain in your home. Do you really need a big screen TV or do you really need all that make up or to have a cup of Starbucks coffee every day? All of these things do add up, so if you're careful and track your expenditure, you will have a good idea of where all your money is going. What gets measured, will get managed.


COUPON/BARGAIN HUNT WHERE YOU CAN


This Black Friday when I went shopping...it was my lucky day. I was looking for home related items...and as I deliberated over whether the curtains matched my home decor...one of the attendees nudged me and said..."You know...if you cash before 10 am...you'll get an additional 10% off the existing sales price." All in all I ended up receiving a discount of 25% on the item. Thankfully...I'd been saving up and wanting this item for a good while. It was a win win for all of us.


USE CASH


One of the best ways to lose track of your expenses is to go over budget. Credit cards make it easy for you to do this. To limit yourself, you can withdraw a certain amount of cash for the year, and keep it in envelopes. I keep about $80.00 cash on hand for the month. With $20.00 float...when I see something that I may want, I will use that cash and limit myself to that amount. Anything beyond that, I will roll over into the next month and utilize the new budget to cover that cost.


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This year I only purchased three items for the Black Friday shopping season. The reason is not because I don't love to shop. It's because it was what I needed for the interim. Next year I will go through the exercise again...and mindfully identify what I believe will work best for me and for my household.


With each year, you want to mature, and understanding the workings of the world...you'll be better able to manage your money, and still acquire all the things that you will want.



While you're at it...take the time to explore. The less time you spend worrying about things you can't control...is the happier that you will be.


I love you for reading!!


XOXO

**Dr T**

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