Tips from Tammy: Black Friday

(video transcript)

Regret

The financial planning app Self did a recent survey of 1300 US citizens, and it showed that 42% of them regretted their Black Friday purchases.

Of course they did!

Emergency Shopping

Emergency shopping is never a good idea, and it is a fact that we're all attracted to a sale, right? We want a deal; we want to get a great price on something.

But the question is, "What do you really need?" If you're not keeping track of this, chances are, you're going to be tempted to buy whatever is new and shiny and cheap on a sale day, including Black Friday.

How to Resist

So to prevent that urge from taking ahold of you. Try keeping a list of things that you really need. And I'm talking about big purchases here. In regards to clothing, think of the most expensive items — the real investment pieces — things that you only want to buy once in awhile.

And sure you can look at the sales that are happening, but if something's not already on your list; if you weren't already planning on buying it,
just don't do it regardless of how cheap it is.

Who's Benefiting?

Because the truth is, if that item can be sold for so much less than it originally was priced at, who's getting the short end of the stick, as we Americans like to say? And that's almost always the person who made your clothing, who made that item.

So really have a close look and be very disciplined about your spending on the supposedly great sales days, like Black Friday. And in the end just don't do it please.

Donate Instead

If you'd like to help change the dirty system, consider donating to Fashion Revolution, or your favorite NGO.

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