Black Friday or Black Fraude? Your 2024 Survival Guide
2024 me hits different. After paying off $20,000 worth of credit card debt, I have completely changed the way I manage my money, and Black Friday to me is now like going to the store with my mom – you gotta have a strategy! And with good reason – the average American plans to spend $875 during Black Friday weekend according to National Retail Federation, while battling those FOMO flash sales hitting up your inbox faster than family members asking ‘¿y el novio?’ and “limited time offers” that are somehow more endless than a telenovela series. However, your money comadre is here to spill the tea on how to shop smart this season ✨”
Black Friday By The Numbers
Before we dive into the tips, let’s see what we’re dealing with:
- 77% of consumers say inflation will impact their holiday shopping [Deloitte]
- 60% of “deals” were actually cheaper at other times of the year [Which?]
- Average Black Friday discount is actually only 24% [BlackFriday.com]
1. Start Stacking, Stop Stressing
Whether you’re buying for yourself or blessing your familia with gifts, Black Friday sneaks up fast. Instead of letting those last few paychecks of the year carry all the carga, set up a year-round holiday fund. Using SUMA’s custom savings goals feature (cough cough), you can automatically set aside a little each month. Think about it: saving just $73 monthly hits different than scrambling to find $875 in November!
2. Say “No Gracias” To Store Credit Cards
Those flashy “Save 20% on your purchase today!” offers at checkout are like eating street tacos – tempting but risky. It’s giving red flag energy for a reason: store cards hit you with APRs around 30% (almost double regular credit cards), and some stores even jack up prices before applying that “special discount.” Store credit cards can typically only be used at their specific retailer, limiting their usefulness compared to general-purpose credit cards.
3. Make a List, Check it Twice, Don’t Let FOMO Get You
Impulse buying during Black Friday is like grocery shopping when you’re hungry – everything looks good! Make your lista before the sales hit and stick to it. See something that wasn’t on your list? Give it the 24-hour rule – if you’re still thinking about it tomorrow like you think about your ex, then maybe consider it.
4. Check Those Subscriptions Like You Check The Fridge
Before you go all out on new purchases, audit those subscriptions! Companies often drop their annual rates during Black Friday. Let’s do the math: switching your Netflix plan during their Black Friday sale ($99/year vs $14.99/month) saves you $80.88 – that’s enough for an oil change! Check all your subscriptions: streaming, gym memberships, software… you might find more savings than your mom finds things to critique!
5. Quality> Quantity
Just because something’s 70% off doesn’t mean it’s a good deal if it breaks faster than your New Year’s resolutions. Think with high standards: sometimes it’s better to invest in one good piece than three cheaper ones. That $200 quality coffee maker that’ll last years? Better than buying a $50 one every Black Friday like your tío buys lottery tickets.
The Ultimate Truth About Black Friday
Here’s the tea your TikTok feed won’t tell you: Black Friday isn’t a mandatory spending holiday! Those “exclusive deals” come around more often than your tía’s matchmaking attempts. It’s perfectly okay to sit this one out if nothing aligns with your financial goals – your bank account will thank you. Remember: the best deal isn’t 50% off – it’s being 100% confident in your money moves!
