Avoid Starting Your Holiday Shopping with Money You Don’t Have

Thanksgiving is approaching, followed by the notorious Black Friday. While many retailers have adapted by offering deals online alongside in-store promotions due to ongoing supply chain challenges, the abundance of discounted items might be less than usual. If you are determined to purchase items you desire and are willing to face the hustle and bustle of Black Friday, be prepared to physically visit the stores as some of the best deals might only be available in person. However, before diving into the shopping frenzy, ensure that you have the necessary funds in hand.

One frustrating aspect of Black Friday is that it occurs before many people receive their Christmas gifts or year-end bonuses. While these financial boosts are welcomed, it is vital to remember that their receipt depends entirely on the generosity and financial stability of the givers. There’s always a chance that someone who typically provides these bonuses and gifts may change their mind unexpectedly, whether due to unforeseen circumstances or personal reasons.

It is unwise to spend money that you have not yet received, even if you’ve been accustomed to receiving these bonuses regularly in the past. The risk of overspending on Black Friday purchases and then discovering that your anticipated bonus is delayed or canceled by the time Christmas arrives can be financially distressing. In such a scenario, you might need to absorb the additional expenses and feel regretful, potentially jeopardizing your financial stability. So, no matter how enticing the Black Friday deals may be, it’s crucial to exercise caution and practicality in your shopping and avoid exceeding your budget unless you have surplus income.