Spending less isn’t saving: How to avoid the Black Friday trap

Thanksgiving is tomorrow here in the US. And while I’m so excited about all the food I’ll consume with friends and family, I can’t help but think about all the money that small business owners, like you and me, will spend on Black Friday and Cyber Monday after all the turkey settles.

black-friday-budget

OH THE SALES, DISCOUNTS AND DOOR-BUSTER PRICES.

It’s so tempting to pull the trigger when something is on sale.  I mean, who doesn’t want to save 60%? But are you still spending that 40% on something you actually need for your business? Spending less doesn’t mean you’re saving. You’re still spending money. It’s just less than the original full price.

WITHOUT A PLAN, BLACK FRIDAY CAN BE A TOTAL BUDGET KILLER EVEN WITH ALL THE DEALS.

So for the sake of your business and your wallet, let’s make a pact – only purchase things on sale that you need for your business or things that you’ve been wanting really bad that are in budget. <– That part is key!

While sales can be a great way to save money for your business, they can also make just about anything look like something that could be useful in your business at some point, just because it’s on sale. Don’t force it. Make a plan so you don’t fall into the trap of buying things you don’t need and wasting your hard earned cash.

TAKE ACTION

Download your Black Friday Budget Sheet here. Clear 30 minutes in your schedule today to download your budget sheet, make a list of the items you want, where you’ll buy it and how much it costs on sale. Total it all up and make sure this fits into your monthly budget plan. download-here Now that we have a plan to keep our pact, I hope you have an amazing Thanksgiving (if you’re in the US) and happy smart shopping on Black Friday and Cyber Monday!