Black Friday’s Biggest Myth
I am going to cut directly to the chase….
Black Friday’s Biggest Myth: YOU SAVED MONEY
I really did not intend for my first blog entry in months to be such a killjoy. It really was not my intent to make anyone feel remorseful for the precious time spent standing in lines waiting…anticipating and sometimes salivating over the impending Black Friday deal of the year. I mean…I completely understand the adrenaline rush of feeling as if you just got one over on the retailers with a fabulous deal. But the reality is…they got one over on you. Lets look at the “DEAL” in your Black Friday purchase.
Here is one example: (Stick with me because this isn’t going to take long…)
FACT #1: The majority of purchases on Black Friday are usually items that the purchaser would not normally buy if there were not a sale. Translation: The purchase is a WANT and not a NEED.
FACT #2: So the #1 purchase item for most Black Friday warriors was in the electronic department. The flat screen TV’s, laptops and entertainment systems were the buys of the night.
FACT #3: A 40′in television at the major retailers averaged $375 on Black Friday. (Target had a 46′in for $300) This is the cost BEFORE taxes, warranties etc etc
FACT #4: The regular price of these same items before Black Friday averaged about $475. So lets just even it all out and say that it is fair to say it appears that you saved about $100 on this purchase…PRETTY GOOD……?
FACT #5: If your TV is not replacing another television in your home, that means you will need another cable hook-up installed in your home. That factors into another (at least) $20 a month on your cable bill. Well damn…that deal is already gone…that means you are spending $240 a year…man that means that you are actually $140 in the hole as opposed to saving $100.
FACT #6: So lets assume your great buy IS replacing another television (and you don’t need the new cable hook-up)…then perhaps you have saved $100. BUT what else did you buy when you got the the store that you had NO PLANS to purchase? If it came anywhere near $100, then once again..they got you.
So let me say this much…your Black Friday escapade was not all for not. I am certain there were many who took advantage of some really great deals. (I am an admitted victim of Carson’s Community Day sales.)
Let me just put this on your mind. Many of the same folks who support the Occupy Wallstreet/Chicago and every major city Movement (you know the one…the one that protests Big Bank practices, irresponsible spending of government etc etc etc) think about what your Black Friday spending represents.
Are we reinforcing what the creditors and banks are using as their excuses for imposing unnecessary fees and fines on us? Did we just give the banks another excuse to not lend to us for home purchases? Are we saying..once again..we are impulsive, irresponsible, unaware and doomed to make the same mistakes of the 2008 crash?
I dunno…but in the meantime…..I was getting my money’s worth by eating my left-over Thanksgiving goodness!!!
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