Record-Breaking Black Friday Sales
Black Friday sales hit a record $9.8 billion in online spending this year, according to Adobe Analytics. The shopping frenzy highlights both consumer enthusiasm and the risks of overspending.
The 50-30-20 Budgeting Rule
To keep your finances on track during these sales, adopt the “50-30-20” rule. Allocate 50% of your budget for essentials, 30% for discretionary spending (yes, even sales!), and 20% for savings or debt repayment. Use cashback apps or coupon codes to stretch your dollars further.
Combat Impulse Buying
Impulse buying is the silent killer of budgets. Creating a wish list before the sale begins can help you stick to what you need rather than succumbing to marketing traps. Remember, every dollar saved now can be invested or used for future goals.