Don't Spend Money On Things You Don't Need This Black Friday
Today is Black Friday and there’s many irresistible discounts everywhere. It is probably the best time of the year to buy something you have been eyeing for a while or stock up on necessities and consumables (skincare anyone?).
However, unbeknownst to many, this one-day frenzy also creates a psychological effect known as the scarcity mentality. We are afraid to lose out on the too-good-to-miss deals and make purchase decisions much more loosely than normal. This can influence us to buy unnecessary stuff that we might not even give a second look on any other day.
Buying a $100 on a 20% discount is not saving you $20; it’s spending you $80! In the end, we spend more than we save.
So don’t be unconsciously led to waste your hard-earned money on things you don’t need, or already own too much of. Practise responsible consumerism; buy only what you need. Consider giving away or donating your stuff before buying new ones. That way, you prevent the clutter from piling up, freeing yourself from the burden of possessions, and in the process, help someone in greater need of your used items.
Adopt the “Buy Less, Buy Quality” motto - it’ll bring you more savings and happiness in the long run.