No cap, no matter how broke we are, something about splurging on a huge volume of heavily discounted items on a heavily commercial “holiday” like Black Friday Shopping Day, makes us feel accomplished, like we have snagged a bargain. This is true especially for students or newly graduates whose heads are full of dreams but also the tension of repaying student loans, paying bills and getting our lives together.
But in the process, we often drown in the Tsunami of sales and lose track of items and of course, money and the cycle continues. It’s crucial to understand not every discount that is masquerading as fabulous deals is as good as it looks. So, payd, your favourite financial management app, has come up with a list that has both items that are a total yes and also items that you should steer clear from during this Black Friday Shopping Holiday.
What TO Buy
1. Kitchen appliances
This is your sign to upgrade your kitchen and get that air fryer, or even a fancy instant pot. Deals on small kitchen appliances like blenders, toasters, coffee makers, electric skillet are through the roof, with some upto 75% off. Keep an eye on retailers like Walmart, Best Buys, Home Depot and Lowe’s to get the best deals.
Whether it’s your first time hosting a holiday dinner for friends or you just want to revamp your cupboards with new pots, pants and cookware, Black Friday is the perfect time to nab the best deals on these. Apart from your kitchen, stores like Hudson’s Bay and Bed, Bath and Beyond will offer discounted items for your bathroom and living room as well.
3. Wearable technology
You’d be lying if either “Getting in shape” or “Staying Fit” doesn’t make your New Year’s resolution for 2022. Best Buy and The Source will have a slew of deals on wearable techs like smartwatches and fitness trackers, with slashing prices by
4. Big electronics and Smart Home Appliances
Refrigerator and Washing Machine? Check. Smart Thermostat? Check. Nest Cam? Check. This Black Friday, look out for bone-chilling sales on electronics and smart home techs all across the electronics retailers.
5. Gaming consoles
Gaming Retailers understand the rising popularity of games and how the industry is growing exponentially. So, to boost sales and finish the year in black ( meaning in profit, hence the name- Black Friday), the stores offer doorbuster prices on accessories like consoles, headsets and the games themselves. Confused as to what to gift your gamer friend? You can never go wrong with PlayStation and/or Xbox. Combine that with store determined gift cards or games and voila, you have a highly sought-after gift.
This shopping holiday is the best time to stock up on your Spring and Summer Wardrobe. There’s also a saying that you can never have too many pairs of jeans. Visit stores, online or -in-person, and get yourself some nice pair of denims, tops, shirts and girls, why forget that cute, flowy instagrammable summer dress.
Why walk when you can run (we suggest, virtually) to your favourite stores and score the best deals on sneakers and athletic shoes? Whether you have to run at the gym or do grocery runs for that midnight snack craving, sneakers bought on Black Friday are hands down your best bet.
What NOT TO buy:
Referring to what was mentioned in the beginning, if you think some discounts are too good to be true, they most likely are. Below are the items that you may want to avoid buying during this Black Friday shopping holiday.
1. Fitness equipments
Contrary to popular belief, sales of fitness equipment are not run-of-the-mills during holiday season, especially on Black Friday, which not so surprisingly coincides with Winter. During this time, due to an abundance of motivation to turn our lives around and lack of outdoor activities to do so, the demand for treadmills, Peloton Bikes, and weight benches hikes surges, pulling the prices higher.
Best time to buy: Save yourself a lot of loss and invest in gym equipment in June, when there is an alternative to those i.e. outdoor activities. That is also when retailers would be motivated to move the inventory forward and design deals that are great for your bank account.
2. Luxury Items
Branded items like LV products or fossil watches, or even jewelry made of diamond, gold and other gems don’t really go on discount on Black Friday because of their luxurious nature. Even if they do, the discounts are not significant enough.
Best time to buy: The best time to purchase these kinds of items is right AFTER a major holiday i.e. Valentine’s Day, Father’s/Mother’s day and so on.
Yes, big electronics were mentioned in the Must-Buys, but laptops were kept out on purpose. An item like a Laptop, has versatile use unlike a laundry system or a refrigerator. Generally, on Black Friday, the laptops that go on HUGE sale are from cheap to non-branded companies. Although the prices are worth the consideration, the features and the quality of the products are always not up-to-the-mark.
Best time to buy: It is undoubtedly during the months of July-August, the official “back-to-school” season.
4. Winter apparel
Unless it’s an emergency and affordability is not a concern, it’s almost common sense not to invest in items that are gonna be used in the same season. Somewhat similar to fitness machines, winter apparels are not significantly discounted during this sale as it becomes more of a need, which jacks up the price, sometimes more than normal.
Best time to buy: The appropriate time would be late January to Mid February, because the stores put out huge sales to reduce last season’s clothes and display Spring clothing.
If you’re thinking of giving your bedroom a makeover or preparing early for a spring clean, the Holiday season , and especially the Black Friday Shopping hours is NOT the best time to do that. It is not until a couple of weeks after, that the retailers will be willing to slash the prices to clear the ‘old’ inventory.
Best Time to Buy: Wait until January to get your hands on high quality and tasteful Beddings, mattresses and duvets.
Okay, now that you know which items are worth your money and which are not, let’s talk about WHERE and HOW to shop. In the last couple of years, there has been a huge upward trend in online shopping, which was just exacerbated with the pandemic. Save yourself from crowds and a lot of waiting in queues, and shop online. You can use Chrome Extensions like Honey to redeem online promo codes for your purchases.
Hip Tip: Want that steal of a deal, but concerned about your finances? We understand. Download payd from Google Play or App Store on your phone and transfer the worry to us. Through using first-of-its-kind cardlinking technology, payd allows students and savers to easily upload their bank card, set their rounding goals, and earn rewards through cashbacks and roundups.
One last word of caution before diving deep into discounts: start early and have a game plan in place. That’s it, take full advantage of Black Friday 2021 Shopping spree without breaking your bank. Happy Shopping, everyone!