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- Issue #043: How you’re not gonna go BROKE this Christmas!
Issue #043: How you’re not gonna go BROKE this Christmas!
Read Time: 2.8 mins
Read Time: 1.5 mins
Let’s cut to the chase… we all overspend around this time of year
BLACK FRIDAY
CHRISTMAS
IT’S COLD AND DARK OUTSIDE SO THE ONLY THING I CAN DO IS BUY STUFF…
So I’m gonna hit you with the quick one two… three four ways that you can implement to make sure you are not broke come January 1st.
Let’s dive in:
Make a list
That’s right, you are gonna write down all of the things you want to buy right now… 2 months before christmas!
Am I being a little bit over the top? I don’t think so.
You see, one of the ways that most people overspend around this time of year is simply by scrolling. This period of the year is filled with so many sales, and those companies have one target, to get you to spend spend spend!
If you have a list, you take back control of your spending, and won’t be brainwashed by those stupid timers that come up the screen making you panic buy because you think an offer is about to run out!
Remember, if you want to buy something and you find it for 50% off, you’ve SAVED half the price. BUT, if you buy something ONLY BECAUSE it’s 50% off, you’ve WASTED 100% - Martin Lewis
Track the price
Now that you have your list of things and stuff, it’s time to check out the price, again now whilst things are kinda normal.
Why?
Over the past few years, I’ve become quite synical of ‘sales’. I have noticed that these prices actually aren’t that good, and might have even been cheaper throughout the year.
In fact, Which? Revealed that 98% of Black Friday ‘deals’ aren’t the cheapest price of the year.
So Why does tracking the price work - simple, you’ll actually know whether or not the sale price is any good. simple.
Compare/discount codes/cashback
This one is simple. I beg you, please use discount codes, use google to compare if the site you’re using is actually the cheapest place, and try and use cashback sites so that YOU NEVER PAY THE FULL PRICE.
Thats it.
30 day rule
A lot of you are probably thinking that this email comes a little bit too early, surely I could have written it like the week before Black Friday or something like that.
BUT the reason It’s landing in your inbox NOW is because of a little something called the 30 day rule which states:
If you want to buy something, leave it in your basket for 30 days, because that is the perfect amount of time for you to figure out if you ACTUALLY really want that item, or whether it was just somethign you were TEMPTED to buy in the moment.
But how does this apply now?
Well, it’s exactly 36 days till Black Friday.
Over the next 6 days, write down everything that you want to buy on Black Friday (and over the Christmas period), and then just before Black Friday kicks off, take another look at that list and see if you still REALLY want it.
I guarantee you that quite a few things will fall off that list.
.
.
.
P.s. Might as well start giving you all gifts early this morning, how about a free share 👇
Let’s cut to the chase… we all tend to overspend around this time of year:
BLACK FRIDAY
CHRISTMAS
IT’S COLD AND DARK OUTSIDE SO THE ONLY THING I CAN DO IS BUY STUFF…
So, I’m going to hit you with a quick one-two (or actually, three-four) on ways to make sure you’re not broke by January 1st.
Let’s dive in:
1. Make a list 📝
That’s right, you’re going to write down all the things you want to buy right now… two months before Christmas!
Am I being a little over the top? I don’t think so.
One of the main ways people overspend at this time of year is by simply scrolling. This period is filled with sales, and companies have one target:
Get you to spend, spend, spend!
If you have a list, you take back control of your spending and won’t be fooled by those annoying countdown timers, pushing you to panic-buy because you think an offer is about to expire.
Remember: if you want to buy something and you find it 50% off, you’ve saved half the price. BUT, if you buy something only because it’s 50% off, you’ve wasted 100%.
(Thanks for that one again Martin Lewis)
2. Track the price 👀
Now that you’ve got your list, it’s time to check prices. Do this now, while things are still kind of normal.
Why?
Over the years, I’ve become pretty cynical about ‘sales’. I’ve noticed that many prices aren’t as good as they seem—sometimes things are even cheaper at other times of the year!
In fact, Which? revealed that 98% of Black Friday ‘deals’ aren’t the lowest prices of the year.
Tracking prices works because it helps you see if the sale price is actually a good deal. Simple.
3. Compare, use discount codes, and cashback 🤑
This one’s easy:
Compare prices. Use discount codes. Check if the site you’re on is truly the cheapest, and use cashback sites so you never pay full price.
That’s it.
4. The 30-day rule 📅
You might think this email is coming too early, like, shouldn’t I have sent this a week before Black Friday?
But, the reason it’s landing in your inbox now is because of a little trick called the 30-day rule:
If you want to buy something, leave it in your cart for 30 days. That’s enough time to decide if you really want the item or if it was just an impulse buy.
How does this apply right now?
Well, Black Friday is exactly 36 days away. Over the next six days, write down everything you want to buy for Black Friday (and Christmas), and then review the list just before the sales kick-off.
I guarantee you, some things will fall off that list!
P.S. Since it’s never too early for gifts, how about a free share? 👇
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So…
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 | Thank you once again for spending some of your time with me & reading Let’s Talk Money. Talk soon, Gabriel - That Money Guy |
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DISCLAIMER: None of the above is financial advice. This newsletter is strictly education and should not be taken as investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and always do your own research.