From the course: Personal Finance Tips Weekly

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Black Friday: Savvy spending

Black Friday: Savvy spending

From the course: Personal Finance Tips Weekly

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Black Friday: Savvy spending

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- The phenomenon known as Black Friday started as a US shopping event. And it's now spreading to many countries around the world. On the last Friday in November stores open early, heavily discount a couple of door buster items, and encourage people to get their shopping done for the holiday season. Let's take a step back. Do you know why it's called 'Black Friday'? Well, traditionally big retailers would operate in the red all year round, that is, they were losing money. It was the pre-holiday sales that tipped 'em over into profitability or into the black. It's funny that a shopping holiday is named after an accounting term. But what does this mean to you? Well, for one, it's almost impossible to ignore the barrage of ads targeted right at you with things that you'd probably love to buy. So in order to not overspend on Black Friday what you need is a strategy. And this is one that actually serves you well year round. First, repeat after me, shopping is not entertainment. Shopping is…

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