It’s Time You Made Use of Black Friday

How to Make the Best Use of Black Friday?

This Friday we take a brief pause from “How to Make the Blended Family Work” in honor of Thanksgiving. We hope you had the best Thanksgiving Day possible. Enjoy this special day-after-Thanksgiving lesson.

I’ve always wanted to write a practical post on “Black Friday”.
Allow me to come clean about this. I’ve wanted to write about “Black Friday” for a long time. To get straight to it, here’s the question I ask myself and am now asking you. Why is it called “Black Friday?” It should be called “Red Friday.” It’s the day that a large number of individuals go into “the red” in their finances leading into the Christmas holiday season. “Black Friday” must take its name from the businesses that get out of “the red” and into “the black” financially at the expense of the consumers going “red”.

As you know, each year, I have set within my growth strategy how we might improve upon each area of our life. We live by a family plan. You should get one (here’s a link: familyplan.kerryaclark.com). Today, I feel like letting you in (just a little bit) on our strategy around this day. Let’s get to it.

How can you prepare for Black Friday?
How can I use “Black Friday” against those who for so long have turned it “red” financially for us? If retailers can use this day to make a profit and gain, we should be able to take advantage of it as well as individuals. Let me explain how this can be done. I understand that there are multiple ways and hopefully this gets some ideas started for you. At any rate, he’s our strategy.

1. Put it on your calendar; it’s so easy.
   Place a reminder or an event on your calendar for “Black Friday.” There’s no excuse missing this day. It comes at the same time every year. It’s the day after Thanksgiving and recently has started as early as Thanksgiving Day and sometimes sooner. I’m serious about placing it on your calendar, but I don’t mean the actual date. What I’d place on my calendar is a way to see it coming in enough time to do something about it. Your calendar is more than just a placeholder for events; it can be used to help you discipline your life. Place something on your calendar to help you prepare ahead of time for what’s coming.
2. Create a Christmas fund or a I-might-want-to-buy-something fund.
   Create a fund where you save up for spending. Most people are familiar with creating a Christmas savings. What I’m suggesting is a fund to use specifically for “Black Friday.” If you know ahead of time that your child wants that new smartphone go ahead and start saving up for it to make the purchase on or by “Black Friday.” I like having a list of items that I’ve set goals to save for. I have a goal for every expense I need to buy. Therefore all year, I’m saving for the goal. This is important when it comes to the next step.
3. Take advantage of sales.
   You know they’re coming, so use it to your advantage. When you don’t have money to buy, you can miss the sales. Look at it this way, if you’ve saved for a suit of clothing at the regular price and on “Black Friday” the suit of clothing is on sale. Use your saved funds and make the purchase. I love it when I have money leftover because a sale caused the price to fall in my favor and I was “prepared for it.” This is my main motivation for making “Black Friday” purchases. Also, when you have funds saved, you’re not in a hurry to buy. You have the money anyway. I think you get it. Now for the last point.
4. Write down your lessons learned.
   Pamela and I, years ago, decided against going out to buy anything, but rather get them online, let them come to the house, and save our “Black Friday” for a day to relax after a long Thanksgiving Day. When you’ve made preparations, then you not only can save money, but you can save you time. Listen to this. You’ve heard it said that “time is money.” Why not save them both since time and money are quite valuable? What lessons did you learn last “Black Friday” that you use to make the best of this one?

This may not have been the best lesson we’ve offered, but I hope it helps you think about this Friday in a different way.

Today is Friday, Black Friday!

What will you do today that’s working to your benefit and not your detriment? Review the four steps presented above in our strategy to create your own: use your calendar, save for your goals, let sales give you an advantage, and take note of any lessons learned you can from this “Black Friday.” Turn your Black Friday from consumer red to consumer black.

Question: how can you change your Black Friday from a “red” Friday financially into a “black” Friday financially?

We hope this has helped you, added a little value, and given you something to really think about. We also hope you had the best Thanksgiving possible. Until next Friday, remember your life is your business. We will pick back up with our theme of “How to Make the Blended Family Work“.

The Family Plan Binder is available now!

Our team has worked very hard putting it together. We designed it to help you and your family move the needle forward in making your life your business. Find out more about the Family plan here.