Remember that time you bought something on Black Friday only to realize weeks later that you didn’t even need it? This phenomenon is more common than it seems. “50 percent off” signs, email offers, and countdowns play on our emotions, leading us to believe we’re missing out on opportunities.
But, What would happen if, instead of focusing on what to buy, we focused on what we should avoid buying? In times of irresistible discounts, like Black Friday, financial self-control is more important than ever, and a curious trend has emerged: instead of creating a wish list, create a list of things that we are not going to buy because we don’t need them.
The art of saying no: the list of things you won’t buy
During events like Black Friday, consumption is not only encouraged, it is almost glorified. However, one of the best kept secrets to saving is not in taking advantage of the best offer, but in knowing how to avoid it. The list of things you will not buy is a powerful tool for this which, according to experts, is based on being clear about the following:
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Identify “deal magnets”: Think about products that you usually buy impulsively. Technology that you don’t need, clothes that you will only use once or kitchen gadgets that will end up forgotten. These “magnets” usually fill your cart and empty your account.
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The “before and after price” bias: Promotions play with our perception of value. A television that “cost” €1,000 and is now €600 is not necessarily a bargain if you don’t really need it.
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Create a prior list of real needs: Prioritize products that you have previously identified as important.
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Check prices in advance: Many offers are inflated to look like larger discounts. Compare prices before Black Friday.
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Rethink your financial goals: Reflect on how what you don’t spend can go into your savings or investments.
By planning what you are not going to buy, you are creating a personal filter that protects you from the advertising bombardment and prevents you from moving away from your financial goals.
Black Friday and the emotional side of shopping
Discount events like Black Friday not only activate our rational side, but also our emotional one. According to experts in consumer psychology, the feeling of urgency and the promise of scarcity (“limited” products) activate our primitive brain, which tends to prioritize immediate reward over long-term benefits.
- Establish a closed budget: Define how much you are willing to spend in total and do not exceed that limit.
- Apply the 24 hour rule: Before making a significant purchase, give yourself a day to think about it.
- Avoid physical and online stores that tempt you the most: If you know that a brand or platform seduces you easily, temporarily block its access or delete its applications from your mobile.
Far from being an event intended to “lose money”, Black Friday can be an opportunity to apply the “don’t buy” list strategy. This doesn’t mean giving up on taking advantage of deals on things you really need, but rather avoiding falling into marketing traps designed for impulsive spending.
Black Friday is a litmus test for our financial intelligence. Knowing what to avoid buying, identifying our weaknesses as consumers and prioritizing real needs can transform this date into a more conscious and less stressful experience. In a world where compulsive consumption is encouraged, Learning to say “no” can be the greatest act of financial independence.
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