Raven Cohen
Black Friday is over. Did you get everything you want? Many people had to say no to killer deals because they didn’t have enough money to buy them. Others bought them, however at checkout, they wondered how they would pay for them. Here are some tips you can do now to make sure next year‘s Black Friday is fantastic.
Auto Money Saving
Many employers offer to automatically take out a set amount of money every month from your paycheck. The money is yours and goes into a savings account. You can then use that money later on. This is a perfect way to save up money for the holidays or as an emergency fund. Even if your employer does not offer this, you can set it up by asking them to deposit most your paycheck in your checking account and some money into your savings account. Or you can have your bank automatically switch over money from your checking to your savings every month after you get paid. Talk with your bank or employer defined the best way to put aside money.
Store Credit Card
Many stores, including some online swords such as Amazon, offer a credit card. Typically they give you a discount on the day you sign up to sweeten the deal. The store cards are an excellent way for someone who has little or subpar credit. You have to be careful though, because these store cards will charge a higher percentage interest rate than standard credit cards. For some stores, they make a better margin from the credit card then the products they sell.
Layaway
Many stores offer layaway, a loan. You get what you want right away, then you pay back every month with interest. This is the way most people do their holiday shopping. However, you have to be careful with the length of the payments. Adding more months to pay back your purchases or decrease the monthly amount, but if the amount is over 12 months, you’ll be paying for this year’s holiday gifts next year instead of buying that year’s holiday gifts. That you pay back every month with interest. Make sure you can also afford the monthly payments.
Have Money for Black Friday and Holiday Shopping
- Set up a way to automatically save money through your employer or your bank.
- Sign up for a store card to get an instant discount and to cover the cost of the purchase.
- Ask the store if they offer Layaway.
