September 19, 2019

Plan Ahead & Get Set for 2019 Black Friday Deals!


So many families live paycheck to paycheck, which may be a necessity. They may only be able to afford the bare necessities, but other families live that way because they don't know how to budget or save. In this post I'm going to go over the importance of having a saving, but also in looking for the best deal when you really want to make a purchase or splurge.

When I was single I always had a savings for this and a savings for that, but I didn't really think long term because my expenses were limited. I didn't have a car payment b/c my car was old. I'm talking cassette player old. I never minded because while my friends were complaining about car payments, I was enjoying my old clunker and not worrying about payment deadlines. I had a cell phone bill, car insurance, minimal rent to my mom [yes, I lived at home], and clothing/food expenses.  It wasn't until I was married, a home owner and a parent that financial planning became more important, and looking for deals became a hobby of mine, and one I enjoyed quite a lot.


Now that we own a home there are repairs that need to be done, fairly frequently. On top of that there's the mortgage and home owner's insurance. My husband and I found that the only way we could have peace of mind was to save up an emergency fund and look for savings and deals when we could, and one of those bid deal days is Black Friday!


 We took a particular course on financial peace, and the FIRST step in this program was an emergency fund. Most financial planners will suggest you have AT LEAST 3 months worth of expenses saved up, but they encourage you to have more. Having an emergency fund gives you a sense of security and peace. Instead of thinking the world is coming to an end when you need a roof that costs X dollars, you can respond with "thankfully I have enough to cover it in my emergency fund, so I can still put food on the table this month." It gives you a completely different attitude when "emergencies" happen, and they will happen.

In my opinion emergency funds should be for just that: emergencies, but it's also good to have money saved up for foreseeable expenses like holiday shopping or birthdays or back to school shopping. The holidays are always a whirl for me, so it's easy to get caught up in the hustle and bustle of the holiday season and lose sight of the goals we've set. So when planning ahead for holiday shopping be sure to scope out the black friday deals. If there's a big ticket item you have your eye on; don't break the bank, but wait for a great deal. Oftentimes these great deals come on Black Friday or just prior to the holidays. So plan ahead, visit this site for black friday previews, and plan out your black friday shopping! 

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