Posted By Just in time for Black Friday, we’re pleased to present this timely blog from Danielle Kubes, the blogger behind the Pretty Little Poor Girl blog. You can also find the piece at her site here. Love that slogan: “Because financial literacy is hot.” With Danielle’s permission we’re running it below at the Hub too, and we hope to run more pieces in the future.
By Danielle Kubes
Special to the Financial Independence Hub
I only really shop three times a year:
▪ August sales
▪ January sales
▪ Black Friday
It’s a waste of money to buy anything any other time a year. I’m allergic to paying full retail-price for anything so I save up all my money to buy clothes and shoes on sale. And almost everything WILL go on sale eventually.
And by sale, I mean REAL sales. Not those “fake sales,” which are popular with American stores like Bath and Body Works, Ann Taylor and Express. Literally every time I walk into their stores there is “30%” off sweaters, Buy 2 body lotions get 2 free etc.,
If there is ALWAYS a sale, that “sale” price is just the TRUE price.
Which I why I wait until there are legit sales, like when they actually want to move merchandise. Those three time periods are the only time that really happens.
Notes
▪ Often Black Friday is NOT the cheapest time to buy things, but it can be if you need something before January, like Christmas gifts, or there is something you need/desperately want that you legitimately feel might be gone by January sales
▪ It’s important to figure out whether further discounts will be applied on Boxing Day, or later in January. This comes with a few years experience shopping sales. I suggest writing down the discounts available this year, so you know what to expect more for next year. They are usually quite similar year-to-year
▪ A week before Black Friday there are usually sales. DO NOT FALL FOR THIS.
▪ For example, this week everything at Old Navy is 30% off. But it will be 50% off on Black Friday.
▪ Ask the salespeople what sorts of sales they will be having Black Friday. Some stores in Canada, especially the Canadians one don’t participate. For these sales you’ll have to wait until after boxing day. But American stores do Black Friday amazingly
▪ In Toronto, I’ve noticed recent American imports Express, Ann Taylor/Loft and JCrew can have amazing Black Friday sales. Don’t bother with Artizia. The best time to shop at Aritzia is in late August and late January. GOLDEN TIP
Danielle Kubes is a freelance journalist in Toronto. She believes in a balanced attitude toward financial independence. What would her weekends be without brunch? Sad and lonely. But you can also find her hand-washing clothes to save a few bucks at the laundromat.
Thanks for these tips Danielle. Planning does save money.
We tend to buy when we need things. Since retailers sell year-round, there are often sales at any given time. Buying online from the US is another way to find more selection and possibly better prices even after shipping/duty costs.
When growing up, Boxing Day was the big event for items which rarely went on sale. For instance, imports at Sam The Record Man.
Black Friday is new to Canada. We avoid the crowds by not shopping!