Black Friday Financial Tips

Date:

Black Friday is upon us and the official kickoff of the holiday shopping season. Last year, Americans spent a whopping $57 billion during Thanksgiving weekend shopping.  And for many of them, it led to more debt, higher monthly credit card payments and financial ruin.

 

Steve Siebold, author of How Rich People Think, and a self-made multi-millionaire who has interviewed more than 1,200 of the world’s wealthiest people, offers this advice on not breaking the bank this year:

 

  •  Don’t fall for marketing campaigns that make you feel as if you’re getting a great deal when you’re really not (i.e. buy it today – pay for it tomorrow)

  • Allocate a certain amount of money for each person you plan on buying gifts for and don’t overspend by even a dollar.

  • Don’t even think of using a credit card unless you are 100% sure you can comfortably pay it off at the end of the month.

  • Don’t get caught up in the moment. If your shopping cart is overflowing, step back, regroup and make sure you can really afford everything you plan to purchase.

  • Kids learn by example. Even parents who have failed to reach their financial dreams can still teach their kids important lessons about money during the holiday season.

  • There’s no shame in telling people that this year will be a lean holiday season when it comes to exchanging gifts.

  • Ask yourself if you would rather have the short-term satisfaction of expensive material possessions, or the long-term results of financial freedom and abundance.

  • There are good deals to be had on Black Friday, but be mentally tough to know when enough is enough.

  • When it comes to spending this holiday season, leave your emotions on the shelf and let reason be your guide.

  • Limit charitable giving. Helping others is a nice gesture and certainly in the spirit of the holidays, but until you’re financially comfortable yourself, you can’t give what you don’t have. A little leftover change is one thing, but those who try and support every cause known to man but can’t afford to are doing more harm than good.

Get his book at www.howrichpeoplethinkbook.com

Lee Miller
Lee Miller was born in Denison, TX and grew up in East Texas with his family. He studied music education at Stephen F. Austin State University taking a job in television on his last day of student teaching. Lee also provides business authoritative expertise to the broadcast industry as a consultant. Presently he is CEO of MSG Resources LLC, which specializes in consulting within broadcast best practices, distribution technologies and media strategy mastery. - - - - - Lee Miller is a well-known veteran of the broadcast media industry with particular experience in leading for-profit and non-profit broadcasting organizations. His career began in Lufkin, Texas in the early 80’s where he progressed from studio operations to creative services and network management. Mr. Miller has since received various professional designations and memberships such as Society of Broadcast Engineers accredited frequency coordinator, The Energy Professionals Association Certified Energy Consultant, and National Religious Broadcasters Television Committee & past Chair. Lee also serves as the Executive Director of the Advanced Television Broadcasting Alliance, is a member of the Advanced Television Systems Committee and is proud to be part of Texas Association of Broadcasters Golden Mic Club, highlighting extraordinary careers in broadcasting. Continued engagement with his community is at the core of his business practices serving on the board of the Salvation Army and as keyboardist for the contemporary worship band at Harmony Hill Baptist Church. Lee lives near Lufkin Texas on one of his family’s tree farms located in the Texas Forest Country region north of Houston. He is married to Kenla and has two grown children, Joshua, COO of MSGPR Ltd Co and Morgan, a Critical Care ICU RN.

Share post:

Subscribe

Popular

More like this
Related

Governor Abbott Provides Update On Ongoing Response Efforts Following Hurricane Beryl

AUSTIN – Governor Greg Abbott announced today that Texas...

TxDOT Continues Cleanup After Beryl

LUFKIN – TxDOT crews in the Lufkin District began storm...

Stay Prepared: Texas Hurricane Readiness and Legislative Updates

Our region of Texas is all too familiar with...

Angelina College Weekly Update

Hey, sports fans, This past week saw the Roadrunner family...