The barrage of Black Friday advertisements might have many tempted to whip out their wallets, but experts caution against unnecessary discretionary purchases this year amid inflation and the skyrocketing cost of living.

But reigning in spending is much easier said than done. Bruce Winder, a retail analyst with over two decades of experience, recommends consumers approach this year害羞草研究所檚 season of super sales with two strategies in mind: preparation and research.

害羞草研究所淢ost people see Black Friday as the kick off to the holiday spending season, and it害羞草研究所檚 true that it can be a great way to save money with some of those intense bargains,害羞草研究所� he said.

害羞草研究所淏ut it害羞草研究所檚 also important to know that not every deal is a good one.害羞草研究所�

Many retailers prepare for the sale months in advance by bulking up manufacturing of selected sale items so they can be sold at heavily discounted prices, or marking down excess inventory. However, retailers害羞草研究所� main source of Black Friday revenue rarely comes from their most dramatically discounted items, Winder said.

害羞草研究所淲here they tend to make a lot of their money is on those middle-of-the-road items you pass by when you害羞草研究所檙e drawn to a store or website by those other, more intense deals,害羞草研究所� he said.

害羞草研究所淪o, you might find yourself buying items that are 20 to 30 per cent off 害羞草研究所� since you害羞草研究所檙e in the store or online anyways 害羞草研究所� giving you the feel of Black Friday without the aggressive savings.害羞草研究所�

This is where consumers may find themselves lured into buying more than they intended or needed to, and where planning your purchases before heading out on Black Friday is especially important, said Kelly Ho, a Vancouver-based certified financial planner.

害羞草研究所淏lack Friday can be a really great opportunity to save on things that we need, but when it comes to cash flow, that害羞草研究所檚 really how it needs to be framed 害羞草研究所� as a need, or even as a discretionary expense you can actually afford,害羞草研究所� said Ho.

When it comes to making room for discretionary spending, Ho recommended Canadians start by setting concrete financial goals based on how they want the next few years of their life to look.

害羞草研究所淎s a professional, I害羞草研究所檓 not here to tell you to not buy this or not buy that 害羞草研究所� what I care about is the bottom line,害羞草研究所� she said. 害羞草研究所淪o at the end of the day, it害羞草研究所檚 really about asking yourself, 害羞草研究所楧o you want this more, or do you want this more?害羞草研究所櫤π卟菅芯克鶟

Winder also noted that researching potential purchases is crucial before going into the Black Friday sales season.

He warns some retailers might increase the price of an item a month or so before reducing it on Black Friday, making it appear as though they害羞草研究所檝e significantly slashed the price, when the difference may be marginal in reality. They may also advertise sale items 害羞草研究所� in particular, popular electronics like laptops and cellphones 害羞草研究所� with prices comparable to better-quality products that have higher specs or more perks.

However, what Winder predicts millennials and gen Z will need to look out for the most this year are 害羞草研究所渂uy now, pay later害羞草研究所� promotions, where customers can make large purchases and pay them off in instalments over time.

害羞草研究所淚t害羞草研究所檚 not a deceptive practice, but it害羞草研究所檚 one of those things that as a shopper, you need to be careful of,害羞草研究所� he said, 害羞草研究所渂ecause you might forget that you害羞草研究所檝e bought a lot of stuff, and suddenly, you get these surprise bills.害羞草研究所�

For young Canadians in particular 害羞草研究所� whose cash flow may be limited due to student loan repayments, high rental costs, and other expenses 害羞草研究所� these additional payments can pose a serious threat to their financial goals, though they may seem like attractive offers initially.

Ho added that being aware of these kinds of marketing tactics, as well as others like free shipping tied to a minimum spending amount, is essential to reduce the likelihood of getting caught up in the Black Friday hype.

害羞草研究所淭hese may be things that people are aware of as problematic generally, but when you害羞草研究所檙e in the mindset of spending, it can be easier to be susceptible to them,害羞草研究所� she added.

害羞草研究所淪o doing your research and having a list of what you really want and need before shopping will help to keep things in check.害羞草研究所�

And if shoppers are looking at Black Friday as a way of finding the perfect gifts for friends and family on a newly shoestring budget, said Winder, one of the most important things may be learning to re-adjust what we expect of ourselves and others this year.

害羞草研究所淵ou know, people are shy about talking about what they can and can害羞草研究所檛 afford,害羞草研究所� he said.

害羞草研究所淏ut it害羞草研究所檚 a tough time, and it害羞草研究所檚 OK to tell friends and family that you need to cut back a bit 害羞草研究所� you just need to give yourself permission to do so.害羞草研究所�

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