Resist Black Friday’s Siren Song
Marketers use psychological tricks to get you to break your budget, but you don’t have to give in.
Shop until you drop?
Photographer: Stephen Chernin/Getty ImagesThe December season of goodwill often turns into a January hangover of financial regret. As credit card debt soars , households should be ever-more determined to avoid overspending at the holidays. Armed with insights from behavioral economics, you can escape the giving season with a solid balance sheet.
The only way to beat the marketers is to see through their gimmicks: the bonus, the urgency, and the ease of purchase. Seeing those techniques for what they are can help shoppers avoid promotional sales like Black Friday ; make fewer online purchases; and put off buying things for themselves. Instead, create mutual accountability by enlisting family and friends to limit gift arms races.