Best Black Friday Deal/Sale Ever!

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With all the Black Friday deals, its hard to know what is the best bargain. I show you how to get 10X more for your money during these sales! America goes into a spending frenzy on Black Friday with all the sales and deals.  Savings are incredible but you have to choose wisely and I am going to tell you how to get the most bang for your buck.  What I am about to tell you will make your black friday dollars buy 10X or 100X as much.

The Average American has $10,955 in credit card debt.  Some have single digit interest rates but many are paying the max allowable interest rate allowed by law which is 21%.  So here is how you buy 10X or 100X as much for your money on Black Friday – its called “delayed gratification” and here is how it works.  Lets say you have $2000 in credit card debt and there is an awesome $5000 sofa sectional on sale for $2000.  Insted of buying that black friday bargain you take that money and pay off your $2000 credit card debt insted.  Lets look at the one year difference this makes.

If you buy the bargain, you now have an awesome sofa but $4000 in credit card debt on which you waste $840 per month interest payments to the bank which you did not have so now you are $4840 in debt.

If instead of buying the bargain sofa you pay off the credit card debt, not only do you now have NO DEBT but you were able to put $840 into your savings account.

In one single year you are $5680 better off financially by simply avoiding that one “incredible bargain” you could not afford.  At 21% interest, buying things you cannot afford quickly leads to financial ruin.

You say that the $840 you saved in interest is no big deal.   Checkout this online calculator for figuring out how much you will have.  For example, say over the last 10 years you avoided the black Friday sales and instead saved that money into the stock market.   $1000 a year invested for 10 years would have given you $11,000

So please, if you have any credit card debt at all do the following.

  1. Shop online for the best bargains and make a list of everything you want to buy.
  2. Total your proposed purchases and write your credit card company a check for this amount to buy down your debt.
  3. If you dont have credit card debt then start investing it to use the magic of compound interest!