Black Friday and Holiday Season Shopping: How Not to Overspend
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What is the main topic discussed in this episode?
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Here's your money briefing for Friday, November 25th. I'm J.R.
How should I adjust my holiday shopping plan for higher inflation and interest rates?
Whalen for The Wall Street Journal. It's Black Friday, the unofficial start of the holiday shopping season. And while we're likely to be bombarded with offers, discounts, and deals over the next few weeks, that doesn't necessarily mean a workout for your wallet if you shop with a plan.
The best deals are deals on things that you plan to buy.
Which gift categories are least and most affected by inflation this season?
However, the way a lot of these deals are structured during Black Friday, they're designed to make you buy things that maybe you wouldn't have bought if that deal was not in front of you.
Coming up, Wall Street Journal personal finance reporter Imani Moise will be here with tips for making a list and checking it twice and knowing the real price of your holiday spending. That's after the break.
This podcast is brought to you by ReliaQuest. Cyber criminals are constantly attacking. They want your data.
Why can using retail credit cards during Black Friday cost you more?
They want your identity. They want your innovation. ReliaQuest fortifies your business with agentic defense, AI that detects, contains, and eliminates cyber threats in minutes. It helps your security team move faster at the work that matters most to protect the business now and delivers insights to help them predict what's next.
Are early Black Friday doorbuster sales worth rushing for this year?
ReliaQuest, agentic defense for the enterprise. Learn more at ReliaQuest.com. That's R-E-L-I-A-Q-U-E-S-T.com.
It's Black Friday, and while that normally means a day to shop till you drop, high inflation and rising interest rates might have a lot of Americans rethinking their shopping plans. So how can you shop for everyone on your list, but not overspend? Wall Street Journal personal finance reporter Imani Moise has been talking with some financial experts about that, and she's here with some tips. Hey, Imani, thanks very much for being with us.
Thanks for having me.
So Amani, this is the first holiday season since 2019 where a lot of people feel comfortable going to the mall in addition to doing some online shopping. But inflation is a lot higher this holiday season than it was last year.
Yes. And one of the things that that means is that the budgets that people are running in their minds might not be in line with what things currently cost today.
What practical tactics can I use to avoid impulse buys while shopping?
So that could lead to either not buying as many gifts as you thought you were going to buy or overspending. It's really important this year to have a plan for your holiday shopping, just to plan for higher prices and look for the categories where you're going to find the best deals. So, for example, categories like apparel or electronics haven't been as impacted by inflation, but you're probably going to spend more on travel or food related items.
And on top of that, interest rates are a lot higher and they're likely to keep climbing.
So that's why overspending or going over budget could be a little bit riskier this year because interest rates are so high. If you do rely on credit to complete your holiday shopping, it could mean just larger and larger interest payments. In fact, a lot of retailers tout their branded credit cards this time of year and you can get extra discounts if you sign up for the credit card.
How should I evaluate travel and vacation deals to avoid hidden costs?
But the thing to know is that those retail cards tend to have a higher interest rate than even a regular bank credit card. So according to a recent LendingTree report, the average on retail credit cards averaged 26.7% compared to 22% on non-retail cards.
But you know, Amani, whether you're in the mall or shopping online, it's pretty easy just to whip out that plastic.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:39
2
How should I adjust my holiday shopping plan for higher inflation and interest rates?
0:39–0:57
3
Which gift categories are least and most affected by inflation this season?
0:57–1:25
4
Why can using retail credit cards during Black Friday cost you more?
1:25–1:41
5
Are early Black Friday doorbuster sales worth rushing for this year?
1:41–2:38
6
What practical tactics can I use to avoid impulse buys while shopping?
2:38–3:25
7
How should I evaluate travel and vacation deals to avoid hidden costs?
3:25–4:02
8
What low-tech budgeting hacks can help me stick to my holiday spending limit?
4:02–8:34
Speakers
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