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First before I write down my thoughts on this topic, I would like to say that if you are a billionaire or a millionaire, please skip this post as this isn’t for you. But if you are among the set of people that are still in the process of creating a stable income for yourself, then read on.

Black Friday is the Friday after thanksgiving while cyber Monday is the Monday after black Friday. These two days are usually characterized with massive discount in prices of products in several stores across the world. These discounts could even be as high as 90%.



During this black Friday, I made up my mind not to buy anything no matter how low the price went for and I advised everyone that came to me against it too.

Oh no, I am not the son of a billionaire, a millionaire or even a ‘thousandnaire’ so I am basically at the same level the average person reading this is. Maybe that is why I am very meticulous when it comes to money matters.



Why then am I against buying these products on these high discount days?

As a first rule of law to everyone that intends to become a millionaire tomorrow, you MUST learn to separate your NEEDS from your WANTS. (Notice the emphasis on the MUST)

What are needs and what are wants?

Needs are necessities while wants are desires. You must learn to satisfy to a large extent your needs before you consider your wants.

For example, someone’s present need may be N50, 000 capital for business, while his wants may be a Samsung Galaxy tablet which goes for N65, 000, but black Friday discounts it to N30, 000. If this man gets this Samsung galaxy tablet for N30, 000, the truth is he has cut down on the money for capital he needs for business. Now this N50, 000 business may have grown to a multi-million dollar company that would ensure he keeps buying Galaxy tabs for his workers at full price while his choice of the galaxy tab would keep removing from his pocket in terms of internet subscription.

Now the truth is the major reason why majority of people would buy products on these low discount days is not because these products are cheap, but mainly because they have no scale of preference in their spending.

The truth is in as much as you may think you are making big savings on buying a particular product on these low discount days, you are actually short-changing yourself if you do not prioritize your spending and keep buying wants instead of needs.

The usual slogan for black Friday and cyber Monday is
“Shop Till You drop”

But they never actually complete that statement. In my opinion, the complete true version should be
“Shop till you drop broke”

The black Friday shoppers would want to give a million excuses to justify their activities, two of which are:

Excuse 1: Oh I want to buy this product at this cheap price so that I would resell it at a higher price.

One rule of marketing states NEVER BUY A PRODUCT TO SELL WHEN YOU HAVEN’T GOTTEN A MARKET FOR IT. So think again if you want to buy that blackberry Playbook for N4, 500 and resell it for N15, 000 when you don’t yet have someone that is ready to buy it or a wholesaler you can easily dispose it and still make profit. Oh you may make a profit, but then you may also be shocked beyond reasonable doubt and you must have already used money that should be meant for more pressing needs to strike a wrong gamble.

...Read the excuse 2 and continue with the rest of the article here http://thebigcashblog.com/why-you-should-not-shop-on-black-friday-cyber-monday/

Dats not a genuine reason.

E no concern u..

This is the product of a malnourished thought process. Black Friday and Cyber Monday actually presents a good business opportunity to make a few quids. It is not compulsory that you must consume the items purchased. It could be resold at the standard price with profit made.

OP talks like one of these broke motivational speakers that only feed from the sale of their books to gullible sheeple

Discipline while shopping during such a period is key.Though the temptation to shop till u drop broke exist.

mulante:
This is the product of a malnourished thought process. Black Friday and Cyber Monday actually presents a good business opportunity to make a few quids. It is not compulsory that you must consume the items purchased. It could be resold at the standard price with profit made.
OP talks like one of these broke motivational speakers that only feed from the sale of their books to gullible sheeple

Hello Sir, Please read the full post here to get the true point of the author http://thebigcashblog.com/why-you-should-not-shop-on-black-friday-cyber-monday/

niger,which way forward!