It’s OK to sit out Black Friday this year | Personal finance

While that storm is brewing, throw in guilt. It’s a common feeling around holidays and can lead to overconsumption, says Alex Melkumian, a licensed marriage and family therapist and founder of the Financial Psychology Center in Los Angeles.

Say that once again you can not gather with the family, or that you can not afford the gifts your child wants.

Or maybe you do not feel so guilty – just bad for a number of reasons related or not to the pandemic and the stressful holiday season. It can be easy to use emotionally, rather than logically, in hopes of feeling better.

Often, Melkumian says, “Instead of feeling uncomfortable, we’d rather just patch it up with a patch to buy a little for ourselves.”

Make a plan and set rules

So for various reasons, you may be ready to overshop on Black Friday. With that in mind, try to remember that “bargain hunting” can often lead you to buy more things than you need, says Ryan Sterling, founder of Future You Wealth, a New York-based investment firm. He is also the author of “You Make Other People Rich: Save, Invest, and Spend with Intention.”


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