Black Friday: should you be spending all that money?

Learn how to stay atop your spending in the festive season

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Black Friday is the biggest shopping event of the year; that is true. What is also true is that the emphasis on amassing stuff, which is a key feature of the period, hurts more than it benefits consumers. Research shows that 84.2 million people shopped in stores on Black Friday in 2019. It would surely be hard to believe that all of these shoppers had a need for the items they purchased or that they actually could afford them.

Another unwitting victim of this culture of consumerism is the environment. Recent research by National Geographic indicates that no less than 1.7 billion people now belong to the “consumer” class. These classes of individuals have the means to afford more things – food, cars, bigger houses, etc. – even when they don’t need those. All of these eventually end up adding more strain to environmental resources. The damage this has done to the ecology is better imagined.

While you may be able to do only so much regarding the environment, you can do much more for yourself. Here, we discuss books that teach you about money matters and how to be impervious to marketers’ antics this period. Do you want to know more? Dig in!

The No-Spend Challenge Guide: How to Stop Spending Money Impulsively, Pay off Debt Fast, & Make Your Finances Fit Your Dreams by Jen Smith

Reading this book is like taking advice from a straight-shooter. Jen Smith, the book’s author, was terrible at managing her personal finance. Mired in a $78 000 debt, she had to find a way to check her spending habits and come up from under the weight of the debts. She eventually did succeed. Hence, Smith brings all of the knowledge gathered from this experience to bear in this book.

Without mincing words, Smith lets you know that budgeting alone seldom works, especially with the culture of consumerism gripping the world today. She advocates for another strategy: the No-Spend Challenge. She provides practical insight, tips, and helpful advice that will prove invaluable for anyone struggling with their spending habits.

Another great perk is that this book is quite small. It is possible to finish it in one sitting.

The Financial Diet: A Total Beginner’s Guide to Getting Good with Money by Chelsea Fagan and Lauren Ver Hage (Design Author)

The Financial Diet gives you a crash course on everything in finance. This book covers every possible route, from identifying great investment paths to creating a great budget and even earning more money at your current job. What is more, you don’t even need to have any knowledge about finance to get started. Fagan uses clear and simple language to discuss even knotty issues.

As a plus, you get to meet no less than 20 industry leaders on the pages of the book. Fagan spoke to these exceptional individuals, getting their personal financial philosophies and detailing the same in the book. These folks will help you plan your future, making sure you do not slip along the way.

The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey

If you ever wondered if there was a gym where you could work on your financial fitness muscles, this book is it. With this book, Dave Ramsey teaches that there are no quick fixes when it comes to finances. He seems to ask:

“If you do not expect to have Cena-type muscles in just two weeks, how can you expect that miracle to happen in your finances?”

Thus you should expect to be stretched beyond your current limit.

One key thing that is obvious is that Ramsey detests consumerism and emphasizes the media has placed on it. He quips, “Do not keep up with the Joneses; they are broke.” In one swell swoop, he tackles the root of many terrible financial habits – a desire to “belong.” By this attempt, he also scores one for the environment. This is because, once individuals reduce their spending habits, the burden on the environment will also decrease.

Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together by Rachel Richards

This book will change the way you think about and relate to money. In this book, former financial advisor Rachel Richards teaches all you need to know about mindful consumption. She uses clear illustrations, including real-life examples from her personal life and career, to teach solid finance principles. She also throws in a bit of humor while at it. Even if your personal finance is in a sorry state, Richards teaches you how to get to freedom while giving you a few laughs in the process.

Money Master the Game – 7 Simple Steps to Financial Freedom by Tony Robbins

According to Forbes,

“If there were a Pulitzer Prize for investment books, this one would win, hands down”

A stretch? How about you read the book to find out?

One thing is sure, though: a lot of work went into this book. True to his nature, acclaimed author Tony Robbins takes the time to distill 7 age-worn principles that would certainly help you become more financially savvy. He teaches you how to take charge of your future, how to make investment plans that would yield the best returns, and, more importantly, offers useful, practical advice while at it.

You will undoubtedly be glad you read this book. The environment will be, too.

Black Friday is at the corner. The pressure, as we can see it, is already mounting. Insulate yourself from all of those by getting any of the books discussed above. You can get on the Headway Media app to read summaries of these books and other similar topics on this subject. 

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