Many people have started speeches with "Webster defines...", BUT, in spirit of discussing Cyber Monday, I will take a different route.
Wikipedia defines Cyber Monday as "...a marketing term for the Monday after Black Friday, the Friday following Thanksgiving in the United States, the term "Cyber Monday" was created by marketing companies to persuade people to shop online. The term made its debut on November 28, 2005 in a Shop.org press release entitled "'Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year".
But the real question is, ARE YOU TAKING ADVANTAGE OF IT?
There are a few reasons I believe in Cyber Monday over Black Friday.
1.) Most places offer free shipping.
***So it saves me money on gas.
2.) I don't have to deal with crowds.
***See "Violence" on the Black Friday Wikipedia page.
3.) I save a lot of my time.
***Showering, getting dressed, warming up the car, driving the car, waiting in line to get in, waiting in line to pay, traffic along the way.
4.) In my experience, the deals have been fairly comparable.
***I will be charting the price of different items from now until New Year's Day though to get an accurate assessment on this.
If you must get that thrill of Black Friday shopping, here are some tips I've stumbled across:
1.) Make a list. You don't need to check it twice to find out who's naughty or nice, but you do need to make a list.
2.) Determine the "Hot Items" on that list. If you main objective is to get a $200 flat screen, I would suggest that you avoid the crowds at Toys 'R Us in the morning and instead hit up Best Buy or Wal-Mart.
3.) Physically map out your driving. If you need to go to Toys 'R Us, Bed Bath and Beyond, Wal-Mart and the Apple Store, there's a right and wrong way to go about getting to all those places. "Previous Preparation Prevents Piss Poor Performance".
4.) If you have a smartphone, download apps that will help you save money. Here are a few that may help:
BuyVia, RedLaser, Amazon Price Check, ShopSavvy, Google Shopper, Smoopa
Some let you earn cash-back rewards, some let you buy directly from the app, some give you directions to better local deals.
5.) Fill up your gas tank. Gas stations aren't stupid, they know that there will be A LOT of people on the road this day. Which means a lot of miles driven, which means a lot of gas used. Fill up a few days before, or even have an extra gallon or two of gas in a can. Don't forget, when filling up with gas, use GasBuddy. It's a great, simple app that can save you hundreds of $'s.
If you are like me and would rather save time, aggravation and effort, here are some Cyber Monday tips:
1.) Open up a PayPal account for online retailers that only offer PayPal as payment for goods. It's simple, it's safe and can save you money.
2.) Know your credit card limits!!! As previously mentioned, you do NOT want to go above 35% balance to limit on any credit cards. If you're planning on spending $1,000+ in one day, make sure you use a card that has at least a $3,000 balance. GOOD DEALS ARE NOT WORTH MESSING UP CREDIT!
3.) Give your credit card issuer a quick call up and let them know your spending habits will not be the same in the coming days. A lot of online purchases in one small time frame looks fishy. You don't want to be shopping and find a great deal only to be sidetracked by calling up Chase with all others (that don't read this blog) that have a hold placed on their card for "fraudulent activity".
4.) BE CAREFUL OF PUBLIC WI-FI NETWORKS! It may seem like a good and convenient idea when you're taking a break for lunch after some early morning shopping. These networks are unsecured (which is how you can access them). That also means, anyone else can and it doesn't take Julian Assange to steal your information from a Panera Bread wifi site.
Whichever route you decide, make sure you make logical decisions to avoid wasting money, time, stress or even injury.
The items I mentioned I would be following for the next 11 weeks are listed with prices after tax for zip code 45377.
1.) 40" Samsung LED - UN40EH5300F
Best Buy - $471.82
Amazon - $424.24
Wal-Mart - $474.05
2.) 13.3" Apple MacBook Air MD761LL/A
Best Buy - $1,318.36
Amazon - $1,247.73
Wal-Mart - N/A
Apple - $1,393.18
3.) 11.6" Samsung Chromebook XE303C12-A01US
Best Buy - $266.43
Amazon - $258.72
Wal-Mart - $265.36
4.) 60" Vizio LED - M601d-A3R
Best Buy - $1,542.84
Amazon - $1,374.16
Wal-Mart - $1,547.58
I'm not am Amazon Sales Rep or anything, but I must say, Amazon really is:
.Also, here's a little trivia bonus, did you know the Amazon logo is intended to show you that they have everything from A to Z?
As always, I encourage you to contact me for a free personal financial analysis. Email me at davids@eqfin.com for information.
My lead pipe locks for the week are: Carolina to cover their 6 point spread against Tampa.
SF and JAC to go OVER their 41 point spread.
Record so far = 3-0
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