Do we need to talk about Black Friday?

Do we need to talk about Black Friday or do you have it under control? Let's talk anyway.

Studies show the average American household with kids under the age of 18 will spend $276 per child. Pause.

Now, whether you have children or not, I want you to think about this -

Consumers spend to have more.

Investors spend to make more.

It simply is not financially prudent to spend a lot of money on things that lose value. Let's look at this example. I calculated this a couple of years ago.

(2019) - With $1,000 in 2007, you could have either bought 2 iPhones or $39.14 shares of Apple stock. Today, your stock would be worth $6,989. Today, 1 iPhone costs $1,000.

Here are a few other things to think about- It costs $59 to manufacture a pair of Air Pods Max that sell for $479.- It costs $16.25 to manufacture a pair of Air Jordans.- It has been reported that a handful of conglomerates are selling handbags marked up by as much as 20 times what they cost to make. That means, a $1,000 handbag costs $50 to manufacture.- Lastly, it is reported that models sold on Black Friday are often of lower quality than the models sold throughout the year.

My point in sharing this is not to turn you into the Grinch this holiday season but to nudge you to remember your financial goals. Exactly, who are you making rich, you or them? With today's inflation and high prices, it is a good time to align with your values and lean towards making great memories.
Happy Holidays!