Stacey Bumpus, personal finance and budget contributor for Go Banking Rates, understands how important Black Friday is to consumers hoping to save money during the holidays. But despite the excitement placed on this annual shopping holiday, all Black Friday deals are not great deals.
To educate consumers on the reality of cost deductions featured on Black Friday, Ms. Bumpus walks through common purchases that often result in consumers unknowingly overspending.
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"Retailers do a great job of creating flashy advertisements that make consumers believe every deal featured on Black Friday and over the following weekend is the one that can't be missed," says Ms. Bumpus. "But in actuality, many of the discounts offered, particularly on popular items like electronics, jewelry and toys, aren't much better than those found throughout the year."
With Black Friday rapidly approaching, retailers have already started sharing their lists of discounts. Now is a great time for consumers to begin planning purchases carefully to avoid spending more than necessary this holiday season.
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