Overspending and grudge: some expert tips to get through Black Friday without wasting time and money

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The fintech company OctaFX has brought together several international financial experts and put together a list of the top 5 tips to make your Black Friday experience as smooth as possible.

The global broker OctaFX for one of the major annual events in the consumer economy – Black Friday. Since Forex brokers all over the world are in a festive mood for Black Friday, they have prepared many promotions and specials for their clients.

It stands to reason that OctaFX, with the help of some top financial advisers, has gone ahead and created a guide with five expert tips on how to get through the Black Friday season on the least. bumps possible on the road. The key principle is to prepare, plan and act by following a well-developed financial strategy.

Move your capital like chess pieces

That’s right. You need to strategically maneuver your funds so that the sums you’re willing to spend are available at the right time if you want to take advantage of those feverish Black Friday discounts. Also, like in Forex trading, you need to make an investment plan beforehand. The better you implement it, the more money you will have at your disposal, as the benefits would flow into the process midway through. These excess savings can then be used for other investments or withdrawn and spent.

The cost-benefit ratio of your purchased item also plays a role. “Always check other sites and compare item prices. I usually use Amazon to do this. Remember, only buy what you think you will use frequently over the next six months. Black Friday sales usually target an impulse buy because of the discounts, which might not even be a huge sale at all, ”says Vito Henjoto, founder and chief analyst at Zenifix.

“Analyze” is the name of the game

As mentioned above, a thorough preparation is vital. Pay attention to trends and markets. If you know your way around and look for the best discount deals, your edge over the competition will be significant. Always look for interesting products in the markets you are used to analyzing. Successful traders arrive in Forex well prepared and immediately distinguish themselves from traders who act out of pure luck and coincidence.

Regulate your emotions

Don’t let yourself fall into an impulse buying state. Saying “no” to items that weren’t originally on your shopping list is like sticking to a preconceived investment plan. If you take your time and pay attention to these emotions, you are less likely to succumb to impulsive movements that ultimately lead to loss. Phases like these can appear suddenly, due to the so-called “fear of missing something”. There will always be new opportunities to invest and buy.

Gero Azrul, author of the bestselling BBmastery The Game Changer, reinforces this point by advising:

‘Keep in mind. It’s a waiting game. You wait for the exact moment to make more profitable your expenses. So from now on save money, be patient, and have a clear picture of what you want. “Impulse buying” is a state of mind that should be avoided at all costs.

On the lookout for manipulations

Unsuspecting customers usually assume that any marketing campaign has only good intentions embedded in their offerings. Unfortunately, it is not the case. Bad guidance, and sometimes even outright fraud, is very much present during these seasons. You certainly don’t want to fall prey to it. Instead, investigate the reliability, security, and track record of those online sellers and organizations you engage with. Be sure to shop around for retail prices before the Black Friday sales.

“I myself participate in sales. The discount is important to justify more value to the customer. But as a customer, you need to be able to see the real value and the real discount and compare the two. Often, these are manipulated and exploited as sales tools “, reiterates Gera Azrul, speaker of the” International Trade Fair in Malaysia “.

So don’t take big discounts for granted, even during Black Friday. Do your research ahead of time and check the prices all the time instead of blindly clicking the “buy” button.

Get rid of the fear of spending

With your financial strategy in place, it’s time to let go of the fear – the fear of spending. Trust the time and intellectual work you put into developing this model of conduct and financial goals. Once this is secured, the spending process will have natural limits and even potentially new goals. One of these goals could prove that smart spending (similar to “investing” at this point) is likely to generate later income, perhaps even constant income in the medium to long term.

Preparation is fundamental. Best practices are expressed in a well-developed financial strategy. In fact, this is as true for the consumer economy as it is for Forex trading. This shot is like a rock in a rough sea if by “rough sea” we mean the utter chaos and opportunities that come with selling seasons such as Black Friday or times of strong market swings related to the forex field.

If you stick to your plan, your chances of success in achieving your goals will increase dramatically. Of course, the plan should be flexible enough to allow for adjustments if circumstances change in different directions.

Therefore, at the risk of sounding overly cautious or boring: Developing a Plan “B” and even a Plan “C” can help you profitably get through the Black Friday season and the like.

is a global brokerage that has been providing online trading services worldwide since 2011. It provides industry-leading trading experience to over 6.6 million trading accounts worldwide. In addition, the company is recognized for its promotions and high service standards.

OctaFX has won over 45 awards since its inception, including the 2020 Best ECN Broker Award from World Finance and most recently the 2021 “Best Forex Broker in Asia” award and the 2020 “Most Transparent Broker” award from Global Banking & Finance Review. and Forex Awards, respectively. The company is known for its social and charitable activity.

This story is provided by NewsView. will in no way be responsible for the content of this article. (ANI / NewsView)

(With entries from ANI)

Disclaimer: This article was posted automatically from an agency feed without any text changes and has not been reviewed by an editor

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