It’s the most wonderful time of the year for online shoppers – Cyber Week. This annual event used to be relegated to Monday, but it’s since grown to encompass the entire week, with major e-retailers like Amazon.com and Wal-Mart offering discounts all the way through Friday.
The lure of online shopping is particularly intense during this event, since the process of purchasing something is almost pain-free – it’s literally just a click or two away – and the prices of the sale items seem so low. Amazon.com, for example, offers its Cyber Week promotions as “lightning deals” with different items going up for sale every 30 minutes. To get a real-time look at the power of these promotions, just go to Amazon’s site and watch the waitlist for each item fill up within 10 minutes of going on sale.
With all the scenes of Black Friday shoppers invading shopping malls over the weekend, it can be hard to remember that we’re still in a recession. But we are, and unemployment remains over ninepercent. During the holiday season, many Americans operate on the “buy now, pay later” mindset. But in today’s economy, there’s absolutely no guarantee that the income will be later to pay off credit card debt you incur from doing your shopping now.
So it may be tempting to just click-purchase an item because it looks like a good deal, but if your financial situation doesn’t allow for it, don’t do it! Regardless of how inexpensive an item is, it’s not a good deal if you can’t afford it.