Black Friday is hailed as the ultimate shopping holiday (and this year isn’t an exception, with holiday sales expected to grow over last year and reach over $980 billion).
But how much — if anything — are you actually saving? Retailers often inflate prices in the weeks leading up to Black Friday (by as much as 70 percent!), only to mark them down and create the illusion of a bargain.
This tactic tricks consumers into believing they’re snagging a deal when, in reality, they’re overpaying or buying items they don’t need. (Or both.) According to WalletHub’s 2023 Best Things to Buy on Black Friday report, 35% of items at major retailers offered no savings compared with their pre–Black Friday prices.
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The hidden costs of Black Friday
Beyond the questionable savings, Black Friday shopping comes with hidden costs that can take a toll on your time, energy, and relationships.
- Time waste: Many Black Friday shoppers spend hours online or in-store hunting for deals. That’s time that could be spent relaxing, enjoying hobbies, or connecting with loved ones around the holidays.
- Emotional stress: The chaos of crowded stores, parking lot battles, and endless checkout lines can lead to frustration and impulse purchases.
- Overspending: The average American spends $2,100 during the holiday season. A significant chunk of that budget often goes toward Black Friday purchases. But how many of those items will truly add value to your life?
Why a No-Spend Challenge on Black Friday is better
This year, consider skipping the Black Friday frenzy altogether. A No-Spend Challenge can help you reclaim your time, save money, and focus on what truly matters during the holiday season.
Here’s why joining the challenge is worth it:
1. You’ll save more than you think
The $2,100 average holiday spend includes gifts, decorations, and holiday experiences. By eliminating unnecessary Black Friday purchases, you could redirect some serious money toward meaningful goals — like saving for a trip, paying down debt, or building an emergency fund.
2. You’ll reclaim your time
Instead of spending hours chasing deals, why not invest that precious time in activities that bring joy and connection? Consider hosting a post-Thanksgiving brunch, going for a nature walk, or simply relaxing with a good book.
3. You’ll avoid regretful purchases
Ever bought something on Black Friday only to wonder, “Why did I even need this?” Impulse buys and buyer’s remorse go hand-in-hand. A No-Spend Challenge lets you sidestep that regret entirely.
How to participate in a No-Spend Challenge
Joining a No-Spend Challenge for Black Friday is simple, and it doesn’t mean you have to skip holiday shopping altogether. You can just shop later on in a more mindful, less pressured way. Here’s how to get started:
- Commit to spending zero: Make a promise to yourself that you won’t buy anything on Black Friday — no exceptions.
- Plan alternative activities: Replace shopping with meaningful experiences, like watching movies with family, starting a holiday DIY project, or volunteering.
- Make a holiday budget: Allocate your money to gifts, travel, and experiences that matter most. Avoid impulse buys by planning your purchases in advance.
Rethinking holiday spending
The No-Spend Challenge isn’t just about skipping one day of shopping; it’s about reframing your relationship with spending altogether. Ask yourself:
- Does this purchase align with my values?
- Will it bring long-term joy or satisfaction?
- Am I prioritizing savings and financial goals over short-term wants?
By focusing on spending more intentionally and mindfully, you’ll not only reduce holiday stress but also set yourself up for financial success in the year ahead.
