Here’s how to make the most of those big deals without compromising your financial security.
Black Friday is approaching, a blizzard of deals and discounts that can make even the most disciplined spender go a little wild. Still, while it’s only natural to want to bag a few bargains, we’ve got a few tips on how to get what you need at a great price without sacrificing your long-term financial goals.
Create a Black Friday budget
Before you even think about hitting "add to cart," create a battle plan by setting a budget. Decide exactly how much you can comfortably spend without dipping into your savings or emergency fund. You’ll also want to get familiar with the prices of things you’re wanting beforehand so you’ll know a good deal when you see one. Price comparison websites can be your secret weapon.
Stick to your list
What do you actually need? Don't get swayed by shiny objects or “one day only” offers for things you wouldn't normally buy. Remember, it’s only a deal if it’s something you’ve needed for a while and now you can get it at an incredible yet still affordable price. It’s not a “best buy” if it’s something you never knew you needed until you saw the reduced price tag or will put you into debt.
Allow the frenzy to cool off
If you can’t resist the urge to buy on impulse, give yourself some breathing room by ensuring your purchase can be returned. Allow that shiny new blender to sit on your kitchen counter - in its box - for a day or two. This way, you can let the Black Friday frenzy wear off and then decide with a cool head if you can’t live without it. If you realise it was an unnecessary purchase, send it back and get your refund.
Don’t forget the bigger picture
Life insurance might not be the most exciting Black Friday purchase, but it's undoubtedly one of the wisest. It's not about shopping for yourself; it's about providing a financial safety net for your loved ones, ensuring they're protected no matter what the future holds. It’s also a smart move to buy life insurance when you're young and healthy as this typically translates to lower premiums – it's like getting a built-in discount! Also, remember that funeral expenses and the cost of living continue to rise. Locking in a policy now can help protect against future inflation and ensure your loved ones aren't burdened with unexpected expenses.
MiWayLife makes life insurance affordable
Life insurance is much more affordable than you think. The cost will depend on several factors, including your age, health, and lifestyle. However, for most people, life insurance can be very affordable. At MiWayLife, it works like this - for a low monthly premium, you’ll be offered a set amount of coverage that’s paid out in a lump sum to your beneficiaries in the event of your passing. The cover under this benefit will grow by 5% each year. Our 4-in-1 policy also includes an accelerated funeral benefit, terminal illness benefit and funeral cover for you and your family members - all for one premium!
The bottom line
Black Friday encourages spending on material goods. Investing in life insurance and funeral cover is an investment in your family's future well-being. So, while a new TV or gaming console might be tempting, consider the lasting impact of securing your family's financial security. It might just be the most valuable purchase you make and can give you maximum peace of mind – and that’s priceless!
Did you know:
You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.
