Is That Black Friday Purchase worth it?

As many of us get geared up for Black Friday and the “incredible” deals the day offers we must ask ourselves: “Is this purchase something I truly need?”.

Take an investing look at a discretionary purchase you make this weekend.

For every $1.00 you spend today, you are potentially costing yourself an additional $10 in 30 years.  For example, say you were to purchase a new TV on sale for $500.  If you were to instead take that $500 and invest it in a retirement account or a brokerage account (and let the magic of compound interest take hold) it could be worth a whopping $5000 in 30 years!  This assumes that you put the money into a portfolio returning 8% annually and allows the dividends to reinvest.

So before you jump the gun on an impulse purchase this holiday season ask yourself: “Is this dollar I’m spending now really worth the ten dollars it could be in 30 years?”

The choice is yours.  Budget smart and invest wise!

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