Black Friday is almost literally just around the corner, the most important shopping day of the year for a lot of us. Some stock up for Christmas, some for Easter and some just stock up because well, 50 percent off a toaster is definitely worth it. But due to the negative connotations Black Friday has attained, deriving from the endless injuries and even deaths that have occurred during this “special event”, millions have been boycotting it, raising awareness about the collective “survival of the fittest”/crazy mentality that goes on during Black Fridays peak-hours.
But Black Friday can be beneficial to all of us, wether we only got our hands on a frying-pan or made a huge deal on a PS4, we can all collectively benefit, and here is how. At Business Insider’s IGNITION conference a few years ago, Cuban voiced his opinions and advice for investing to people of various incomes/savings.
People with $25,000-$100,000 should first pay off any debt they have “because that’s a guaranteed return,” says Cuban.
If you have extra money, don’t put it into public equities, says Cuban. He says you’re better off using the “transactional value of cash.”
What is that? That means, get the most bang for you buck at times like Black Friday, when everything is on sale.
A lot of people think that investing in stocks is the best way to grow money and avoid inflation. Cuban thinks the market is risky and can very easily vaporize your money.
As for inflation, he says you can fight inflation by using cash to get discounts. So, if you hold onto your cash through the year, then go shopping on Cyber Monday and get 30%-40% off of stuff, you’re going to beat inflation. Or, if you go to a store and offer to pay cash if you can get a discount, you can avoid inflation. That’s what he calls the “transactional value of cash.”
Picture Credit: Huffington Post