How to save money on Black Friday?
According to different studies, around half of consumers admit to buying unwanted items during the November sales, and one in three shoppers returns goods bought during the period. Clearly, many of us would save money just by not succumbing to the temptations of the sales marathon. But how much money could we make by investing it?
The pre-holiday marathon of "Black Friday" discounts and sales leaves no one indifferent: in Europe and the US, spending during this period is estimated in the tens of billions, and in Lithuania, one major bank last year calculated that its customers spent almost €13 million in e-shops during Black Friday alone.
This is understandable from a human point of view - after all, the greatest joy comes from making the decision to buy a product and paying for it. The temptations to experience short-term joy are especially strong at a time when the internet and the streets are bursting with "discounts" and "offers". However, numerous consumer studies show that new things get boring and discontinued very quickly, and even big purchases such as a new home or a new car are no longer as emotional after six months.
With all this in mind, the logical thing to do is to simply resist unnecessary temptations, and if there is a real discount to be found during this period, it only makes sense to use it on purchases that have been planned for a while. However, with around half of the population admitting to buying things they don't need on Black Fridays, a different and responsible way of handling money can help not only to avoid spending, but also to earn money.
So, on the occasion of the "black temptations", we suggest that you start by simply thinking about your necessary and unnecessary expenses and managing your personal finances. Saving or not spending money will already be a good first step towards more sustainable finances. And once you have some spare capital, you can think about how to use it responsibly.
If you are determined to refrain from irresponsible spending, it is worth considering and, better still, trying investing. For example, real estate crowdfunding has been gaining popularity in Lithuania in recent years - loans to property developers, previously available only to professionals, with a mortgage on the property and a solid interest rate of 7-11% per annum. With valuable real estate pledged in favour of the investor, quarterly interest payments, a minimum investment amount of just EUR 100 and interest rates several times higher than in deposits, this conservative instrument is attracting the interest of an increasing number of Lithuanians, with the crowdfunding market in Lithuania last year exceeding EUR 230 million.
It is always worth investing in other time-tested areas, especially if you consult a professional or someone who already does so: shares, bonds, funds or even investment property are not bad choices in themselves, but you need to consider all the risks and opportunities in each case.
Unlike spending money, investing does not generate immediate emotions: investing in crowdfunding usually takes a year to return the money, even though the earnings will start to come in quarterly. However, consistent investment and growing financial resources create a deep and lasting sense of security and peace of mind. In particular, money growing faster each year means greater stability in the face of life's unexpected events, and investing and reinvesting your earnings responsibly and consistently over time can create a very solid stream of passive income to meet your own or your family's needs. After all, with consistent investment and no spending, you can eventually build a life where you simply don't have to chase any more discounts.
That's why crowdfunding platform Röntgen - supervised by the Bank of Lithuania, valued by professional and smaller investors alike, and one of the country's largest and most conservative crowdfunding platforms - is inviting you to earn more than you spend on Black Friday.
Investing here can start from as little as €100, but even this amount will allow you to get to know the processes, earn interest rates several times higher than deposits and, most importantly, change attitudes and habits. Investing should not be about giving in to emotions, temptations and adventures, so for the Black Friday period, get to know the investment projects carefully selected by a team of professionals. Register on the Röntgen platform and start your investment journey.
How to save money on Black Friday?
According to different studies, around half of consumers admit to buying unwanted items during the November sales, and one in three shoppers returns goods bought during the period. Clearly, many of us would save money just by not succumbing to the temptations of the sales marathon. But how much money could we make by investing it?
The pre-holiday marathon of "Black Friday" discounts and sales leaves no one indifferent: in Europe and the US, spending during this period is estimated in the tens of billions, and in Lithuania, one major bank last year calculated that its customers spent almost €13 million in e-shops during Black Friday alone.
This is understandable from a human point of view - after all, the greatest joy comes from making the decision to buy a product and paying for it. The temptations to experience short-term joy are especially strong at a time when the internet and the streets are bursting with "discounts" and "offers". However, numerous consumer studies show that new things get boring and discontinued very quickly, and even big purchases such as a new home or a new car are no longer as emotional after six months.
With all this in mind, the logical thing to do is to simply resist unnecessary temptations, and if there is a real discount to be found during this period, it only makes sense to use it on purchases that have been planned for a while. However, with around half of the population admitting to buying things they don't need on Black Fridays, a different and responsible way of handling money can help not only to avoid spending, but also to earn money.
So, on the occasion of the "black temptations", we suggest that you start by simply thinking about your necessary and unnecessary expenses and managing your personal finances. Saving or not spending money will already be a good first step towards more sustainable finances. And once you have some spare capital, you can think about how to use it responsibly.
If you are determined to refrain from irresponsible spending, it is worth considering and, better still, trying investing. For example, real estate crowdfunding has been gaining popularity in Lithuania in recent years - loans to property developers, previously available only to professionals, with a mortgage on the property and a solid interest rate of 7-11% per annum. With valuable real estate pledged in favour of the investor, quarterly interest payments, a minimum investment amount of just EUR 100 and interest rates several times higher than in deposits, this conservative instrument is attracting the interest of an increasing number of Lithuanians, with the crowdfunding market in Lithuania last year exceeding EUR 230 million.
It is always worth investing in other time-tested areas, especially if you consult a professional or someone who already does so: shares, bonds, funds or even investment property are not bad choices in themselves, but you need to consider all the risks and opportunities in each case.
Unlike spending money, investing does not generate immediate emotions: investing in crowdfunding usually takes a year to return the money, even though the earnings will start to come in quarterly. However, consistent investment and growing financial resources create a deep and lasting sense of security and peace of mind. In particular, money growing faster each year means greater stability in the face of life's unexpected events, and investing and reinvesting your earnings responsibly and consistently over time can create a very solid stream of passive income to meet your own or your family's needs. After all, with consistent investment and no spending, you can eventually build a life where you simply don't have to chase any more discounts.
That's why crowdfunding platform Röntgen - supervised by the Bank of Lithuania, valued by professional and smaller investors alike, and one of the country's largest and most conservative crowdfunding platforms - is inviting you to earn more than you spend on Black Friday.
Investing here can start from as little as €100, but even this amount will allow you to get to know the processes, earn interest rates several times higher than deposits and, most importantly, change attitudes and habits. Investing should not be about giving in to emotions, temptations and adventures, so for the Black Friday period, get to know the investment projects carefully selected by a team of professionals. Register on the Röntgen platform and start your investment journey.
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UAB Trečia diena, valdanti platformą Röntgen, yra licencijuota sutelktinio finansavimo platforma. Platformos veiklą reglamentuoja ES Sutelktinio finansavimo reglamentas, o veiklos priežiūrą įstatymų numatyta tvarka vykdo Lietuvos bankas.