Black Friday money tips for maximizing your cash flow

Kelly Holloway says to begin by only using cash and try to avoid the credit card
Walmart ofrecerá ofertas en productos electrónicos, hogar, juguetes, ropa y marcas como Apple,...
Walmart ofrecerá ofertas en productos electrónicos, hogar, juguetes, ropa y marcas como Apple, Dyson y LEGO.(Gunnar Rathbun | Invision for Walmart)
Published: Nov. 22, 2022 at 6:20 PM CST
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PEORIA (25 News Now) - Even though some stores have already begun their Black Friday sales, financial experts, Kelly Holloway from PalomarWealth says now is the time to plan a budget for your holiday shopping.

She suggests deciding who you’re shopping for and buy things they need and not what you want them to have.

Holloway also says to figure out what gifts you want to buy and try to limit the number of stores that you visit and only use cash to buy holiday gifts so you don’t have to worry about high credit card interest come January.

“It’s a priority to not spend more than you are able to repay at the end of the month because when you’re adding interest to those gift purchases, it’s really not a savings, especially on Black Friday. There’s always that big draw that it’s so much percentage off but think about how much is your credit card interest rate,” explains Kelly Holloway, an investment specialist with PalomarWealth.

She points out to not forget about Small Business Saturday. Not only does shopping small help stimulate the local economy but you may be able to find even more unique gifts and avoid the long lines by shopping at local mom and pop shops.