Financial advisors urge Black Friday shoppers to budget wisely, avoid holiday debt trap

Black Friday is just a few days away and many people will be getting their holiday shopping done to take advantage of multiple black friday sales, however financial advisors warn shoppers to be sure that they’re properly budgeting to avoid overspending.

“The holiday season can become such a big bill for everybody that you also have to budget that as well. Just because you don’t have a massive budget doesn’t mean you can’t be a great gift giver.You don’t want to start off 2024 in a hole. Too many people do that in regards to Christmas and find themselves playing catch up for the next several months,” Chris Markowski, a financial planner and host of the “Watchdog on Wall Street Wall Street Wolf podcast said.

Financial planners also encourage shoppers to reach out to a financial advisor or planner near you to help create a plan that fulfills your needs but still keeps you on budget.