Every day is Black Friday somewhere, with people being hoodwinked into buying things they don’t really want or need because they are selling at an “incredible” price.
So says Steven Nathan, founder and chief executive officer of 10X Investments, who adds: “My wife loves a bargain. She is always telling me how much money she has saved on all these things she has bought on specials and promotions.”
He says his response is always that “the best way to save is not to spend, and certainly not to spend on things we don’t need, or we happen to come across as being very good value”.
“Just because a television set is marked down 50% it doesn’t mean that it is worth that to us … particularly if we can barely access our television room because of the incredible bargain bean bags that my wife found irresistible,” he adds.
Nathan tells the story of having friends over to watch the Rugby World Cup final and discovering there was hardly room to watch because of the enormous bean bags. “The kids lost interest in them after a day, and they have become a big pain in our lives. Now we will have to get a furniture van to remove them because they really are enormous.”
“There is a better way to shop than to get caught up in the excitement of bargains,” adds Nathan. “Buy the things you need, buy good quality, and save money so that you will always be able to buy the things you need, especially much later in life.”
‘Every day is Black Friday somewhere’
The asset manager, his wife and the incredible bargain bean bags
