‘If you are spending money, you are losing’: Finance expert slams Black Friday, says ‘markdowns do not exist’
If you’re thinking about spending money on a big sale this Black Friday, think again.
In a video with over 1.2 million views as of Friday, TikTok user Wes (@honestpersonalfinance) warns that what might initially appear as a good deal is likely anything but.
“Do not buy anything. You don't need it. Nothing is on sale and nothing is a bargain,” he explains. “Everything is being sold for the exact price a retailer wanted it to sell.”
As the video continues, Wes warns that users should not be intrigued by signs indicating incredible sales or heavy markdowns on items. As he puts it, “Markdowns do not exist.”
“The only sale worth buying is the sale in which you spend $0.00,” he states. “A penny more means that you are losing and someone else is winning. You don't need to buy anything.”
Later in the video, Wes advises viewers to not fall victim to marketing, and instead invest their money.
“There is no worse way to live in the United States than being a broke person,” he explains. “Consumers are losers and investors are winners. Make your choice. Choose wisely.”
@honestpersonalfinance Nothing is on sale. Stop wasting money. #personalfinance #financialliteracy #shoppingtips #christmasshopping #shopping #moneytips #moneytok #learnontiktok ♬ original sound - Honest Personal Finance
In the comments section, some users agreed with Wes’ assessment.
“Black Friday is literally lying to us,” stated a user. “Just got a new month of diapers just te tell me it's 20 euros off, I bought the exact same pack last month.”
“I have so much stuff in my Amazon shopping cart that says it’s whatever black Friday sale price… It was that price when I put it in the cart,” said another.
This user is referring to a common idea that Amazon’s “sale prices” are similar to, if not the exact same as, its prices on non-sale days. Numerous users called out this idea on the most recent Prime Day, with one going so far as to call the event a “scam.”
However, others in Wes’ comments section said they would be shopping this Black Friday, no matter if it’s a good financial decision or not.
“I grew up poor. i need nice stuffs now. i will buy. sorry,” shared a commenter.
“But you have to buy some things though. Better deals do exist around Black Friday & Cyber Monday,” detailed a second.
The Daily Dot reached out to Wes via email.
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