It’s Black Friday and you know what that means— just about everything is “on sale” today and more than 100-million Americans will be scurrying about for Christmas bargains. But don’t head for the mall just yet... We’ve got a few things to think about before you head out to face the teeming masses. Financial planner and teacher Rob West welcomes Ron Blue to MoneyWise Live to talk about Black Friday madness.
- “Black Friday” sounds rather ominous but not if you’re a retailer! Do you really save money shopping on Black Friday?
- How is it that sometimes when we think we’re saving money by buying something on sale we’re really not?
- What are some other fallacies about saving on Black Friday or any other day?
- How do we avoid getting caught up in the shopping frenzy?
- Any tips on how we should pay for things?
Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
- If you had a retirement plan a few years ago for which you've received a letter offering three choices - lump sum, begin monthly annuity payment or wait to take a retirement benefit, which should you choose?
- Are all investments of mutual funds, for example, ones that Christians should be involved in?
- If you chose to draw on your pension because of a layoff but have recently secured a new job, what should you do with these funds now?
- If you lost your job a while back and your husband's income can support your family, what should you do with about $30,000 in your 401(k)?
- If you husband is not a Christian and has problems with substance abuse, how do you balance suggestions of having combined finances with this situation?
- Is there a one-stop-shop for Christian financial advisors?
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