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Speaker 1: Welcome to Fear and Greed Q and A where we

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Speaker 1: ask and answer questions about business, investing, economics, politics and more.

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Speaker 1: I'm Michael Thompson and good morning Sean Ayleman.

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Speaker 2: Good morning, Michael, and good morning to you.

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Speaker 1: Adam Lange.

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Speaker 3: Hello Michael.

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Speaker 1: Something a little bit different today. It's a very Sunday

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Speaker 1: kind of topic. But we are talking retail and obviously

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Speaker 1: we are heading into Black Friday week which then leads

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Speaker 1: into kind of a gray weekend then for ahead of

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Speaker 1: the Cyber Monday. And what this means is that there

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Speaker 1: are some tremendous opportunities out there to save some money

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Speaker 1: on any kind of purchases. It is also a really

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Speaker 1: important date in the retail calendar. It has become the

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Speaker 1: biggest retail event across the entire years, replaced Boxing Day

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Speaker 1: as the biggest retail sales event. So if you're going

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Speaker 1: to buy anything, you do it now, right you think, so, yes,

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Speaker 1: Well that's there we go. I've started us off with

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Speaker 1: one tip delay do it today. Well, okay, Sean, have

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Speaker 1: you got any ideas tips on the ways to make

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Speaker 1: the most of the Black Friday sales?

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Speaker 2: Well sort of. So the Australian Retailers Association reckons that

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Speaker 2: about Roy Morgan data about six point eight billion dollars

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Speaker 2: we spent over the Black Friday, Sunday, Ciber Monday weekend.

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Speaker 2: Now if you include from now forward, so over the

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Speaker 2: next ten days or so, it's certainly going to be

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Speaker 2: a couple of billion more than that. What I like

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Speaker 2: about these sales is that there are brands that you

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Speaker 2: don't really see on sale very often. Now I'm not

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Speaker 2: pushing any of these, so you know, do your own

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Speaker 2: research and all that sort of stuff. But for example, Dyson,

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Speaker 2: Dyson's a really expensive product, vacuum cleaner's air conditions, all

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Speaker 2: sorts of things. You can save up to six hundred

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Speaker 2: and fifty bucks on selected Dyson technology. I think that's

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Speaker 2: pretty cool. Brevell my favorite love Revel. Sometimes it's actually

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Speaker 2: hard to find Revel stuff on sale. Well, suddenly there

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Speaker 2: were big sales. There. Lots of other names, you know, Sheridan, Pillow,

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Speaker 2: Talk IKEA, JB High Five, They've all got ads out

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Speaker 2: at the moment talking about how to save money. But

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Speaker 2: what I mean, the thing for me about this period

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Speaker 2: is there are just some products and brands that don't

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Speaker 2: go on sale very much that you can get on

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Speaker 2: sale now. So my tip that's a long way, you know,

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Speaker 2: wandering around trying to answer your question here. My tip

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Speaker 2: is to actually do your research. So if you know

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Speaker 2: what you want. So I think at this point I

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Speaker 2: have got a lot of kids in my house, I

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Speaker 2: give them one good president at the end of the year.

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Speaker 2: My daughter Rose, I know what I want to get

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Speaker 2: her for Christmas, so I've just got to sit down

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Speaker 2: work out how to get it. And I mean to

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Speaker 2: do it all. Do it online is what I do it.

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Speaker 2: But actually do your research and you can find some

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Speaker 2: fantastic bargains, but you've got to make the effort. You

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Speaker 2: can't just flip through.

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Speaker 3: Yeah.

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Speaker 1: Look, I completely agree with that, and I have a

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Speaker 1: slight advantage in this one because our sister podcasts How

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Speaker 1: Do They Afford That, which comes out every week. We

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Speaker 1: just released an episode last week that included ten ways

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Speaker 1: to make the most of your Black Friday sales. It

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Speaker 1: started out as six, but we've had so many good

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Speaker 1: ideas that it ended up as ten, and that make

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Speaker 1: a list. Do your planning is absolutely key to this.

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Speaker 1: That you if you walk into or rather kind of

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Speaker 1: click onto a site without an idea of what you're

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Speaker 1: actually looking for. You are going to end up buying

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Speaker 1: things that you don't actually need because who can resist

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Speaker 1: seeing something that is kind of thirty percent off of

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Speaker 1: forty But I do need it, But I do need it.

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Speaker 1: It's alarmingly easy to convince yourself that you actually do

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Speaker 1: and you focus instead on what you're saving rather than

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Speaker 1: what you're actually spending.

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Speaker 3: Yeah.

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Speaker 1: Yeah, and this idea that use this as your Christmas

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Speaker 1: shopping absolutely, so if you haven't already set up like

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Speaker 1: a secret sander or something with extended family, you do

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Speaker 1: that now and so that people can make the most

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Speaker 1: of it well in advance. And a really interesting one

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Speaker 1: point that Canna Campbell, who does how do they afford that?

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Speaker 1: With me? The point that she made is remember that

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Speaker 1: think back to your shopping in the past, and to

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Speaker 1: think back about the impulse purchases and things that you

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Speaker 1: have made in the past and how they made you

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Speaker 1: feel and whether you actually got the value out of it,

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Speaker 1: and don't don't spend like it's it's kind of like

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Speaker 1: I know, it's embracing the minimalist approach to to shopping,

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Speaker 1: right that do you actually need it? Is it going

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Speaker 1: to make a difference to your life. Is it something

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Speaker 1: that you would have bought anyway and you're just actually

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Speaker 1: going to save money by doing it now, then go

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Speaker 1: for it. Go for it. But if you're just buying

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Speaker 1: it because it's on special and it's going to sit

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Speaker 1: around the house and it's going to cost you money

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Speaker 1: and it's going to drain your budget, then maybe think again. Adam,

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Speaker 1: you're a mad shopper.

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Speaker 2: I recommend a spreadsheet. You would he would do you? Yeah,

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Speaker 2: he would have Lara, you'd have the.

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Speaker 1: Boys, Lucas, Maggie. Does Maggie have a tab on the

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Speaker 1: on the Christmas shopping spreadsheet?

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Speaker 3: Look, I'm going to confess Christmas shopping is one of

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Speaker 3: my weaknesses.

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Speaker 2: I Am, you don't have weaknesses, Adam, don't be like that.

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Speaker 2: Dad's say one of weakness.

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Speaker 1: I saw him get gout once. That was a weakness.

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Speaker 3: It was it is.

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Speaker 1: And that felt that felt cruel to point that out because.

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Speaker 2: Him trying I've seen him try and ride a bike

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Speaker 2: five bike, right, that was a weakness.

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Speaker 1: So now this has just become a shopping list of

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Speaker 1: Adam's weaknesses going.

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Speaker 3: I do love a list. I do love a spreadsheet,

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Speaker 3: and it just helps me manage the anxieties during the year.

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Speaker 3: I got to remember that, God remember that. Well, I

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Speaker 3: never do right. So I create these lists. And one

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Speaker 3: of the things with shopping for me, it's a bit

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Speaker 3: like a competition. So my adrenaline goes up and I

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Speaker 3: get very sort of competitive and excited, and so I

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Speaker 3: want to buy more things. So one of my limits

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Speaker 3: is I've just got to take breaks away from the

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Speaker 3: Black Friday machinery, not to buy too much, only one hit.

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Speaker 3: So I load up the cart right and usually I'll

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Speaker 3: often load up the Amazon cart or whatever, and I'll

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Speaker 3: watch for price changes.

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Speaker 2: So would you use websites let's say Amazon.

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Speaker 3: No, I've taken Amazon. I use a lot, but I've

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Speaker 3: taken to using more because there are sometimes price benefits

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Speaker 3: outside it. And so creating like watch lists of things

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Speaker 3: that I know I want to get and when they

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Speaker 3: do come on sue because sometimes, like any side, there

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Speaker 3: is retailer as an expert, there's retailers who have stock

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Speaker 3: made purely for these buying frenzies, right, and they might

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Speaker 3: list them for a short time at a full price,

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Speaker 3: and then they just go into heavy discount mode. And

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Speaker 3: so you've got to watch for buying things that look

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Speaker 3: like they're normally really high price but perhaps aren't often

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Speaker 3: high price. So yeah, I do like using it. It

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Speaker 3: is so convenient. But on counters tip about remember the mistakes. Yeah,

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Speaker 3: I've made a few along the way.

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Speaker 1: Can I toss in a couple of quick ones? Number

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Speaker 1: one is is I mean everyone's short on time. So

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Speaker 1: you pick the highest priced things that you are going

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Speaker 1: to need into the future, and look towards twenty twenty

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Speaker 1: six as well, the things that you are going to

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Speaker 1: need potentially if the kids need a laptop, going back

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Speaker 1: to school, and focus your attention on the things that

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Speaker 1: are actually going to have the biggest potential saving. And

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Speaker 1: don't just think Christmas. Think Birthday is for next year,

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Speaker 1: I think return to school, Think what you might need

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Speaker 1: for the office and stuff in the nesence. Yeah yeah, yeah,

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Speaker 1: present random self care and focus on those big things

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Speaker 1: because if you've got limited time, you're going to see

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Speaker 1: the biggest savings and the biggest return on the investment

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Speaker 1: of your time. The other thing, and this is a

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Speaker 1: great one and Shan my wife uses this all the

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Speaker 1: time as well. There are cash back. There's a thing

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Speaker 1: called shop back. There's a bunch of different different options

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Speaker 1: out there, but what you actually do is you essentially

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Speaker 1: you buy through another platform. Shotback is the one that

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Speaker 1: we've used, not affiliated with. If you can just use

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Speaker 1: it and you might buy be buying something through Harvy

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Speaker 1: Norman or something like that, but you buy it through

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Speaker 1: this shop back website, and you actually get a percentage

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Speaker 1: of the purchase price back as cash paid directly to you,

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Speaker 1: and it builds up in your account you just transferred

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Speaker 1: as cash.

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Speaker 3: And that doesn't the discount at all.

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Speaker 1: It doesn't. It doesn't. And so you can actually stack

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Speaker 1: you can stack your discounts. You can get one from

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Speaker 1: the retailer, and then you get essentially an additional cash

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Speaker 1: back through this provider, and so it's worth investigating anyway.

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Speaker 1: I sat back, Yeah, yeah, anyway, Look, how about that

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Speaker 1: three of us who know very little about kind of

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Speaker 1: anything about shopping, but we've managed to cobble together a

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Speaker 1: pretty solid list of things to take into account this

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Speaker 1: Black Friday. What do you reckon?

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Speaker 2: Yeah? Well done.

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Speaker 3: I learned so well done.

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Speaker 1: I'm bizarrely I learned something from both of you which

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Speaker 1: really rarely happens on topics like this. Thank you very much, Sean.

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Speaker 2: Thanks Michael, Thanks Adam, Thank.

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Speaker 3: You, Adam, thank you.

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Speaker 1: If you've got something that you would like us to

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Speaker 1: dig into, it can be anything, then send it on

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Speaker 1: through via LinkedIn, Instagram, Facebook, or at Fearangreed dot com

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Speaker 1: dot au. I'm Michael Thompson and this is Fear and

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Speaker 1: Greed Q and a