Were you there? At the economic crisis rally? There were several held in most cities across the country at three in the morning the day after Thanksgiving.
Yes I am talking about Black Friday. Although I was sound asleep until 6:00am when my son woke me fired up to play with his Hot Wheels, I heard stories throughout the day of people standing in lines four people wide and three football fields long.
What economic crisis? These people didn’t arrive at the local Best Buy at 2am to “browse” the merchandise, they came to spend money baby! They were holding rallies to show that this economy is thriving.
So despite an economic crisis we’re supposedly having here in the US, what drives the Black Friday shoppers to fore go sleep and the tail end of their Thanksgiving dinner to stand in line to “maybe” grab a killer deal?
Scarcity.
The retailers market Black Friday to talk to the scarcity mindset our society is living in. The most famous is the “limited quantity” loss leader product. The one advertisement that shows a common item like a plasma TV on sale for a ridiculously low price with an asterisk saying there is only a certain number available. The belief that money is scarce drives people out to be the first in line to buy a TV they believe is normally too expensive for them. Why else would they be at the store at one in the morning?
The retailers are hoping this savings frenzy pours over into other products in the store. You can’t just buy a TV on Black Friday. Spending your precious sleep time in line with a bunch of strangers, you also need a Blu-Ray player and a blender too, right?
Simply put, people want to save money so they give up their time to do so. The nationwide focus is on trying to find ways to cut back and save money, instead of placing attention on ways to be more productive and create more money.
Which would you rather have? More than enough money to buy anything you wanted at full price? Or to be coupon clipping and pulling all-nighters to find savings that fit your perceived limited budget?
Telling ourselves we need to cut back keeps us in a scarcity mindset. How much longer do you want to tell yourself you “can’t afford it” unless it goes on sale?
Instead find a way to produce more money. No justifying why you “can’t” make more money. Believe me I have heard a lot of them.
A great place to start is identifying what is a more important asset? Time or money?
I know what a billionaire would say. What about you?
I would love it if you would please post your comments here. Which is more important to you? Time or money and why?
{ 2 comments… read them below or add one }
As for me, I have two little boys who are not sleeping through the night. I’ll pay full price for my TV as I cherish every extra minute I can get. My time is far more valuable than my money.
Time is more valuable. You can always earn more money, but you cannot get more time because it is a finite resource!