While most businesses focus on selling stuff at steep discounts during Black Friday, some brokers offer opportunities to earn money instead of spending. This article will give you five simple tips to help you feel motivated rather than frustrated and increase your income within this global mass purchase fest.
Tip 1: Take advantage of the job market
Ever thought about the best time for a job search? Yes, the Black Friday season is one of those periods.
Businesses are in dire need of professionals all year round, but this need simply skyrockets on the eve of Black Friday. And as most of the activities during the Black Friday season imply massive involvement from the sales, IT, marketing and customer service teams, it's worth thinking about preparing your CV in advance.
Applying ahead can give you a significant advantage over others.
Tip 2: Invest ahead of time
One of the periods when the stock market is highly volatile is the Black Friday season. Why don't we take advantage of such a situation and take a closer look at the highly demanded companies' stocks?
This approach could work well during the Christmas season as well. The earlier you put it as a part of your trading strategy, the higher income you can gain later.
Tip 3: Trade foreign exchange
Black Friday is an excellent period for the brokers to launch lucrative offers and involve more people in the trading.
'In the financial market, such as Forex, these "promotional" periods apply, too. When we devise technical analysis at such a time, we do it by a method called "seasonal analysis",' as explained by Kar Yong Ang, the winner of the Most Popular FX Trainers in Malaysia award.
However, you should be wise in choosing a relevant and trustworthy broker. Before falling for any offer, research the promotional conditions well, track record of past events and then try to choose the best offer, such as a unique spread or leverage offer for you. This approach will work both for classical fiat currency pairs and the relatively new cryptocurrencies market.
Tip 4: Benefit from retail prices
Kar Yong Ang highlights: 'By implementing a traditional business plan, you could buy certain goods beforehand, only to sell them at a considerably higher price after the season. Leveraging on such promotions can generate decent sales and thereby profits.
This strategy looks even more attractive if you consider that items usually increase in price after the Black Friday season. If you feel a little out of time for applying this strategy during the Black Friday season, think about Christmas eve.
Tip 5: Saving means earning
It is not a secret that impulse buying goes hand in hand with big sales' seasons. Black Friday is not an exception. However, emotions have never been helpful in financial planning. Indeed, they may play tricks with your strategy.
Whether you consider buying new boots, stocks or real estate, try to make thoughtful purchase decisions and avoid impulsive buying.
Kar Yong Ang supports this idea and stresses the ability to wait for the best purchase time, 'I will usually wait for my purchases' discount during those days since we are talking about up to 40% off the original price'.
