Maybe it’s time to skip those great deals and not use your phone or laptop.
- Amazon’s Prime Day shopping event is set to take place in July.
- As tempting as it may be to take advantage of the sales, it might pay off to stay away.
- If you’re not shopping for necessities, have debts that you’re paying off, or haven’t put money aside, it may be best to avoid Prime Day.
There are certain shopping events that consumers tend to look forward to every year, such as Black Friday and Cyber Monday. Amazon Prime Day is another mega-shopping event that tends to attract consumers, even if it’s specific to a single retailer.
This year, Prime Day is expected to take place in July. As of this writing, specific dates for the 48-hour event have yet to be released. And if you’re the bargain-loving type, you might be looking forward to the launch of the event.
But however tempted you are to shop on Prime Day, you might be better off ignoring it. Here are three reasons not to shop on Amazon Prime Day.
1. You don’t need anything specific
It’s one thing to go shopping on Prime Day because there are specific items on your wish list, like appliances, clothes, or even holiday gifts that you’re looking to purchase ahead of time. But if there’s nothing specific you want to buy, then shopping on Prime Day could mean spending money for no good reason.
Today, the cost of living is exorbitant and consumers are spending more money than usual on basic necessities like food and gasoline. And so rather than shopping for fun, it pays to save money and reserve your money for the things you really need and want.
2. You already have a lot of debt
Either way, if you already owe money on your credit cards, the last thing you should do is spend anything other than the essentials. Instead, your reserve money should be allocated to your credit card balance so you can clear it as quickly as possible and limit the amount of interest you’re obligated to pay.
3. You didn’t save up front
If you’ve saved up some cash to cover some fun Prime Day shopping, then go ahead with them. But if you haven’t saved any money for Prime Day yet and won’t have the chance to do so in the next few weeks, then it’s worth abstaining.
Without dedicated savings for Prime Day, you could end up with a pile of debt that you might struggle to pay off. And now really isn’t the time to go into credit card debt given that consumer borrowing rates will likely continue to rise as the year progresses.
Avoid the temptation
It is possible to find great deals on Amazon Prime Day. But if the above situations apply to you, you better skip Prime Day and wait for another big business event.
Also, remember that Prime Day isn’t your only opportunity to grab some great deals on Amazon. The reality is that the site often has different items on sale, so you shouldn’t feel pressured to shop specifically on Prime Day if it’s just not a good time for your wallet.
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