Not Spending This Black Friday Could Be the Best Gift You Give Yourself

As the holiday season approaches, the excitement over sales and gift-giving reaches a fever pitch, especially on Black Friday. Tempting deals are just waiting to lure us unsuspecting folks to fill our carts (in-store and online) with items we may not even need. Now, I wouldn’t say I like shopping, and I don’t like malls. When I go into a store I feel like I’m a little fish about to be caught by the bait – Winners is my biggest weakness so I only allow myself to go in periodically. They know just how to catch our eye and display items that will look fantastic hanging from our door or in our living room.

So as we approach peak buying season, what if we paused to rethink our spending habits this year instead of joining the holiday rush? What if we used this season as an opportunity to embrace simplicity, make more mindful choices, and focus on what truly brings value to our lives?

In this blog post, I want to explore why scaling back could be the best decision for our wallets, our happiness, and even the planet. Let’s talk about distinguishing wants from needs, valuing experiences over things, and the challenge of being content with what we already have.


Wants vs. Needs: Taking a Step Back to Examine Our Purchases

We live in a world that often blurs the line between wants and needs. Marketing plays on our emotions, convincing us that the latest gadget, outfit, or decor piece will complete our lives or make us happier. I mean, every time (and I mean EVERY time) I go to Winners I’m drawn to the stupid door wreaths – why? I have a plain door wreath already that I swap out with seasonal colours and decor. Maybe I feel that it’s inadequate and I should have a beautiful new wreath (that will likely fall apart in six months). Yet, I know deep down that more often than not, these purchases simply satisfy a fleeting desire rather than fulfilling a true need. So I walk away.

Pause for a moment. Look around you—at your desk, in your home, wherever you are right now. Can you articulate why each item you see was necessary? Is there anything you could live without or that doesn’t bring you any lasting joy? Ask yourself: does this item make my life better, or is it just “stuff” taking up space?

This exercise is enlightening. You may realize that many of your belongings—those once-coveted items—are hardly necessary or even meaningful anymore. Embracing this perspective is the first step in transforming how we spend our money. How many hours did you need to work to pay for these items—now that’s a scary exercise.


Prioritize Experiences Over Things

Countless studies show that spending on experiences rather than material goods brings more sustained happiness. Memories of a hike with friends, a family gathering, or a weekend getaway often linger far longer than the thrill of a new purchase. Can you remember your last vacation? Sure! Can you remember how you felt when you purchased that last shirt? Can you even remember purchasing that last shirt? Hmm.

The satisfaction we gain from experiences is also more fulfilling. When you spend on experiences, you’re investing in memories, growth, and connection—all things that enrich your life in ways material items rarely can. So, by reallocating your Black Friday budget toward experiences, you’ll likely end up with something priceless: meaningful memories and a sense of well-being that doesn’t fade over time.


Less Stuff, More Planet and Pocket-Friendly Choices

Owning less doesn’t just benefit you; it’s also kinder to the planet. Mass consumption, especially during the holiday season, takes a heavy toll on the environment. Products often involve energy-intensive manufacturing processes, long transportation routes, and excess packaging (which drives me bananas)—especially when bought online. Many of these items are made cheaply, wear out quickly, and end up in landfills, further contributing to pollution and resource depletion.

By buying less and making careful choices, we can reduce our ecological footprints and help slow down the cycle of production and waste. Spending less also benefits our pockets by allowing us to save or invest money rather than pouring it into items that may have only short-term value.


Why Do We Feel the Need to Buy?

Many of us turn to shopping as a quick way to feel good. Retail therapy, as it’s called, gives a temporary boost of happiness, a sense of control, or a way to soothe stress. But shopping can be a bit like sugar: while it offers instant gratification, it’s rarely nourishing.

What if, instead of reaching for our wallets, we learned to savour and appreciate what we already have? Contentment is a powerful antidote to consumerism. It can take practice to cultivate, but when we focus on appreciating what we have rather than constantly seeking more, we start to notice the richness of life beyond our crap, sorry, I mean possessions.


A Challenge: Wait 48 Hours Before Your Next Purchase

Let’s put this to the test: the next time you’re tempted to buy something—especially during Black Friday or the holiday sales—wait 48 hours. Use this time to reflect on whether you truly need or deeply desire the item. If you decide against the purchase, consider taking the amount you would have spent and setting it aside. I double-dog dare you.

If it’s an essential item you’ve been planning to replace or upgrade, then go ahead. But if not, let the money stay in your bank account or, even better, put it to work by investing it.


Invest in Yourself: Consider Buying the XEI ETF Instead

Let’s expand on this idea a bit. One great way to invest in yourself rather than in more possessions is by buying shares of an Exchange-Traded Fund (ETF), like XEI. XEI is a Canadian ETF that focuses on high-dividend-paying companies, providing both growth potential and income over time. It includes companies from stable sectors like utilities, telecommunications, and financial services, meaning it’s less volatile and offers steady returns over the long run.

Imagine each $30 you would have spent on clothes or electronics was instead put into XEI. As I write this, XEI is at a cost of $27.32 and pays out a monthly dividend of $0.11. For one little ETF! That’s a distribution yield of 4.79%, not bad at all, and much more lucrative than the new shirt from Winners that will end up jammed in my already bursting closet.

What if you bought an XEI share every month, what if you bought two or three? Over time, even these small amounts can grow significantly through compounding returns and reinvested dividends. Not only does this habit build financial stability, but it also shifts your mindset away from consumption, and toward long-term wealth creation.


The Freedom of Having “Enough”

The pursuit of more—more deals, more things, more status—can sometimes mask an inability to enjoy what we already have. Embracing the concept of “enough” liberates us from the cycle of wanting and spending. But it takes practice.

This season, rather than getting caught up in the holiday rush, challenge yourself to step back and reflect. Try my 48-hour rule, consider investing in yourself, and appreciate the abundance that already surrounds you. Because sometimes, the best way to celebrate the season is by giving yourself the gift of contentment.