Weekly Thoughts 23 November 2018

Today is that day in the year (it’s become a few days now) where loads of consumers go shopping for things they don’t really need and might not have bought, under the pretence of saving. We don’t save when we spend money, we save when we don’t spend it.

The only thing I would need, not want, is clothing. I don’t like shopping for clothes at the best of times and am not very good at it. I also don’t do queues and crowds very well. So I guess I won’t be doing the Black Friday thing. But companies will make money, which is good. They won’t sell everything at a loss, so the listed companies that you and I have in our unit trust funds, will still make good profits.

For most shoppers however, they won’t be spending their own money anyway. They’ll be buying on credit. So the Banks make money too. Who loses….?