Rich Habits Podcast

Episode 145: Our Black Friday & Cyber Monday Playbook — Saving You Hundreds

Hosts: Austin Hankwitz & Robert Croak
Date: November 24, 2025

Episode Overview

This episode arms listeners with practical strategies to save real money—and avoid getting duped—during Black Friday and Cyber Monday. Austin (investor in his 20s) and Robert (decamillionaire entrepreneur) break down the business tactics retailers use, explain which technical tools and buying habits will actually save you cash, and lay out a step-by-step playbook for winning the holiday sales season while protecting your bottom line. They also field audience questions about debt, investing, and real estate.

Main Discussion Points & Insights

1. Why Are Black Friday & Cyber Monday So Intense?

• Business Strategy:
  • Quarterly Earnings: Q4 is crucial—retailers aim to make up to 40% of annual revenue.

  “This is when they make 30 to 40% of their annual revenue. So Black Friday kicks off the holiday shopping season.” — Robert Croak (03:08)

  • Inventory Cycles: Retailers push out last year’s models to make space for new stock (e.g., TV models, appliances).
  • Psychological Tactics: Scarcity, urgency, and FOMO drive "deals” that encourage impulse buys.

  “That is to get you to be nervous and scared and think that it's the end of the world if you don't click buy right now.” — Robert Croak (04:09)

2. The Real Playbook: Tools for Smarter Shopping

• CamelCamelCamel: Tracks Amazon pricing history to spot real vs. fake discounts.

  “It takes 30 seconds to go look up products... Definitely go do this to make sure that you're avoiding these bogus sales.” — Austin Hankwitz (04:48)

• Honey: Applies available coupon codes automatically at checkout for many retailers.

• Rakuten: Earn cash-back at hundreds of merchants; higher rewards on Black Friday.

• Slickdeals: Community-curated deals with vote-up visibility. Set up alerts to be notified as soon as a target item drops in price.

• Pro Tip – Price Match Policies:
  Many retailers will refund you the difference if the price drops within a week or two after purchase—don’t be afraid to ask.

  “So if you buy something on Black Friday and the price drops... you can get that difference refunded to you.” — Austin Hankwitz (07:00)

• Abandoned Cart Strategy:
  Add big-ticket items to your cart and wait—40%+ of sites will email you better deals to entice a purchase.

  “By the second or third email, you'll get a 10 to 30% off coupon that you can apply to that same purchase.” — Robert Croak (07:32)

3. What to Buy & What to Avoid

What to Buy

• Electronics: TVs, laptops, tablets—deepest discounts (up to 50% off on TVs).
• Large Appliances: Washers, dryers, refrigerators. Especially last year’s models.
• Small Kitchen Appliances: Air fryers, coffee makers, stand mixers—classic Black Friday doorbusters.
• Audio Equipment: Headphones, speakers (ex: Bose or Apple).
• Board Games, Video Games, Lego Sets.

“If you've been wanting that Instapod ...maybe a new air fryer... this is a good time to buy one.” — Austin Hankwitz (08:44)

What to Avoid

• Winter Clothing: Heavier discounts in Jan/Feb, not November.
• Furniture: Best deals come around Presidents’ Day.
• Gym Memberships/Equipment: Wait until New Year’s resolution season for best offers.

“Those are my three takeaways that aren't real deals... during Black Friday and Cyber Monday.” — Robert Croak (10:59)

4. Five-Step Playbook to Winning Black Friday/Cyber Monday

(12:11 – 13:30)

1. Make a List: Only shop for things you actually need or have planned to purchase.
2. Research Regular Prices: Use CamelCamelCamel, Google Shopping, etc.
3. Set (& Stick to) a Budget! Don’t get swept up by flash sales.
4. Use the Tools: CamelCamelCamel, Honey, Rakuten, Slickdeals.
5. Don’t Buy Without Intention:

   “A deal is only a deal if you are already planning to buy it.” — Robert Croak (12:50)

Closing Thought:

“Don’t get swept up in the hype and the fake urgency of the 70% off signs... so you don’t suffer the holiday blues in January, February, March, where you’re playing catch up on all the credit card debt.” — Robert Croak (13:20)

Memorable Quotes

• “Black Friday isn’t about helping you save money. It’s about businesses hitting their quarterly numbers, clearing out old inventory, and using psychological tricks to get you to spend money you weren’t even planning to spend.”
  — Robert Croak (01:43)
• “You can get some real deals... but you gotta play the game better than they expect you to play it. That’s why you listen to Rich Habits Podcast.”
  — Austin Hankwitz (13:43)
• “Thanksgiving is the time to be with your friends and family and be thankful... Don’t forget to enjoy your Thanksgiving this week.”
  — Austin Hankwitz (14:20)

Listener Q&A — Notable Highlights

1. Should I Pay Down Debt or Invest? (19:48)

Jessica: Building a house and expecting $325k proceeds. Should we pay down the construction loan, invest in markets, or replenish savings?

Takeaway:

• Don’t keep an overly large emergency fund—3-6 months is enough.
• Invest most proceeds rather than paying down a 6% loan.
• Focus on tax-optimized accounts (401k match, Roth, then taxable) and consider direct indexing for tax benefits.

“Have more of the money going towards making sure that HELOC is paid down and invest the rest just like you described.” — Robert Croak (20:37)
“You can't out-invest high-interest debt.” — Austin Hankwitz (23:25)

2. $75K Debt & $24K in Crypto: What Now? (24:54)

Daniel S: Should I sell crypto to pay off debt, or stay the course?

Blunt Advice:

• Stop investing in risk assets and focus on repaying high-interest debt.
• Keep a small starter emergency fund, then prioritize debt payoff.
• If crypto bounces, take advantage of higher prices to liquidate and pay down debt.

“You can’t out invest high-interest debt.” — Austin Hankwitz (25:59)
“I don't think you're in a pickle. I think you're in a bushel of cucumbers because you're in a bad spot.” — Robert Croak (25:58)
“Build a base first, then diversify into these other asset categories.” — Robert Croak (27:31)

3. Commercial Real Estate Pitfalls (29:38)

Daniel G: Advice on buying and leasing commercial property?

Key Pitfalls:

• Don’t buy without a specific, committed tenant or a clear plan.
• Be wary of personal liability on commercial leases.
• Know your local rental market and the liquidity of potential tenants.
• Make sure lease agreements protect you in the event of default.

“The biggest pitfall is to be careful buying without a plan ahead, because I don’t want you depleting what you have put towards your base towards a building that may not have a big upside without knowing how it’s going to make you money.” — Robert Croak (31:10)

Actionable Takeaways

• Only buy what you’ve pre-planned for; treat sales as opportunities, not invitations to impulsive spending.
• Use price-tracking and savings tools to confirm discounts’ legitimacy.
• Beware FOMO tactics; urgency is manufactured.
• Research what categories are genuinely discounted (electronics/appliances) versus those to wait on (clothing, furniture).

Key Timestamps

• [01:24] — Why businesses push Black Friday so hard (business tactics)
• [04:26] — Tools for smarter shopping begin
• [06:11] — Slickdeals & pro tip on price matching
• [07:13] — The “abandoned cart” savings hack
• [08:05] — What to buy (electronics, appliances, etc.)
• [09:33] — What not to buy (clothing, furniture, gym)
• [12:11] — The five-step Black Friday/Cyber Monday playbook
• [19:48] — Listener Q&A on investing vs. debt after a real estate transaction
• [24:54] — Listener Q&A: Crypto vs. debt
• [29:38] — Listener Q&A: Commercial real estate pitfalls

Closing Remarks

• Don’t let deals distract you from financial goals or family time.
• Be thankful for what you have; don’t let shopping override the spirit of Thanksgiving.
• “Put the phone down… and just really relax and enjoy yourself.” — Robert Croak (14:45)

For the full multi-step playbook and more robust financial habits, follow Austin and Robert on the Rich Habits Podcast.