Lending Club Blog

Black Friday: The Apex of Consumerism and Overspending

Here we are today: the most anticipated and talked about shopping day of the year.  The day that marks the unofficial start of the holiday season. Since 2005, Black Friday has become the busiest retail day of the whole year, both in terms of pedestrian traffic at shopping centers and in terms of actual sales volume.

Almost all big retailers participate in such an event with hopes of luring consumers and increasing their sales.  But this concept has also permeated into the financial services industry with ING Direct and Service Credit Union adopting the newly created tradition of special sales promotions on Black Friday.

There are several explanations for the origin of the term “Black Friday”, but the one that really stands out for me personally is that it indicates the period during which retailers begin to turn a profit for their fiscal year, or go “in the black.”  For anybody with basic accounting training, this means that a debit on their books, becomes a credit somewhere else… where?  that would be on YOUR books, “in the red.”

Today, just like David from MoneyNing.com, I’m staying at home enjoying a relaxing day.  But if you are shopping this Black Friday, I wish you much commensuration and conscience when venturing out there for a good sale. Be careful with overspending what you don’t have, and getting yourself into more debt that you may lament later.

Happy Shopping Day!

Follow   me


Image courtesy of inacentaurdump.

Friday, November 26th, 2010 at 10:20 am

Comments (5)

  1. Anders:

    Stayed home and watched my investments grow. Not much attraction
    for me, although Cyber Monday is a little more interesting.

    November 29th, 2010 at 12:16 pm

  2. Javid:

    Useful, but you should have posted this BEFORE I headed out and
    spent my Friday store hopping for Black Friday specials.

    November 30th, 2010 at 12:17 pm

  3. Harry:

    its horrible. People buying all the things possible that they don’t
    even really need. Good for the economy, bad for them.

    December 8th, 2010 at 3:24 am

  4. Horacio Jam:

    Wonder how we got so obsessed with sales?

    December 24th, 2010 at 2:27 am

  5. Danya Barmer:

    What a horrible deal for Americans overall, people working hard all
    year and spending all they have (and more, to the point of getting
    into lots of debt) on black Friday and Christmas.

    December 27th, 2010 at 2:14 am


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

What is Lending Club?

More than one million Americans have achieved their financial… Read More »
February 16, 2016

Get ready for tax season! Lending Club Now Offering TurboTax Integration for Form 1099s

Read More »
February 12, 2016

Lending Club Success: Surpassing $16 Billion in Loans

Founded in 2007, Lending Club’s… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

Critical Small Business Financing Issues

A recent Harris Poll survey conducted on behalf of… Read More »
December 17, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w