Get the app
Join millions of investors on Stash
Start today with as little as $5
Get the app
2 min read
Digital retailer Amazon1 single-handedly invented a new national shopping day called Prime Day®, and now hundreds of retailers around the country are expected to pile on with online sales of their own when the event starts July 15, 2019.
Amazon launched Prime Day as a two day, mid-summer event in 2015 to promote online sales for existing Prime customers, and to entice new customers to join the Prime membership program. Since then, Prime Day has joined other big sales days such as Black Friday and Cyber Monday. Last year, Amazon reportedly sold 100 million products in 48 hours, and raked in an estimated $4.4 billion in sales.
More than 250 other retailers—including Target and Walmart—are expected to take part in the shopping day in 2019, with rival deals of their own. Unofficially, Prime Day is also the kick-off of back to school shopping, and this summer, parents say they plan to spend an average $507 on school supplies, up from $465 in 2018, according to Bloomberg.
Here’s how you can navigate Amazon’s Prime Day:
- Set a budget for yourself. Know how much money you can afford to spend before you start shopping. Think about using money from the “wants” part of your budget. (Check out what that is by reading up on the 50-30-20 budget). Try to avoid using credit cards for your spending, unless you know you can pay off the balance each month. No matter how good the sales are, you want to avoid increasing your debt. Consider using a debit card, as debit charges are deducted directly from your checking account. Also, don’t use money that you’ve saved in your emergency fund—that money is strictly for emergencies.
- Build your list before you shop. It’s pretty simple. Write down everything you want to buy before you start shopping. You can tally the expected cost of each item, and check it against your budget. Having a list before you start will help you apply the brakes before you overspend, and help you control impulse spending.
- Do a quick search for big-ticket items. If you’re looking to buy something that costs a lot of money, confirm you’re getting the best deal by checking around online. Remember, hundreds of other retailers are jumping on the bandwagon on Prime Day to offer sales of their own.
- Use your Stash debit card. If you are going to shop on Prime Day, consider using the Stash debit card2 so you can earn Stock-Back3. When you spend at Amazon with the Stash debit card, you’ll automatically earn Amazon stock (AMZN) for your Stash portfolio. (The same goes for any other company with individual stock available on Stash). If you choose to shop at a local business this Prime Day and use a Stash debit card, you’ll earn Stock-Back in the Stocks Worldwide ETF.
Some Amazon background
Jeff Bezos founded Amazon in his garage in 1994, as an online bookseller. It went public in 1997 with a valuation of $500 million.
Amazon has made Bezos a very rich man. His fortune is currently worth about $131 billion, making him the richest person in the world.
Start today with as little as $5.
Get the App
An International Bond ETF on Stash
1Amazon Prime Day® is not sponsored or endorsed by Stash. We do not have any affiliation with Amazon®.
Amazon® and Prime Day® are registered trademarks of Amazon Technologies, Inc.
2Debit Account Services provided by Green Dot Bank and Stash Visa Debit card issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association.
3Opt-in is required. In order to earn stock in the program, the Stash debit card must be used to make a qualifying purchase. Account opening for the debit account is subject to Green Dot Bank’s approval
Stash Stock-Back™ rewards is not sponsored or endorsed by Green Dot Bank, Green Dot Corporation, Visa U.S.A., or any of their respective affiliates, and none of the foregoing has any responsibility to fulfill any stock rewards earned through this program.
Stock-Back Rewards that are issued to a participating customer’s personal brokerage account via the Stash Stock-Back Program, are not FDIC Insured, Not Bank Guaranteed and May Lose Value.
This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.
Furthermore, the information presented does not take into consideration commissions, tax implications, or other transactional costs, which may significantly affect the economic consequences of a given strategy or investment decision. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Each investor should evaluate their ability to invest long term, especially during periods of downturn in the market. Investors should not substitute these materials for professional services, and should seek advice from an independent advisor before acting on any information presented. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio.
Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Stash does not represent in any manner that the circumstances described herein will result in any particular outcome. While the data and analysis Stash uses from third party sources is believed to be reliable, Stash does not guarantee the accuracy of such information. Nothing in this article should be considered as a solicitation or offer, or recommendation, to buy or sell any particular security or investment product or to engage in any investment strategy. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Stash does not provide personalized financial planning to investors, such as estate, tax, or retirement planning. Investment advisory services are only provided to investors who become Stash Clients pursuant to a written Advisory Agreement. For more information please visit www.stashinvest.com/disclosures.