5 Tips to Get the Most Out of Black Friday Shopping on a Budget
Black Friday and Cyber Monday are still the most popular times of year to shop. Whether you’re buying for others or just for yourself, the lure of a great deal is hard to resist. While there is nothing wrong with snagging some buys at a discount, those purchases can easily add up to more than you were expecting. Here are some tips to make the most out of the deals without getting carried away:
Create a game plan
Start with setting a budget and identifying where that money will come from. Will you pay for it from your holiday savings? Are you relying on money from your current paycheck? If you are considering using credit or Buy Now, Pay Later, make sure you’ve thought ahead about how you’re going to pay that off. Once you know how much you can realistically spend, make a list. This is probably the most cliche shopping tip, but it’s effective. Your list should include the specific items you need or want to buy along with the approximate price of each item.
Pay attention to prices in advance
Not every Black Friday or Cyber Monday sale is a worthwhile deal. For large purchases, start tracking prices well in advance of Black Friday. Technology makes this easier than ever. ShopSavvy helps you comparison shop and also tracks price history so you have an idea of whether there is generally a cheaper time of year to buy a particular item. CamelCamelCamel tracks the price history specifically of Amazon products.
Avoid distractions
Replace FOMO (fear of missing out) with JOMO (joy of missing out). Distractions can destroy the best-laid plans so set yourself up to avoid them. If you’re prone to impulse Instagram purchases, set a reminder in your phone to log yourself out or delete the app for a few days. If email marketing is your Achilles heel, unsubscribe from retailers’ promotional emails if they are not on your “to buy from” list. If you aren’t planning to buy from that store, you don’t need to know about their sales! And you can always resubscribe at a later date.
Use a coupon extension for online shopping
Another technology hack: use a browser extension like PayPal Honey or Capital One Shopping that automatically enters coupon codes for you. There is a special kind of satisfaction that comes from getting a surprise discount with zero effort.
Activate merchant offers
Some banks and credit card companies offer special deals that give you a higher percentage of cash back or flat-dollar discounts with their partner retailers. Check whether that could be a better deal for you than buying on Amazon or directly through another store. Just keep in mind that unless you’re paying off your credit card statement each month, you’ll likely pay more in interest than the discount you receive.
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