Black Friday – it’s that time again when hundreds of retail stores offer huge discounts to deal-hungry shoppers. But, it’s also the day when a lot of people get enticed by stores to purchase items at marked down prices. At this time of the year, a few weeks before Christmas and New Year, how can you save on your Black Friday shopping? Here are some tips to save you from financial woes after Black Friday:
Black Friday Money-Saving Tips
1. Search for the best deals you can find.
Many stores announce their Black Friday offers as early as the third or last week of October. Subscribe to your favorite retail store’s newsletter to get the latest or even exclusive offers they have.
Compare prices between stores so you’d know where you can get the best deals. You might even be surprised that some stores offer the same discounts online.
Early bird discounts are also offered by many stores before Black Friday, so keep an eye out for them.
2. Plan ahead and stay on the budget.
Set a budget ahead of time. Keep in mind how much you’re willing to spend on items you’re planning on buying come Black Friday. And make sure you stay within that budget.
Buy gift or discount cards, but make sure you’ve read or know the store policies. You might not be able to use any gift or discount coupons on items that are already on sale during Black Friday.
3. Don’t spend beyond what you can pay off your credit card.
This shopping day is when most people tend to overspend, especially when they’re using their credit cards. As what I said in tip #2, stay on the budget. You might be happy with your purchase, but you’d most likely end up selling those precious finds just to pay off your credit card bills. You wouldn’t want that, would you?
4. Make sure you’re buying those that are actually on sale.
I can attest to the psychology behind this – how retailers lure shoppers during shopping seasons around Black Friday, Cyber Monday and Christmas. Since we are already in the shopping mood during sales, we tend to forget that not all items are on sale. And trust me, those stores know this and they would even strategically place regularly priced items with the discounted ones.
Also, be careful and verify if the price tags you see are actually for the items that you’re getting. Since stores are chaotic during Black Friday, you’d see a lot of misplaced products.
Lastly, make sure you check the prices when you’re checking out. You might be surprised that there are some prices that are higher when they scan the barcodes.
5. Don’t be vulnerable to thieves.
Holiday shopping is not all merry, sad to say. There are many scumbags who’ll take advantage of the situation when shoppers are vulnerable. So, always be aware of your surroundings and keep your belongings, wallet and money safely secured.
6. Don’t be fooled by bundled products.
Some bundled products may actually cost more than when you buy them separately. And stores will usually place those individual products away from each other, so you’d have a hard time comparing them. Well, make sure you do.
Buying bundled products usually mean that we end up with items that we didn’t really need in the first place. Don’t be tricked into buying them.
7. Stick to your game plan and shopping list. Avoid ending up with items you don’t really need.
This, for me, is vital. We tend to forget our budget and shopping list when we see items that are on sale and offered at huge discounts. For sure, you will be tempted to buy items that you don’t really need. Stick to your shopping list and budget. And, before you grab or ask for that item off the shelf, ask yourself if you actually need to buy it NOW.
8. Be patient and wait for the right time.
No, not while waiting in line during Black Friday, but there are actually items that are best purchased on any other day of the year. You have to consider the fact that since retailers expect thousands of people to go on massive shopping sprees, they won’t be offering the best deals on their most popular products. It’s supply and demand – one of the rules of economics is at play here.
So, it pays to actually be patient or keep track of the price of the item you’re planning on buying. If it’s not an immediate need, why rush, right? I personally won’t recommend buying a new TV come Black Friday.
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Those are just some tips to help you save money while you shop this Black Friday. I’m sure if you keep them in mind, you’ll have enough money saved up for your Christmas and New Year celebrations with your family and friends.
What other money-saving tips for Black Friday do you have in mind? Share at the comments section!
Read my other Black Friday articles:
- 10 Black Friday Shopping Tips – How to get the best deals!
- Complete Black Friday 2012 Store Hours PLUS Black Friday Early Bird Discounts