Your Guide to Black Friday Shopping

By | November 20, 2017

Black Friday is just around the corner. Whether you head out into the crowd or surf the internet from home, you can easily overspend your budget in a blink of an eye. Use these strategies to plan out your shopping trip and stick to your spending limit.

Make Your List and Check it Twice

Follow the lead of the jolly man in the red suite and create a list of names you’re giving gifts to this Holiday. It’s all too easy to get caught up in the Black Friday deals, but that physical shopping list in your hand keeps you accountable and on track. 

Set your Budget

Find out what you can afford to spend and how it will affect your budget. Don’t feel compelled to get everything on everyone’s wish list. Try to stick to the same number of presents or dollar amount between each recipient. This can include your kids as well. Take this opportunity to talk with your children about the importance of budgeting and compromise.

Research Prices on Desired Items

Do some homework before you head out into the crowd. For some sales, you may not be getting as good of a deal as you might think. Check the regular prices at multiple stores and compare to the advertised Black Friday price. The better deal isn’t always on your normal route of stores.

Avoid the Quest for the Perfect Gift

Rarely will you be able to find “the perfect gift”. Searching for just the right gift for someone will just cause more stress on both you and your wallet. Simply pick a few items that you know your recipient wouldn’t spend money on for themselves, or that make you say “This would be perfect for them!” Better yet, if they give you a list just stick to it.

Know the Tricks

Retailers use a variety of tactics to get you to spend more. You should be especially aware of these strategies during Black Friday:

  • Mark-up prices just before the Holiday weekend, making it look like you’re getting a bigger discount
  • Offer bulk pricing (ie. Buy 3 get 1 free)
  • Advertise Door Buster deals, creating a sense of urgency and desire
  • Sell items as gift sets that are prewrapped for you, taking away the hassle of gift wrapping
  • Strategically placing higher profit products at the end of the isle of at eye level on the shelves
  • Trigger senses through holiday music, smells, and food samples – Reminding you there is still Holiday cheer and you want to spread that to everyone on your shopping list

Bring a Lifeline

Shopping with a friend or relative is one of the easiest ways to keep track of your Black Friday spending. Hold each other accountable for the items you put in your cart and the final prices that pop up on the register.

Shop Online to Resist Temptation

Easily compare prices and avoid the tempting Holiday displays by shopping online. More often than not, you put that extra item in your cart because you saw it on display. Shopping from the comfort of your home keeps you on track and eliminates the extra expenses, like dining at restaurants and pictures with Santa.

Don’t Buy Things Just Because They’re on Sale

It can be tempting to buy more than you need on Black Friday because you don’t want to miss an opportunity to save. In fact, half of those surveyed by the National Retail Federation said they shopped in stores over the Thanksgiving weekend because the deals were too good to pass up.

To avoid buying things on Black Friday just because they’re on sale, stick to purchasing items on your gift list. If anything else catches your eye, ask whether you would want it if it wasn’t discounted. If you wouldn’t pay full price, skip it.

Check for Price Matching

Find Something Else to Do on Black Friday

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