How to Avoid Overspending on Black Friday
For avid shoppers, Black Friday may be one of the highlights of the year. It is the perfect time to snag great deals on gifts for your family, friends, and, of course, yourself. Unfortunately, Black Friday can also suck your budget dry without you even noticing. After all, who has time to tally how much they’ve spent when they’re already hunting for the next great deal?
But you don’t have to fall into the trap and blow your entire holiday budget in one fell swoop. Our tips can help you enjoy your deal shopping without breaking the bank.
Don’t Get Too Competitive
It’s no secret that Black Friday can get super competitive. Just watch the news around Thanksgiving, and you’re likely to see hordes of people lining up well in advance of when stores open.
While a little competition might be fun, it can also cloud your shopping judgment. For instance, if you see people racing towards an Instant Pot and you get there first, you might be tempted to grab one even if you already own every size, make, and model.
To avoid overspending, don’t let your competitive drive take over. Just because you can get something other people want doesn’t mean you should. If a product is going quickly and you’re not sure if you want it, you can always put it in your cart and wait until the fog of war clears before deciding if you should actually purchase it.
Set a Budget
Setting a budget may not scream “fun,” but it can help you keep your spending in check. If you set aside a maximum amount of money that you’re prepared to spend, you may feel less inclined to buy the items you’re not 100% committed to. Plus, as long as you stick to your budget, you might not feel such overwhelming dread when your credit card bill arrives.
Know How You Will Use Items
When you spot a great deal, you might just buy it without any thought of how you’ll use it. This is particularly true around the holidays when you might be tempted to buy items you could use as gifts just in case. There are enough good deals this time of year that this can become problematic. If you buy every good deal you see without a clear idea of who you’re giving it to or how you’re going to use it, you might quickly rack up bills and fill your closets with unnecessary items.
Carefully considering what you will do with each item you buy can help reduce the risk of overspending and prevent clutter.
Plan Out What You’ll Buy Based on Ads
On Black Friday, store aisles are crowded with displays of appealing items that you might buy on impulse. Impulse buys can add up quickly. Luckily, most stores publish ads ahead of time that publicize most of their best Black Friday deals. Looking at those ads and planning out your purchases can make it easier to ignore items you spot while you’re shopping.
Pay Attention to Value
There are some undoubtedly great deals on Black Friday, but that doesn’t mean all deals are great deals. When you’re shopping, pay attention to the overall value. How does the price compare to the regular price of the product? Is the brand reputable? Is the product likely to last? Considering these questions can help you decide if the product you’re considering is really worth it.
Black Friday can be a great opportunity to save money on your wishlist items. Plus, it can be a fun and satisfying shopping experience. But one thing it doesn’t need to be is a budget buster. These simple tips can help you snag the best deals without overspending.
What other strategies do you use to avoid overspending on Black Friday? Let us know in the comments section below!
Be sure to bookmark the Black Friday page to keep up with all the great deals I’ll be posting!
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