Black Friday Shopping Strategies: How to Spend Smarter on Holiday Deals

Black Friday, the day after Thanksgiving, is one of the biggest shopping days of the year. Every year, retailers advertise their best discounts and deals, hoping to bring in shoppers who are getting a jump on the holiday season. It can feel like each year, stores up the ante, offering bigger and better discounts, often starting their sales at midnight or even before! 

Some people wait all year for the holiday shopping season to get the best prices on a new electronic gadget, a new TV or other big purchases. And smart shoppers often start thinking about how to prepare for Black Friday even before they start planning their Thanksgiving menu. But as you know, shopping during the holiday season can be overwhelming — and knowing smart purchase strategies can go a long way toward making sure that you’re prepared for what you’ll encounter whether you’re shopping in the store or online.  

If you’re thinking about shopping during the height of the gift shopping frenzy, don’t get caught without a plan. Black Friday shopping strategies will keep you away from impulse buys and will help you make smart decisions. 

Remember, preparing for Black Friday and Cyber Monday ahead of time can help you figure out problems and solve them before you start shopping and help you get the best deals. 

Read on for some of our best holiday shopping tips and strategies. And to stay on top of your finances all year long, reach out to a Farm Bureau professional. 

Tip 1: Set Your Shopping Budget in Advance 

Before you start your Black Friday shopping, it’s important to establish a budget. Holiday budgeting can be a challenge. You probably want to purchase gifts for your friends and family, but you also may be anticipating upcoming travel expenses to see family members. Budgeting for the holidays ahead of time can help you make sure you don’t overspend.  

A good place to start is by making a list of all the gifts you’d like to give and considering your spending range. This will determine how much you want to spend, or how much you can afford per person. As you shop, you’ll be able to track your spending to ensure you don’t go over your set budget. This will also help you be more mindful about prices.  

Tip 2: Bookmark Products Ahead of Time 

A good way to stay within your holiday budget is to look for the items you are shopping for ahead of time and bookmarking them in your web browser or in a spreadsheet. By doing some research online, you can know where the best deals are for each item you are wanting to purchase and even save yourself time looking for your listed products on Black Friday or Cyber Monday. 

You can even add those to your cart online. Sometimes businesses will do early special promotions before those big spending day or may even offer a discount on your abandoned cart, saving you even more money.  

Tip 3: Compare Pricing Between Stores 

Comparison shopping is smart! Remember, an easy way to manage and stay within your budget is by checking out different brands, stores and deals on the items you are thinking about. Knowing which products you want ahead of time can help you compare where to purchase them. 

Also, knowing the price history of the items you are looking for will help you determine whether something is a good deal. Just because it says “sale” doesn’t mean it’s a good price! 

Tip 4: Look for Early Deals 

Sometimes businesses will offer early holiday discounts to avoid the chaos of Black Friday and Cyber Monday. By subscribing to a newsletter, downloading an app or following the store on social media, you could get alerts on items you have been waiting to go on sale. Also, ordering early will ensure fewer shipping delays in the holiday shopping mayhem.  

Tip 5: Avoid Buy Now, Pay Later Offers 

By offering a “buy now, pay later” plan, businesses are encouraging you to buy things you can’t afford, which could put you in debt. If you’re putting anything on your credit card, it’s always important to be mindful to not spend more than you already have or will have on your next pay day. There are lots of dangers to using credit around the holidays, so make sure you use yours responsibly.  

Tip 6: Don’t Make Impulse Purchases 

When holiday shopping, it’s best that you don’t make any impulse decisions. Big purchases should be planned, especially when you are budgeting for gifts for your friends and family. Even buying a few additional items that you think won’t matter in the long run may impact your holiday budget! Stick to your spending limits.  Some retailers try to pull tricks on shoppers during this busy season to try to make you buy more, both in store and online. Avoid any freebies if you create a minimum purchase that you weren’t planning to spend, like a free item if you spend $50. “Buy one, get one” deals, free shipping and free trials are also ways that a store could deceive holiday shoppers. Remember, stick to your budget and don’t fall for these retailer tricks.  

Tip 7: Be Wary of Online Scams 

Shopping from the comfort of your own home is so nice on Black Friday. But cybercriminals are getting more creative, so it’s important to be careful when purchasing items online this year. Before clicking on emails from unknown senders, look for signs that could indicate that it is a scam — hover over links before clicking, check for typos and so on. It's important to stay safe online while you shop. While a deal may seem great in an email, it may be safer to shop at a reputable company that you know is trustworthy. Emails from unknown senders could be a phishing attempt that could fool you. Sometimes these emails or texts look real, but the goal of a phishing attempt is to steal your personal information.  

Tip 8: Start Shopping Early 

While beginning your holiday shopping earlier can help you avoid the craziness of Black Friday shopping, there are also some other benefits to shopping early. When people are looking to buy gifts for the holidays, it’s always possible that inventory can sell out. If you shop early, you can avoid needing a backup gift! Plus, by shopping early, you could scope out where some of your items may be when you shop on Black Friday, and you might also avoid shipping delays. 

Tip 9: Be Aware of Store Policies

It’s possible that store policies may change for items purchased on holiday shopping days. Sometimes stores will offer a price match, matching a cheaper price of another store if you provide proof of the deal. However, this may change if there is already a discount applied to an item.  

Here are some questions to consider when looking at store policies: 

• Can sale items be returned or exchanged?
• Is there a deadline for returning or exchanging an item?
• Are discounted items final sale?

It’s important to know the return policies, especially when purchasing items as gifts for the December holidays. Knowing the store policies may help you save money but can also impact your shopping experience.  

Budgeting for the Holiday Season

The holiday shopping season can be fun and can be a bit hectic. Be prepared for Black Friday and Cyber Monday by creating a budget and sticking to it! Consider talking with Farm Bureau to see how they can help with your financial planning.