Black Friday Deals: Are You Really Saving Money?

I can’t believe it’s already November! It feels to me like the months come quicker once October rolls around (not that I mind, as I’m not a fan of the cold). I used to anxiously await Thanksgiving and the beginning of the holiday season, but I’ve been noticing Christmas commercials on TV since the day after Halloween. Some may think it’s a bit outrageous, and it might be too early, but since I’m a planner by nature, I’ve been thinking about gift shopping for months already and the ads I’m seeing feel fitting. Holidays don’t have to mean spending a fortune on gifts, but budgeting for even small items in advance can make the weeks leading up to whatever holiday you celebrate a lot less stressful. Some people, myself included, are already on the hunt for the best deals on particular items, and they’re scoping out which stores can offer them the most savings. My inbox is already overflowing with Black Friday sneak-peaks! But does the busiest shopping day of the year really live up to all the hype? I haven’t been one of those people that stands in an hour-long line outside of a store, but I have gone out shopping on every Black Friday for the past several years, and I think I learned a thing or two about how to score a deal, and when you’re just wasting money. If you’ll be braving the crowds this year, keep a few of these tips in mind to be sure you’re saving and not splurging…

Know what you need. Create a list of items you’re hoping to buy. The biggest way you can waste money is by going out without an agenda, when you’re more likely to make impulse purchases. Tons of stuff will be on sale, and while they might seem like bargains, it’s really just unnecessary spending unless you really need to buy it.

Do your research. If you’re in the market for big-ticket items, such as electronics, compare product reviews before you head out to the store and make sure you’re getting items that are worthwhile and fit what you’re looking for. There’s no point in spending money on something that many others have found to be unsatisfactory, or of poor quality.

Plan ahead and compare prices. A lot of places will offer deals on the same items, such as televisions, tech gadgets, etc. Browse store ads before heading out to see what’s being offered and where, so you know which stores are worth venturing out to. However, be sure to read the fine print! While one store may offer a cheaper TV, that price may only be valid until a certain time or within limited quantities, while another place may offer an unrestricted discount on the same item for a few dollars more. It’s also a great idea to check prices with online retailers. Many sites will offer free shipping as a perk.

Make cash purchases. If you’ve budgeted for what you’re hoping to spend, take that with you in cash. If you bring your credit card along, you’ll be more likely to overspend.

Get a head start. Many stores now start offering discounts up to a few weeks before Black Friday. Keep an eye out for promotions in the mail, as well as your inbox. You might be able to save more AND beat the crowds!

Check the return policy. Make sure any items purchased can be returned for the full price spent. You wouldn’t want to get stuck with something you don’t need or you’ve changed your mind about.

Stay home. Don’t really need anything you see in the ads? Then don’t go out! It’s fun to browse sometimes, but the biggest shopping day of the year isn’t your best bet for that. Avoid the temptation altogether and venture out for smaller items you might be looking for at a later date.

Do you brave the crowds in search of Black Friday deals? Share your favorite shopping tips with us!