Black Friday Finances: Dealing with Discounts

Jonathan JenkinsBy Jonathan Jenkins4 Minutes

Black Friday is known as the ultimate day for discounts. For as long as many people can remember, it has been the best day to get Christmas gifts at discount prices. However, deals can sometimes be deceptive, and it’s important to be prepared and informed before you start your shopping spree. Here are a couple of tips to help you find some great deals and avoid breaking the bank this holiday season:

Don’t Get Distracted

Stores are set up to direct your eyes in specific ways. Retail shops have turned product placement into a science and have learned what arrangements can get people to spend the most money. To avoid impulse buying and overspending during your holiday shopping, go into each retailer with a specific plan or shopping list in place. If you know what you need before you even step foot in the store, you will have a much better chance of avoiding those extra purchases that always seem to add up so quickly.

Research Prices Across Retailers

Not all deals are created equal. If you want the best discounts on Black Friday, you have to look at multiple retailers. If you think a price is great at one store, make sure to check its competitors. Many places will price match, but you also may find an even better deal than you initially expected. Investing time in comparing pricing is one of the simplest ways to save the most on gifts this year.

Check Out Online Retailers

Even though online retailers have their own shopping holiday on Cyber Monday, they will often host Black Friday deals as well. In addition to offering at-home convenience by keeping you out of the Friday crowds, you can often find deals similar to those offered in brick-and-mortar stores. Some of these deals may even be on items that you wouldn’t normally find on sale, providing the opportunity to upgrade the things you may actually need this holiday season, not just the newest toys or tech on the market. Also, many brick-and-mortar stores have expanded online as well and may offer many of the same deals they have in-store this season. By keeping a watchful eye online, you may be able to finish your Christmas shopping this year without even leaving your couch.

Look for Early Black Friday Deals

Instead of being limited to a single day, Black Friday has gradually been extended to pull people in with early sales. While this means that there may not be as many exclusive deals on Friday, it also opens up some great opportunities for shopping success. Some retailers promote products that may not warrant the Black Friday spotlight, while others are keeping deals up for longer to allow more people to take advantage of them. Whatever their strategy, look for discounts both before and after Friday’s deals. You might be surprised at what you find.

With a plan in place and a list written down, Black Friday can be the best opportunity to get your family’s gifts at a reasonable price this year. All you need is a careful eye, a bit of strategy, and an understanding of how to find the best deals. Now, all that’s left is to get out there and start searching. Happy hunting!