Last Updated November 2, 2020
Wondering how to get the best Black Friday deals? Find out 10 tips for Black Friday shopping that will make sure you save the most money and get the best deals.
What Is Black Friday?
Black Friday is an informal name for the day after Thanksgiving (which is celebrated the fourth Thursday in November). It has become a tradition in the United State that the day after Thanksgiving, known as Black Friday, is the beginning of the country’s Christmas shopping season.
How Do You Get The Best Deals On Black Friday?
Here are 10 tips for Black Friday shopping to make sure you save the most money and get the best deals:
1. Make A Budget
You need to make a budget. The last thing you want to do is spend far more than you can really afford. Hopefully, you already have a sinking fund put aside for your Christmas shopping.
A sinking fund is when you set aside money specifically for a major purchase or a bill. In other words, you are basically saving up a little bit of money over time so you can prepare for the expense and it doesn’t catch you off guard.
- Related Article: What Is A Sinking Fund And Why You Need It?
If you don’t have a Christmas sinking fund, start putting aside some money now. When Christmas is over, continue putting money aside in January and save throughout the year. Even a little bit of money set aside every month will add up and take the pressure off you for next year.
2. Make A List
Make a list of the people you need to shop for and the specific items you’re hoping to get this Black Friday. You can use this FREE Christmas Shopping Plan to help you with that.
Once you have an overall budget, set a dollar amount you will spend on gifts for each person on your Christmas shopping list. Stick to that dollar amount you determined you can afford for Christmas gifts this year and don’t go over that amount.
3. Do Your Research
Make sure you do your research before you go out to do your Black Friday Shopping. This way you can tell when is a discount is a really good deal versus just reducing an already inflated sticker price to something closer to regular value.
In the weeks and months leading up to Black Friday, set price alerts for products you plan to buy during the holiday shopping season. Take note of how the price changes over time and what pre-holiday sale prices actually look like. This will help you spot any pre-holiday price spikes and avoid falling for “price cuts” that aren’t actually good deals.
4. Have A Plan (And Stick To It)
Having a plan will make sure your Black Friday is a success. Look through the Black Friday ads early and find the specific items you will buy. Some stores have pre-Black Friday sales or you can decide to wait to shop on Cyber Monday.
Do some research and start comparison-shopping for the items on your list. You can use websites like Flipp to find the best deals amongst multiple stores.
Make sure this item fits within the dollar limit you set for your Black Friday Budget. If the item fits within your budget, write down the item name, price, and the store you will buy it from.
Limit yourself to only buying these items. You don’t want to buy items you don’t really need. Focus only on retailers who will likely have the item you’re looking for. Don’t get tricked into buying things you don’t need just because they are discounted.
5. Get Rewarded For Shopping
Don’t forget to use cashback websites when shopping online! One easy way I would save money is by using online coupons and rebate sites. Two great websites I use are Rakuten and Ibotta.
If you don’t have an account, sign up right now! It is literally FREE money. When you sign up right now and purchase something you will get a $30.00 bonus from Rakuten and $10 from Ibotta.
All you have to do is go to one of these websites, search the store you want to buy from online, and then click on that store. You are redirected to that merchant’s website and you can shop as normal with your credit card, debit card or gift card.
You can use coupon codes and the store site functions exactly as if you had not come through the cashback website. After you complete your order, you will get cashback to your Rakuten and Ibotta account. There’s literally no reason why you should not be using these websites.
Finally, if you like to shop on your cell phone, check out the cashback app Drop. Drop is the free app that’s giving out millions in cash rewards for the spending you do every day. So you should definitely download the Drop app and save some money.
6. Use Discounted Gift Cards
There are so many websites you can use to get discounted gift cards. Some of the websites I like to use to buy discounted gift cards are:
How it works is people sell their unwanted gift cards to the marketplace (you can sell your unwanted gift cards too), and you can then buy a discounted gift card for some of your favorite brands.
You can buy an electronic gift card that is almost instantly emailed to you, and then print it out, or you can purchase a physical gift card that is mailed to you—shipping is free.
So for example, you can buy a Target gift card for 15% off, and use that gift card when doing your Black Friday shopping. This way you save 15% on everything you’ve purchased. DOUBLE savings if you use your gift card online and one of the websites above is offering cashback!
7. Cash Is King
Don’t rely on credit to do your Black Friday shopping. If you do not have the cash to cover the cost of the item you want to buy, you simply can’t afford it.
I’m not saying that you must only use cash when doing your Black Friday shopping, but you don’t want to have a running credit card balance.
In addition, if you will be tempted to overspend, taking only the amount of cash in your Black Friday budget is probably a better idea than using credit cards.
If you use your credit card to buy something because it’s a great price, and you do not have the cash in the bank to cover it, you will end up spending more in the long run.
For example, let’s say you charge $500 to your credit card because the deal was just too good to pass up. Assuming your credit card company charges you an interest rate of 17%, that $500 you spent will really cost you around $600 if you pay $25 every month.
When you see that you actually spent closer to $600, instead of $500, that Black Friday “deal” is probably not a good deal after all. So the point is, only spend what you can afford to buy cash.
You can set aside your Black Friday money in these FREE Cash Envelopes. These free envelopes also include a free ledger to track your spending as you’re shopping.
8. Shop With A Friend Or Relative
Black Friday shopping is faster, more manageable, and more fun with a friend or relative. Before you arrive at the store, divvy up shopping duties. For instance, you go to toys while your partner goes to electronics.
Another good strategy is to have your partner stand on the checkout line while you finish up getting items on your shopping list. This way you’ll save the most time and effort when doing your Black Friday shopping.
9. Shop Online
Shopping online can sometimes save you more money than if you were to shop in-store. Some stores have exclusive deals for their online shoppers.
Shopping online also limits the amount of impulse purchases you will make. You will more likely stay focused on your list and not get tempted to purchase additional items.
The biggest benefit of online shopping, in my opinion, is you can get the same deals without having to deal with the crowd. If you live in a heavily populated city like me, going to the store can become a nightmare.
It’s usually very crowded and people can sometimes get aggressive trying to get that “great deal.” If you shop online, you can shop in the comfort of your own home and skip all of the havoc in stores.
This is the way I personally like to shop for Black Friday deals. I normally start my Black Friday shopping at Amazon because I think they’re the best place for online deals.
Amazon will honor manufacturer price drops and match the prices of their competitors’ ads. This is perfect for me because I don’t have to go from store to store to get the best deal. I can just buy all my gifts at once making shopping much easier for me.
Right now Amazon is offering free shipping with no minimum for the holiday season. They are also offering an extended return policy where you can return items until 1/31.
Of course, Amazon Prime members get additional benefits such as discounts on Audible, Amazon Music, Whole Foods, along with other benefits.
You can sign up for a FREE 30 day trial of Amazon Prime HERE.
10. Don’t Just Buy For The Holidays
With all these great deals you’re finding, don’t limit your shopping to just the holidays. If you have birthdays or weddings coming up over the next few months, these Black Friday deals are a great opportunity to save some money on those gifts.
Overall, Black Friday deals can be a great opportunity to snag some unbelievable bargains. Before you start shopping make sure you:
- Make a budget for how much you will spend on gifts.
- Make a list of all the people you need to buy gifts for.
- Have a shopping plan, and
- Carry cash and go with a friend if you enjoy going to the store to shop.
However, I recommend shopping online to save time and money. Use these tips for Black Friday shopping to make sure you’re saving big over the holiday weekend.
- 10 Amazing Gifts Under $50 On Amazon: Oprah’s Favorite Things
- 6 Easy Ways To Save Money On Gifts Without Looking Cheap
- 7 Inexpensive Ways To Celebrate New Year’s Eve
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