Tip#3: Create a shopping budget
It’s extremely important to avoid going in blind when it comes to Black Friday. Otherwise, you’ll surely leave with less money in your pocket or bank account than intended. Therefore, after you find your desired items and their related prices, create a Black Friday budget ASAP.
If you’ve got more items on the list than your budget allows you to buy (maybe some holiday gifts that no one really needs), then adjust your list accordingly, to avoid racking up debt. “The more realistic your budget is, the easier it is to stick to it,” said former DealNews features editor Benjamin Glaser. Experts advise against buying useless things for yourself or for family members, but if you know you’re still gonna treat yourself with something, at least write it down so you don’t exceed your budget.
Speaking of budgets, check out these 7 Signs You Need to Rethink Your Budget ASAP
Tip #4: Shop online
With the CDC warning against large crowds, the best approach to this year’s Black Friday is to shop online rather than in-store. You’ll still get to purchase things, but you’ll be doing it from the safety of your own home. “Images of huge crowds during a worsening pandemic is awful optics that struggling retailers don’t need. As such, you can expect to see all the same deals online,” said Bonebright.
In addition, to comply with the retailers’ safety and social distancing rules, you’ll probably have to line up at stores and wait longer before you can get inside, to avoid overcrowding. That’s why it’s more practical, not to mention way safer, to stick to online deals, which are usually posted online way before physical stores open their doors.
Also, avoid these 7 Common Online Shopping Mistakes That Could Leave You Broke.
Tip #5: Sign up for membership programs for early access
Speaking of online deals, to make sure you score the best deals and prices and still stick to your budget, sign up for membership programs for early access. All major retailers offer their members some sort of rewards program so becoming one of them will get you access to deals, a couple of days before anyone else, Bonebright said.
Target RedCard holders, for instance, are able to enjoy some select Black Friday deals, apart from the standard discount of 5% off. Members of Amazon Prime receive 30 minutes in advance to get their hands on various Lightning Deals while My Best Buy (Best Buy’s) members get early access to great deals, before the Black Friday sale on November 16. “If nothing else, we recommend signing up for all the free rewards programs ahead of Black Friday. You can always cancel later,” suggested Bonebright.