Being stuck in the Black Friday and holiday shopping frenzy can be a hassle. Overcrowded stores, bait and switch ads, and overpriced “deals” are not only stressful but can cause a major blow to your household budget. To protect you and your pocket book from the Holiday Shopping Hustle, here are 9 Money Savings Tips for Black Friday Shopping.
Avoid Peer Pressure Purchases
When shopping with family and friends, be careful not to fall into the trap of Keeping Up with the Purchasers. Just because your shopping cohorts are shopping like crazy doesn’t mean that you can afford and have to. Walk away if the temptation becomes too much.
Beware of Bogus BOGOs
Buy One Get One offers for items that you had no intention of buying are budget busters. Protect your cash flow by only getting the BOGOs that are on your shopping list.
Create Your Santa’s List
After establishing your holiday buying budget, instead of making a list of gifts to buy, create your Santa’s List of family members & friends that will get gifts. Everyone does not have to and should NOT Make The List. Send those who were naughty holiday cards.
Ditch the Debit and Credit Cards
Using credit and debit cards can cause overspending, especially if you don’t keep track of the cost of every transaction. Use CASH to protect your holiday buying and household budget.
Have the “Gift” Talk
Have a conversation with other adult family members to only purchase gifts for kids under 18 years old or, to set a limit of a certain amount, like $20, to pay for gifts for the adults. With this economy, everyone will more than likely understand and appreciate the suggestion.
Know Your Limits
Set the maximum amount that you can afford to spend on holiday gifts before going shopping. Your holiday shopping budget is the amount you have saved or can save between now and the big holiday. Remember, if you can’t save for it, you probably can’t afford to borrow for it.
Stop Brand Name Dropping
The biggest Black Friday budget busters are Name Brand gifts. Not everyone deserves the VIP (Very Impressive Present) treatment. Some people deserve and will be just as happy with the generic or store brand gift.
Support Small Businesses
Avoid the headache of the holiday shopping frenzy by shopping at small businesses in your community. As a gift to family & friends that sell products and services, buy gifts from them for others. Take advantage of the great deals the day after Black Friday during Shop Small Business Saturday.
Visit Virtual Businesses
Get great buys from businesses with online or virtual stores. You will save money, time and avoid the holiday shopping frenzy. Most retails stores and small businesses have special deals on the Monday after Black Friday during Cyber Monday. Also, start shopping a few weeks before the big holiday to avoid paying for expedited shipping.
Holiday shopping doesn’t have to be stressful if you follow these money saving tips. Happy holidays and remember to Spend Responsibly.
Originally published November 25, 2014