Black Friday, Small Business Saturday and Cyber Monday: Be wise with those bargains
After we fill up on our favorite Thanksgiving foods on Thursday, it’s time to make the shift to filling up our carts. Friday kicks off the official start to the holiday shopping season with Black Friday, Small Business Saturday and Cyber Monday all taking place within a few days of each other.
Despite the differences in deals you will find on these days, the strategies for having a savvy and successful outing will be similar across the board. The holiday shopping season might look a bit different this year with extended Black Friday periods and supply chain shortages, but if you follow these tips below, you’re sure to make the most of your holiday shopping trips this winter.
Have a Plan A – and a Plan B
The best shopping, whether in-store or online, will come as a result of knowing what you are looking for. Have a plan of how much you are going to spend, and exactly what that will be on. You should know what you are buying and what section to find it in. Because of the volume of shoppers and deals, it is wise to have a back-up plan of what you may need to settle for — or a back-up plan to just wait and not buy anything that day if what you want is out of stock.
Understand the offerings
Once you have made your list of what you need, make sure your selected vendors will actually have those items in stock and on sale — especially with the recent supply chain shortages. Check the sales flyers, ads, emails and websites of your planned stores to make sure that the items you want are included at the price point you are willing to spend. Be sure to pay close attention to any time limits on sales, especially when it comes to online shopping.
Stick to your budget
For brick-and-mortar stores, sticking to your budget is a bit easier if you plan on using cash. However, when you have a plan laid out, you should be able to have a budget in place alongside it. If this is the case, you will know that when you have purchased everything on your list, your budget is also maxed out — which means no impulse buys.
Don’t get tricked
In the buzz of holiday music, shiny red signs, and giant displays, it is too easy to get swept up and believe that everything you see is a great steal, or something you need. Remember, even on these mega sale days, not everything is a good deal — or even a deal at all. It is likely that items will be re-positioned in the store with the same regular price advertised in a bigger, flashier way in an effort to persuade shoppers. Again, do your research ahead of time to ensure you are actually getting a deal on whatever you purchase.
Perhaps the most important tip to remember at the end of the day is that it is all just stuff — so be kind and enjoy the experience. Consider any deals you might get from the holiday shopping weekend as bonus due to the fact that you are tackling your holiday shopping so early. Way to go, you. Happy shopping, everyone.
Kat’s Money Corner is posted on Dollars & Sense every Tuesday. Kat Hnatyshyn, when not blogging or caring for her little ones, is a manager with CommunityAmerica Credit Union. For more financial chatter, visit http://communityamerica.com.