Many people do their holiday shopping on Black Friday and Cyber Monday to take advantage of big sales. Many retailers promote incredible deals on these shopping holidays. You can keep more money in your checking account by purchasing items at a significant discount.
But it’s crucial to take extra care not to overspend beyond your means. Otherwise, you may rack up expensive credit card debt or negatively impact your finances in other ways.
When there are so many deals at your favorite retailers, it can be tempting to spend more than you intend. However, it’s possible to honor your budget while shopping deals this holiday season. I’ll share a few tips to help you avoid overspending on Black Friday and Cyber Monday.
1. Make a plan before you shop
My No. 1 tip is to always go in with a plan. It’s more challenging to overspend if you have a shopping list ready and know which retailers have the best deals. Planning your shopping adventures takes effort, but it’s worth it.
Many retailers release their sales fliers well in advance of Black Friday and Cyber Monday. You can browse these fliers to get a feel for what’s on sale and which store will have the best price.
Doing this can make it easier to draft your shopping list. You’ll make your life easier by knowing what you plan to buy and where you plan to get it before the sales go live.
2. Set a budget — and stick to it
It’s also essential to set a budget. Knowing how much you can afford to spend will make you feel less stressed. Review your finances now so you can set an accurate budget. Keep your spending limit in mind as you shop. Remember, there will be more sales in the future. If you’re brand new to budgeting, budgeting apps can be a helpful resource.
3. Maximize your savings
There are plentiful deals to shop on Black Friday and Cyber Monday. But shopping during sales isn’t the only way to save money. Looking for other ways to maximize your savings can allow you to stretch your budget further so you’re less likely to overspend. Here are some tips:
- Use coupons: Many retailers offer promo codes and coupon codes to help you save more. Don’t forget to enter these coupon codes at checkout. This is an easy way to take advantage of additional discount opportunities to lower your shopping bill.
- Use cash back apps: Another way to maximize your savings is by using cash back apps. Shoppers can activate offers and make purchases at participating retailers to earn cash back on their spending. It’s an easy way to get rewarded.
- Pay with rewards credit cards: You can also get rewarded with the right credit card. Swiping a rewards credit card at checkout could earn you cash back or other valuable rewards.
Want to earn cash back on your next shopping trip? Click here to explore our curated list of top cash back credit cards.
4. Disconnect to avoid the temptation to spend more
If you’re worried you’ll be tempted to overspend, I recommend disconnecting from all the sales and marketing noise. That may look like unsubscribing to retail email newsletters or unplugging from social media for the day.
Once you complete your planned shopping, disconnecting can help you avoid sales messages that drag you in and encourage you to spend more. You may also want to plan an activity for the rest of the day so you have something fun to do that doesn’t involve browsing the internet.
There will be more sales in the future
Many retailers promote fantastic deals during Black Friday and Cyber Monday. But these aren’t the only days to score discounted prices. Stick to the plan, and don’t feel pressured to spend money just because something is on sale. There will be more opportunities to shop deals in the future. You can save up more money in the coming months to shop future holiday sales.
