Can You Really Save Money on Black Friday?

Ah! the good old days when the Christmas season — and the heavy commercialization push to spend money — didn’t start until the day after Thanksgiving.

Those days are gone. Likely, you’ve seen some type of Christmas marketing since the summertime. It’s become a year-long affair, with the year-long debts to pay for if you’re not careful.

Historically, Black Friday is the biggest shopping day of the year, a day when retailers count on their sales being “in the black” or making a profit, versus “in the red” which signifies a profit loss.

Businesses would slash prices and offer Black Friday deals in order to edge out the competition. As a whole, I think the American people have been conditioned to expect good Black Friday sales and Cyber Monday deals so much that we count on spending money that first weekend after Thanksgiving.

These days with higher costs and shrinking product size and quality, you can’t count on much else. You can’t even count on when the sales will start as they start them earlier and earlier, increasing your feelings of FOMO and extending your shopping season.

To save money on Christmas, you have to be the smarter player in this game. After all, why do Thanksgiving on a budget and then blow the savings on bad Black Friday deals?

Planning to Save on Black Friday

I think there are good Black Friday deals to be had, but only if you are a savvy shopper. If you want to see some real money savings, then you’re going to need to go in with a plan.

Make your Christmas lists as soon as you can in the fall, your Christmas to-do list, your Christmas bucket list, and your list of gifts to give. This information will help you make the best shopping decisions and maximize your savings.

When you know what you plan to do and gift this season, you can dig a little deeper and have a strategy going into Black Friday sales.

Consider these best practices:

1. Take a look at your budget. If you don’t already have a Christmas budget, now is the time to make one. Once you’ve accounted for groceries and other necessities, how much do you have left to spend? If that number is low, then you’re going to need to be very strategic in your spending so that you can save on Black Friday and into December.
2. Inventory your home, take note of what you already have as well as what you might need where it concerns Christmas decor, housewares, and electronics. Are there legitimate needs that a Black Friday purchase might fill? Likewise, do you already have too much? Don’t buy on a whim. Know what you actually need.
3. Audit your spending at your favorite retailers. Many stores and businesses offer gift card discounts this month. If you know how much you spend in a year and can afford to spend that cash from savings, you can buy yourself gift cards to use in the coming months. In this way, you’ll get a discount on your future purchases. Just be sure that you pace yourself in spending the gift cards, otherwise you’ll negate the savings. Spend gift cards like cash.
4. Consider your subscriptions. Many apps and subscription services offer discounts. Perhaps this is a time to join a service that you’ve been thinking about but can do so at a discount.
5. Prepare your gift list. Do you know who you will be giving Christmas gifts to this year? Create a list along with some ideas of what they might actually like. Again, don’t shop on a whim. Shop with a plan.
6. Clean your closet. Are there gaps in your mix-and-match wardrobe? Make a list of the items it would be nice to have.
7. Start a list of household needs for next year. It may be hard to think about these things now that you’re on the spot. Start keeping track of needs that arise so that you can be on the lookout for the right Black Friday sales.

Tips to Save on Black Friday

Once you’ve done some thinking and planning, you’re ready to shop. But before you head to checkout, ask yourself the following questions so that you can truly save on Black Friday.

1. Do I need this?

Remember, “enough is as good as a feast.” Repeat that to yourself three times a day.

We live in a culture of excess and are often tempted to buy something we like instead of limiting ourselves to the things we truly need, love, and use.

Don’t get me wrong. It’s your money to spend. And if you really have the money, I think you have the freedom to spend it how you would like.

However, usually we spend money on things that we don’t really need OR want. So, examine yourself and your desires first. Do you need it?

2. Do I need it NOW?

I am all for anticipation buying. I stockpile regularly on items that I know our family will use in the very near future.

But, I’ve been burned too many times buying things that we might need a year from now and actually never used.

Think through your purchase. Do you need it right now? Unless it’s an absolute killer Black Friday deal (they rarely are), if you don’t need it right now, you can probably wait on the purchase. To save on Black Friday might be not to buy it at all!

3. Is this a quality product?

I have a friend who works for a major retailer as a store manager. She speaks rather disparagingly about many of the items in their Black Friday ads.

She thinks the products are junk. Even if it’s only ten bucks, why buy junk?

If you wouldn’t buy it unless it was on sale, it’s probably not good enough for you.

4. Is this really a good deal?

Do some price comparison to see if the advertised special really makes cents. Will this sale help you save on Black Friday?

My experience has been that the deals on Black Friday are not a flash in the pan. We usually see comparable sales again throughout the holiday season.

Don’t feel pressured to buy because the price might go up. Additionally, be sure that you can return it if you find a better price elsewhere.

5. Is Black Friday shopping worth the stress?

If lugging the kids out in the snow to buy the $3 turtlenecks only to find out that they’ve all been snatched up is a stressful experience, don’t do it.

(And yes, it is a stressful experience. Ask me how I know.)

Avoid a stressful Christmas season wherever you can.

There is a cost to everything. And the stress involved in shopping on busy, crowded days can take a toll on us and our families. And it’s not a great way to enter the Christmas season.

Asking yourself these five questions can help you save on Black Friday. You may, after all, decide it’s better to stay home with a bowl of Pilgrim Minestrone and watch a Christmas movie.