The 2021 holiday shopping season started early, with many people shopping well ahead of traditional deal days like Black Friday. That’s due in part to fears that supply chain and other logistics issues may mean the right gifts won’t be on the shelves later this year. That doesn’t mean Black Friday and other major sales days are on hold this season, though. Find out more about avoiding Black Friday debt and making the most of the deals this year below.
Traditionally, Black Friday has been the biggest day for scoring deals during holiday shopping. Today, it’s part of the Cyber 5. Those are the five days between Thanksgiving and Cyber Monday when shoppers hit both the stores and the internet to get great deals on items for the holidays.
Get some Black Friday tips below for scoring great deals without ruining your holiday budget. Many of these tips apply to shopping throughout the Cyber 5 sales period, but you’ll find additional tips specific to Small Business Saturday and Cyber Monday below.
1. Set a Budget
Whether you love the thrill of the deal and standing in line at 5 am is your annual tradition or you prefer to shop online in your pajamas, always start with a budget. Look at your finances to determine how much you can afford to spend on Black Friday deals.
Not sure where to begin? These budgeting tips can help you set and stick to a realistic budget.
2. Make a Shopping List
Once you know what your budget is, you can build a shopping list with it in mind. Start with a list of everyone you want to shop for. List the specific items you want to buy for each person next to their names.
Never hit the Black Friday sales with general concepts like “toys for David” or “something for Mom’s house.” That can lead to decision fatigue while you’re shopping, which can cause overspending.
Include other holiday shopping items on your list, such as specific holiday decor you might want. And if you’re hoping to score something for yourself, add that in and count it in your budget.
3. Don’t Stray from the List
Black Friday shopping can be a wild ride, especially for those who like to get out early with the crowds. The adrenaline of the deal can lead you to put things in your cart that aren’t on your list because they’re such a great price or everyone else is snapping them up and you’re feeling the FOMO.
Remind yourself that you made a list for a reason and you’re sticking to it. You made the list when you had the time to think carefully about the purchases, so don’t let deal hype in the moment override your carefully laid plans and responsible money management.
4. Use Rewards Cards Responsibly and Strategically
Rewards credit cards can be a great way to reduce the overall cost of holiday shopping. If you use cards that give you cash back or rewards on travel points, you can build up a lot of perks over the Cyber 5 shopping period. Here are a few tips for doing so strategically and responsibly:
Use cards where you’ll get the most points. If you have a card that pays 5% cash back on supermarket purchases, that’s the one to pull out when scoring a great deal on a doorbuster toy offered by your grocery store.
Consider rewards cards for related Black Friday expenses. If you’ll be out all day and need to grab lunch or beverages, use a card with the best dining rewards. The same goes for using a card with good fuel rewards when you fill up the car.
Compare store credit cards with your existing card rewards. Many stores offer credit cards, and if you sign up, you may get a percentage off your purchase. Compare that discount with the rewards you might get on existing credit cards. It’s not always the best option to go with the store credit card discount.
Avoid carrying over Black Friday debt. Only use cards for what you can afford to buy in cash and pay off the balances as soon as possible.
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5. Compare Deals
Speaking of comparing things, make sure you’re comparing deals. Compare the prices on items you want at multiple stores, including online retailers. Black Friday has some great deals, but you don’t have to check everything off your list the day after Thanksgiving. You may be able to get an equal or better deal on Cyber Monday.
6. Pay Attention to Extra Costs
Consider ancillary costs and how they might impact your shopping budget for the weekend. Some costs to pay attention to include:
Taxes. Do you pay taxes on Black Friday? The answer is mostly yes, and sales tax from the holiday shopping weekend is a boost in local and state government coffers.
Food and fuel. If you’re driving all over town after the best deals, gas costs might add up. The same is true for the cost of snacks, coffees, and lunch out.
Shipping. The USPS is increasing its rates, and the overall costs of shipping are higher than ever. Avoid these extra costs by shopping with online retailers that offer free shipping deals or choosing site-to-store pickup.
7. Research Ahead of Time to Understand COVID Safety Restrictions
Check Google and business websites to find out whether they’re implementing any special processes for COVID-19 safety reasons. That includes whether you’ll need a mask to shop, what times businesses are opening, and how customers will be allowed in the building. Some stores may not allow the rush of a huge crowd as in past years, for example, and may require people to enter in smaller groups while others wait outside.
Here are a few other Black Friday COVID tips that apply to Small Business Saturday too:
Carry hand sanitizer with you if you like to use it. Even in stores that typically supply it at entryways and other locations, supplies may dwindle with large crowds.
Be prepared to be kind and patient. Many stores are operating on staff shortages due to the pandemic, and things may take a bit longer.
Stay home if you’re sick or experiencing COVID-like symptoms. You can still score great deals shopping online.
Tips for Shopping on Small Business Saturday
You can apply many of the Black Friday tips above to Small Business Saturday, including budgeting and using rewards credit cards. Here are a few more tips specific to this day of shopping.
1. Research Stores You Might Want to Support
Small Business Saturday is about supporting businesses in the community. Like other retailers, many small businesses rely on holiday sales to bolster their revenue for the year. And it’s even more important to support the businesses in your community this year, as many have struggled for the past two years during the pandemic.
At the same time, you may want to ensure your dollars are used to support businesses with values that align with yours. Research small shops online before the holiday shopping weekend and make a list of businesses you’d like to support. Visit those first when looking for gifts.
2. Arrive Early to Beat the Crowds
Small businesses may be literally small, which means less room for people in each store. Shop early on the big day to avoid crowds and cut down on safety concerns. Since smaller shops may also have limited inventories, this also helps ensure you’re able to buy the items you want.
3. Shop Online or Use Curbside Service for Convenience
Don’t forget that many small businesses created online shopping options during the pandemic, and most are more than happy to bring your order curbside. If you’re looking for convenience, have limited time to shop on Saturday, or simply want to reduce your contact with others due to COVID concerns, you can still support local businesses.
Tips for Shopping on Cyber Monday
End your shopping weekend by browsing online deals on Cyber Monday. Keep attending to your budget and stick to your shopping list while incorporating the tips below.
1. Use Shopping Portals
Shopping portals are websites that offer points, miles, or cash back when shoppers use their links to reach merchants. Typically, these rewards portals can offer between 2 and 10 points or miles per dollar, or 2% to 5% cash back. Even better, these rewards are offered in addition to any credit card rewards you’d normally receive.
2. Look for Free Shipping Offers
Shipping costs can more than double the price you pay for online goods, depending on what you’re ordering. Look for sites that are offering free shipping on Cyber Monday. You may need to shop strategically, buying numerous items on one side to score a free shipping discount by meeting minimum spend requirements.
3. Be Careful with Your Information
Only shop with reputable sites and limit where you upload your payment information to reduce the risks of identity theft. When possible, pay with options such as PayPal for added security.
Want more information on rewards credit cards for the holidays? Find even more rewards credit cards you can apply for today. You can also sign up for ExtraCredit to get tailored offers and earn cash back rewards when you apply for credit cards you might want to use during holiday shopping.
