Black Friday and Cyber Monday are around the corner! This year, the two will be happening on the 26th and 29th of November. So, are you spending more time online looking for what to shop for? 

Well, you are not alone. I’ve been planning to get a new laptop and possibly splash some extra money on a camera and a new phone. So, I have been spending a lot of time on Amazon comparing prices and reading customer reviews. Pretty unhealthy for someone whose savings can’t manage to buy everything she wants. 

Anyway, I have started looking for ways to ensure that I’ll be smart if I spend during Black Friday and Cyber Monday. Here’s how you can do it, too:  

But first, have you downloaded our free Financial Success Road Map?

Top Tips For Smart Spending on Black Friday and Cyber Monday 

Maybe you have been saving for a while now to spend money on Black Friday and Cyber Monday. Perhaps not. Whatever the case, you still need to be smart about your spending during this season. 

We already know how crazy it can get when you enter a store or shop online, and offers are flying your way. But, more often, you end spending more than planned and buying things you do not need. 

That’s why you need to be smart about your spending during Black Friday and Cyber Monday. Here’s how you can go about it:

Is your budget not working? What To Do If a Budget Is Not Working For You

1. Shop With a Plan

If you suffer from impulse buying, make a list of everything you need to buy ad how much you are willing to spend. But this should not apply only to individuals who have a problem with impulse buying. You might think it doesn’t affect you, but the minute you start shopping online or enter a store, everything on offer starts attracting your attention. 

So, as you prepare for Black Friday and Cyber Monday, have a plan of what you want to buy and your budget. This ensures that your focus is just on items you need. It will save you from running around the store or scrolling through all pages of online stores looking for what to buy. 

2. Confirm the Prices

You wanted to upgrade your TV or fridge, and the offer price you are seeing from supplier A  seems pretty good. It will save you a couple of bucks, and that sounds good enough for you. But here’s the thing, take a step back, take a deep breath, and keep looking. 

You need to compare offer prices from different sellers the same way you do when buying any typical day. First, check what the other online and brick-and-mortar stores are offering. Who has the better offer, in terms of the price and shipping costs? 

3. What’s the Price History? 

Don’t forget to check the historical prices of the items you are interested in. you already know that some stores and suppliers are notoriously famous for keeping the same price while disguising it as an offer. Others will increase their prices a few weeks or months to Black Friday and Cyber Monday only to reduce during this period. 

Tracking previous prices will tell whether you are really getting a discount or not. If it has been the same or lower in the previous months, then that’s not a feal you are getting. Luckily, numerous websites do the job for you. Just search for the ones that do this in your region or where you are shopping from. 

For instance, I wanted to get a new laptop from Amazon, so I used Camel Camel Camel to track prices. While some have deals at the moment, I have realized that some of the items had way lower prices a few months back. For me, it has only made me a little bit more patient, organize my finances and wait. So while I want to upgrade, I still have a working laptop I can rely on. 

4. Confirm What You’re Buying 

Is the product you are buying new in the market? Is the store trying to get rid of old stock? Sometimes, the retailer could be pushing to get rid of old stock that is not popular or from new brands. While the deal is sweet, the product could be faulty a few months down the line. Ensure that you always stick to items of quality you are after. 

Black Friday and Cyber Monday are often an excellent start for anyone who wants to shop for the festive season at a discount. Or maybe you have been saving for something you want and this period looks like the best opportunity you have. While this might be true, you still need to pay extra attention to ensure that you spend smartly. That means you are not spending more than you have budgeted or are not being blindsided by these deals.