15 ways not to overspend the budget on Black Friday

Фото: Depositphotos

Regardless of whether you go to the shops or browse the Internet, you will find a variety of products at attractive prices on Black Friday. And with so many purchases, you can end up wasting your entire budget.

Edition Go Banking Rates suggests using the following strategies in order not to spend all the money and not get into debt.

1. Make a list of people you want to give gifts

Collect the letters for Santa and make a wish list. Then it should be rechecked again. With this, you will become more disciplined in their spending.

"It's easy to get caught up in the Black Friday frenzy and end up buying things at a good price, but unnecessarily," says Amy Chang, a savings expert at Slickdeals.

Write down the names of everyone who needs to buy a gift. Take the list with you when you go shopping and follow it. "This will stop you from putting things in your cart that you don't need," advises a former editor Dealnews Benjamin Glazer.

2. Don't waste everything on your children.

Most parents say they spend more on holidays than they should, according to a T. Row Price survey. In fact, 53% agrees with the statement: “I try to buy everything that is on the wish list of my children, no matter how much it costs.” As a result, some parents have to take money from their retirement savings to please the children.

You are not required to buy everything from their list. Instead, it’s worth talking to children about budget and trade-offs, said Marty Allenbaugh, senior relationship manager. In fact, talking about family finances can be the most valuable gift you give to your children, he said.

3. Do not make a gift to a pet in the list

According to a survey conducted by PwC, an audit firm, almost half of families across the country will buy gifts for their pets. On average, they spend $ 62.

If you want to avoid overspending on Black Friday, consider not going to the pet store this year.

4. Know what you are looking for

"My best tip for avoiding spending money on Black Friday is to know exactly what you're looking for," Michelle said from her personal blog Making Sense of Cents.

"Having a budget and a list of exactly what you plan to buy is key, so you don't have to wander around and fill your cart with a lot of unnecessary items," Michelle writes.

5. Check the prices for the desired product

Studying prices before buying on Black Friday will help you get the goods at the best prices.

"To avoid getting scammed during the biggest promotional event of the year, research the prices of the items you want to buy so you know whether the sale is a good deal or a scam," said money-saving expert Andrea Woroch.

Sites like CamelCamelCamel and MyAlerts, offer price history and notice of its decline.

Фото: Depositphotos

6. Create a store budget

After you find the prices for the products you plan to buy, make a budget for a purchase on Black Friday. Then adjust your gift list to match what you really can afford without touching the credit card.

“The more realistic your budget, the easier it is to stick to your plan,” Glaser said.

7. Do not be depressed to make the perfect gift

"The perfect gift" is a phrase we hear often during the holidays, said Donna Friedman, author of "Your Playbook For Tough Times" “Usually it’s an advertisement, but sometimes we say it ourselves,” she said. Feeling like you have to buy the perfect gift can lead to overspending.

You don't need to give an expensive gift to show your love. "And if young children don't have a concept of value, adults wouldn't want you to go into debt to give them a big gift," she said.

8. Find out how retailers can make you spend more.

Retailers use different tactics to make you spend more. You should be especially aware of these strategies on Black Friday.

For example, stores place higher-priced items in tricky places—at the ends of aisles, in the checkout area, and at eye level on shelves.

In addition, many stores specifically do not have hours, because they want you to lose the sense of time and spend more money. Experts recommend setting a timer on your phone to remind yourself how long you have been in the store.

9. To shop with a friend

Shopping with a satellite can help you keep track of expenses on Black Friday.

“When you want to buy something, ask each other if you really need it,” experts say. “It can help with financial responsibility.”

10. Leave the kids at home

Even if shopping on Black Friday was a family tradition, you might want to go shopping without children this year.

“When shopping for gifts, leave the kids at home to avoid incurring additional unnecessary expenses,” advises Sarah Skirbol, shopping and trends expert. RetailMeNot.

Фото: Depositphotos

11. Do not buy things just because they are sold

On Black Friday, you may be tempted to buy more than you need, because you do not want to miss the opportunity to save. In fact, half of those surveyed by the National Retail Federation said they only buy because the deals were too good.

12. Go to the store only with cash

Using cash during holiday shopping is a good way to stick to your budget. In fact, it is recommended that you leave your credit card at home so that you are not tempted to buy more than you can afford.

For online purchases, use the gift card that you purchased in advance in cash from the seller. Or pay by PayPal, which you can link to your bank account, depending on the conditions of the seller.

13. Determine the best Black Friday deals

To find out which retailers will offer the best prices on Black Friday, use the sites that conduct the survey. Many sites can also help find the lowest prices for the products you need.

14. Compare prices before you buy

If you shop online on Black Friday, compare prices on sites like PriceGrabberbefore clicking the buy button. So you are sure to actually get the best deal.

Фото: Depositphotos

15. Download money saving apps

Download applications such as Coupon sherpato find coupons, or use the app Santa's bag for gift list and budget tracking. And apps from retailers such as Target and Walmart, help you navigate the aisles of a store to find what you need.

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