Whether you love it or hate it, Black Friday is coming up! Some people are all about it – they get up early, wait in line, and try to get the best deals they can. Others avoid it at all costs. If you decide to brave the crowds and chaos this year, we have some tips for Black Friday shopping to help you stay on budget and avoid consumer debt.
1. Have a budget and stick to it.
Set a budget for yourself BEFORE you go Black Friday Shopping. Be strict with yourself about how much you spend. It’s easy to overspend on Black Friday if you don’t give yourself a limit. Keep the receipts so you can add up how much you’ve spent as you go.
2. Make a list.
Besides having a budget and knowing exactly how much you are comfortable spending, make a list. Before you go out shopping, you should know exactly what you need to buy. If you know you want to buy that new video game that’s on sale for your son or daughter for Christmas, then put it on your list, and don’t get distracted by other amazing sales you see at the mall.
3. Don’t just buy things because they’re on sale.
It’s tempting, but don’t buy items you don’t need just because you think you’re getting a good deal. If it’s not in your budget and not on your list, don’t buy it. If you see a $100 item that’s 70% off, that means you’re still paying $30. That $30 could be put towards something else, like paying off debt!
4. Know yourself.
The last of our tips for Black Friday shopping is probably the most important one. Know yourself and your shopping habits. If you know that you are prone to overspending, it might be a good idea to just skip Black Friday shopping altogether. This pseudo-holiday can be over-hyped, and even the most frugal people tend to spend more than necessary. Besides, who wants to wait in line outside the mall in the cold at 5 am anyway?
If you struggle to pay off debt, ACCC’s debt management program can help. Call 800-769-3571 to speak to a certified credit counselor today!