THERE’S one more week until massive savings can be made ahead of the festive season.
Black Friday (26 November) has become a calendar highlight for the budget-conscious, but the problem is you can end up spending more than saving if you don’t do it right.
Here are 10 ways to stay out of the red this retail holiday!
Tip#1: Be prepared
Don’t go into Black Friday sites or shops unprepared! This is not a time to browse and check out the sales, because you will get completely overwhelmed or end up buying much more than you intended. Avoid buyer’s remorse by sitting down and writing up a clear list of exactly what you’re looking to buy – and then you need to stick to this list. There are lots of really great deals, but you need to prioritise what it is you need right now, and not get into the mindset of ‘buy now, pay later’.
Tip#2: Check your resources
The easiest way to get into crippling debt is to spend money you don’t have. Check your finances and outline an amount you can spend safely. And just like the list, stick to your budget. Write the amount in large print and stick it on the wall if you have to, but don’t start spending your Christmas bonus and January salary before you’ve even got it.
Tip#3: Compare prices
It’s still a week before Black Friday so get out your list and check the current prices of the items you’re looking to buy. Make sure to compare a few sites so you have a good basis before the flurry of Black Friday. Some unscrupulous shops take advantage of the day to off-load unsellable items or to put an item on sale at a fractionally reduced rate. Just as you would usually do, shop around to get the best deal. You can also use price comparison tools such as PriceGrabber.com to speed up the process.
Tip#4: Have a shopping plan
If you’re going to do your Black Friday shopping in person, outline your shopping route so you have enough time to get to the items you want most. You don’t want to arrive to find all the best items are gone when it’s something you really need. If you’re buying bigger items like household appliances, you must consider how you’re going to get it home if the shop doesn’t do delivery, or charges astronomically for delivery.
Tip#5: Consider shopping online
While some people do prefer to shop in person so as to get a feel for the item, shopping online is often the most hassle-free option. Because you’re not having to travel to the shops, you’re saving time and petrol money. Plus, you don’t have to contend with the crowds. With online shopping, you can easily compare prices and take the time to consider every purchase.
Tip#6: Choose quality over quantity
If you’ve followed the tips before, you should be safe. But if you haven’t, keep in mind you need to prioritise buying quality items over quantity. When using Black Friday sales to do Christmas shopping, it’s convenient to wrap it all up in one day. But if you think like this, you may well end up with unsuitable gifts. Rather shop with intent and meaning, and remember you still have a while before Christmas if you can’t find the right gift on the day.
Tip#7: Know the return policy
This is a big one because some Black Friday deals can be real duds! Make sure the shops you’re buying from allow you to return items if you’re not happy with the purchase. As mentioned before, some sales are simply to off-load items that haven’t sold for whatever reason. You don’t want your hard-earned cash to be wasted on such a purchase, so check the return policy before concluding the payment.
