Things to do when shopping on Black Friday

There's a lot of hype surrounding Black Friday. It's the biggest discount day of the year for brands. But if you don't prepare and choose wisely, you're vulnerable to being taken advantage of by retailers. If you want to be a smarter shopper, here's what you should do on Black Friday.

Budget ahead

It's easy to get carried away by what seem like great deals that you "can't miss." But shopping blindly and letting your emotions take over often leads to regret and a big credit card balance later. Plan ahead. How much can you really spend on Black Friday? Having a clear plan can help you spend more consciously and avoid impulse purchases. If you're not sure where or how to start, there are budgeting apps tailored to your specific financial goals and general budgeting techniques that can help you get started.

 

Know what you need/want

In addition to knowing how much to spend, knowing what you really need or want will help you stay focused and avoid unnecessary purchases. Make a list of the items you need or want. If you shop on Amazon, you can use similar tools from Prime Day to set price alerts or make a list of products you want to watch. Not everything may be on sale, but if it is, you'll be prepared and feel good about it.

Use the available help tools

There are plenty of apps that can help you shop smart. Choose a reliable price tracker or comparison site. First, it will keep the items you want to track organized and easy to access. Second, it will track the prices of those products and notify you when they go on sale at any major retailer. You can check the prices of those products before the sale to see if they are really a good deal or a ploy by retailers to take advantage of you, and even compare them to other major retailers to see who has the best deal. If it was cheaper before, it may be better to wait for another sale.

Buy online early

Black Friday sales are definitely starting early, as they do every year. Shopping early means you'll be able to secure a lot of in-demand products that are likely to sell well, and as previous sales have shown, items that sell out ahead of time aren't always restocked for the actual event. Your best bet is to buy them early if they're a popular item that's already discounted.

To avoid the crowds and the possibility of being trampled, try shopping online. Most Black Friday shoppers plan to go in person. However, retailers know that many people still shop online. So they also offer their best deals to online shoppers, making the event more appealing.

These are some tips for good shopping on Black Friday. If you have any other tips, please share them with us!