Black Friday is taking place on the 25th November 2022. The well known shopping event is when the US tends to see some of the biggest discounts of the year and traditionally marks the beginning of the holiday shopping season. Many Amercians wait all year to grab a good discount or bargain, with fantastic promotions available both in-store and online for high-tech gadgets such as TVs and smart speakers, as well as on toys, clothing, footwear, jewelry, cosmetics and accessories to name a few.
This year, Black Friday is predicted to be bigger and better than ever. It has been reported that discounts are expected to reach record heights. Some retailers have even started their deals early since October to meet consumer needs.
With this in mind, it is certainly worth getting organized to make sure you secure the best deals this Black Friday. At Dollar Hand, we have compiled a list of the top tips to consider so that you can have a stress-free shopping season and save lots of money on gifts for both yourself and others.
Top Tips On How To Save Money On Black Friday 2022
1. Check Current Prices
If there are products in mind that you plan on purchasing, then it is certainly worth taking a note of the current price. If you are web-savvy and are looking for a product that is not unique to one store, make sure you scan through the internet to find the cheapest price possible. Tracking prices in the lead up to Black Friday will allow you to then clearly see how good the deal is and the exact saving you would actually benefit from.
This is a clever way to save money since some products may be marked as discounted but not actually have a significant reduction as retailers may be trying to exploit the holiday season hype. Some deals may masquerade as fantastic bargains but are not as good as they look, so it is easy to be fooled if you are not careful. If this is the case, it could be worth holding off with this purchase until a quieter period where there may be a larger price drop.
2. Subscribe to Your Favorite Retailers Email Newsletters Or Follow Their Social Media
Subscribe to your favorite retail stores’ emails or follow their social medias ahead of Black Friday as it is most likely that they will inform their followers of exclusive deals ahead of the big day. You may even have the opportunity to get early access and can snap up the best deals before they are all sold out.
3. Use Loyalty Programs and Discount Codes
Store loyalty programs often grant members further coupons that could help you save even more money on your discounted item or allow you to earn rewards from your purchases. There are also discount codes available from brands, such as 10% off for first time buyers. Whilst this is most commonly found online, some popular retailers may have in-store discounts.
4. Consider Delivery Costs For Online Purchases
Whilst you may have snapped up a fantastic bargain from an online retailer, you should incorporate postage costs into the total price. As a result, the item may not be as good of an investment as you hoped. Check if there are cheaper delivery options such as buying the product online and picking it up at a store for free. Or you could consider “Standard Delivery” rather than “Next Day Delivery” as this will help you to save a few extra dollars.
5. Budget carefully
Whilst this may seem obvious, it is important to keep track of your finances during this busy period. It is very easy to get caught up in the excitement of Black Friday specials which are designed to get you shopping for things you may not have intended to buy, so do your best to resist impulse purchases, especially if you’re not actually sure how good a deal is.
Decide ahead of time what you intend to buy and set aside a budget for your holiday shopping to make sure you do not overspend. Putting money aside over the year for this big event could also be a good option so that you are in a strong position to purchase the bargains that you need. This will help you to avoid debt or the need to borrow money if your funds run low.
6. Find Out Store Policies
Of particular importance is finding out store’s return and exchange policies as these can often be more restrictive when it comes to discounted goods. Check if the product you are purchasing can be returned or exchanged, and if not make sure that you are committed to definitely keeping it.
It is also worth finding out if stores have a price-match policy as this can be particularly useful. For instance, if a discounted product you want cannot be returned or exchanged in the shop you had in mind, then find out if it can be price matched in another store which does offer returns or exchanges on reduced items.
7. Look Into Cashback Rewards
Cashback is a rewards program whereby customers can earn back a percentage of the money they spend whilst shopping. This can be achieved through debit or credit cards, or via online companies that offer cashback from a selection of brands. It is a no brainer to do research into this as you can save significant money from cashback reimbursements.
8. Consider Using A Credit Card
With the large shift to buying online, it is not surprising that most consumers will be using credit cards to pay for their purchases. Credit cards offer a safe way to shop since spending is usually covered under Credit Card Purchase Purchase. This means that if anything goes wrong with your online order, your credit card provider is jointly liable with the supplier to reimburse your payment.
Other benefits have meant that there has also been a reduction in the use of cash and a rise of card purchases in-store. However, it is important to be aware of your credit card limit and to not spend more than you will be able to pay off as this could potentially lead to interest charges depending on the terms of your credit agreement.
Store credit cards have also become an increasingly popular option. However, it is also important to be wary of interest-free promotions as if you do not pay off the balance before the promotional period ends, you will have to pay interest on the full amount of the purchase, even if you have paid down some of the balance.
9. Do Your Research
Do not buy items such as a cheaper television model just because it has the lowest price. Sometimes the price may be low for a reason and the product may not be good quality or may be older technology. It is important to investigate the product you are buying to make sure that it’s not only a good price, but works well too.
Justine is a full-time writer with lots of expertise and a wealth of experience in the financial world. In particular, she specializes in household income and consumer finance across the United States. Follow her articles for useful advice and top tips, guides on how to save money and lots more.