Black Friday Shopping Plans for Wise Shoppers
Making a Plan and Sticking to it Ensures a Budget-Conscious Mindset
Nov 12, 2009
Black Friday shopping can be a successful activity if shoppers pre-plan the event and resolve not to deviate from that plan. This includes writing out a specific itinerary, staying within an established budget, using available sales incentives and coupons, and resisting impulse buying at all costs.
Making a Plan and Sticking to it
The wise and frugal shopper will be best served by preparing a specific check list for Black Friday shopping. This list should address:
- All gifts to be purchased and for whom, as well as alternative gifts if the primary one is not available
- Clipping retail coupons for store-wide discounts found in fliers and newspapers in the days before Black Friday
- Creating a realistic itinerary of stores to visit
- Comparison shop online for all gift ideas before Black Friday
Shopping on Black Friday
Shoppers that earnestly desire to stay within budget should leave credit cards at home and pay for purchases using cash or a debit card. Purchases added to credit balances will come due after Christmas and incur frequently steep rates, particularly in light of recent lending changes.
Shoppers should choose the optimum time to shop, preferably when the shopping mall or stores to be visited have the least number of customers. Recall that many Black Friday shoppers get up before the sun not only to take advantage of early-bird specials, but for the thrill and adventure.
If at all possible – and with some patience, shoppers should park as close to the entrance as possible. Black Friday is a prime time for petty theft. Any packages purchased should be stowed in the trunk of the car in between shopping excursions.
Strategies When in the Store
Assuming sales associates are available, ask if the store has any special promotions that have not been advertised. If comparison shopping, do not purchase an item without comparing the price with competitors, particularly if in a Mall with several anchor stores. Ask sales associates to hold the item for two hours as you compare prices at other stores. If you find the item elsewhere at a cheaper price but wish to purchase it from the original store visited, go back and ask if they will match the price.
Avoid promotional gimmicks that offer discounts if the shopper opens a store credit account. The interest rate will increase the price, voiding out the discount benefit at the register, and opening accounts may affect credit scores.
Shoppers should:
- Check off purchases from the check list
- Look over all receipts if using a debit card
- Keep personal information away from the prying eyes of others waiting to pay, especially if paying with a personal check
- Transport purchases in heavy-duty shopping bags
Shopping with a Friend
It is easier to follow a plan when shopping with a like-minded friend. Such shoppers are far less willing to “cheat” because of the support of others. A fun activity is to establish a Black Friday Shopper’s Club that meets before the big day to collaborate on planning and then meets as a group to shop.
The Bottom Line in Black Friday Shopping
The bottom line is simply staying within budget by adhering to a pre-planned strategy. Avoiding the use of credit also ensures that the family budget in the next year will not be hampered by high minimum payments. There is nothing worse than paying off Christmas credit card debt over many subsequent months!
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