Black Friday and Cyber Monday automatically mean they will require some major shopping plans. You can make a monthly budget in advance so you can control your spending during this holiday season. Making a shopping plan doesn’t mean that you add all the things that you want, because again that will only lead to you overspending money.
Do you know that in 2019, shoppers spent $16.8 billion on online Black Friday and Cyber Monday sales? But then 2020 came and people had a tough time with finances. However, this year is going to be one of the best in the history of Black Friday and Cyber Monday.
It is better that you plan in advance, make a list to save money and stick to your budget. It is also essential to use all the Black Friday hacks out there to avoid overspending while you shop. Without any further ado, let’s get started.
Plan your spending
An average Black Friday shopper incurs an expense of $300 between both days. The question is do you have the capacity to spend $300 for these two days! You can save the money in advance, and it’s not necessary that you have to spend $300. It can be more or less depending on your needs.
You can make a monthly budget in advance so you can control your spending during this holiday season. For that, have a look at your bank balance, your income, and based on that decided amount that you can spend comfortably for the sales this year.
Be true to yourself and do not overspend money if you cannot afford it. There will be a lot of things that you would want, but not all wants are needs. That’s why you have to learn to control yourself and stick to your list and budget.
Make a shopping plan
Now that you have your budget in place, let us get into your shopping plans. The shopping plan doesn’t mean that you add all the things that you want, because again that will only lead to you overspending money.
Have a look at the items that you have in your home. Look at the inventory and, based on that, make a list of what you actually need. Ask yourself: Are you saving money while holiday shopping?
Answer questions such as: Are you planning to buy gifts for your family or friends this holiday season? Are you planning to restore some of the items in your home? You can make a list of gifts for each person, you can assign a budget to each of the gifts and make your shopping list.
The same thing can be done with the items you need for your home. Decide on a certain amount to spend. For example, if you want to buy a table, you can allot $100 to it and stick to it.
What should you buy?
There would be a lot of things on Black Friday and Cyber Monday but that doesn’t mean that you need everything. You can get some of the best deals during these holidays in the following categories. You can check what you need and make your buying decision.
- Mobile phones, TVs, smartwatches.
- Video games, movies and entertainment products.
- Branded makeup, beauty supplies and cosmetics.
- Shoes and clothes.
- Home products and appliances.
Now that you know what is your budget and have a list as well, it is time to think about how you can save money.
You would find many stores as well as online shopping sites that offer huge discounts. If you have made a list, you know the things that you want to buy. Compare the items on in-store and online platforms. Even websites like Wikibuy can help you track and analyze prices.
Make use of ads
Many retailers and online shopping platforms would have posted ads for Black Friday and Cyber Monday sales. Check them out and find the best option available to you. They can be a great way for you to save money and avoid overspending.
Cashbacks and rewards
You can also check extensions like Honey, Rakuten, etc. for getting cashback and rewards on your shopping. There are many websites that let you shop for the holidays at a great discount and at the same time give you rewards and cashback.
So make the most of it. If you are going to shop in-store, you can check out sites like Ibotta for getting benefits. Meanwhile, here are some more tips on how to save money even if you love to spend.
Still need some extra cash this holiday season, use Line. Get Cash Now. Pay Later with Line.
It is very easy to get into buying just that one extra item that you want but don’t need. It is very easy to get into temptations and overspend money. Make sure you respect your finances and stick to your budget in order to truly enjoy this festive season. Happy Holidays!