The entire experience of hopping on a Black Friday can be draining and stressful, as it involves battling crowds, choosing gifts, and finding excellent discounts.
The toughest aspect of Christmas shopping for many Americans is the numerous financial stresses that the season offers, such as saving enough money for everything you need to buy and fighting to stay within your budget. According to a poll performed by Experian, almost 60% of Americans feel they normally spend too much during the holiday season.
Before you know it, Black Friday will be here, and you’ll be flooded with sales fliers and promotional emails. You may be aiming to restrict your impulse to place an order so that you can cut costs, repay debts, or keep your digital wallet balance low. But, the tempting Black Friday Marketing deals are surely hard to resist.
Holiday shopping, according to 63 percent of respondents, puts a burden on their budget. However, experts believe several simple tactics you may use to avoid overpaying during those enticing Black Friday discounts.
The following article will help you discover five profound ways to avoid wasting money this Black Friday.
1. Plan Ahead
Plan by creating a Black Friday shopping budget after you’ve determined the costs for the products you want to buy. Then, without going into debt, edit your current list to suit what you can afford.
Using an online budget builder, you can create a realistic budget that will make things simpler. This necessitates being ruthlessly truthful. If you know you’ll buy something for yourself, add it to the budget so you can at least prepare for it.
2. Shop Limited
As you begin to browse the Black Friday sale advertising, keep in mind what you truly require. Purchasing a number of “wish list” products may result in you paying more than you anticipated.
The big news is that you can follow the grocery shopping strategy to avoid buying stuff you don’t need.
This is a typical shopping strategy for grocery shopping, but it also works for Christmas shopping. Try to make a list of everyone you’re buying for. Don’t buy the stuff you don’t need for folks you weren’t intending on exchanging gifts with, just like you wouldn’t when grocery shopping.
3. Track Prices
If you like shopping through large eCommerce stores like Amazon and Etsy, you may use websites price trackers to set up a price indicator. Using those websites, you can easily see the previous pricing for the things you are interested in. Through this, you can estimate if now is the best time to buy your preferred item or if you should wait for a lower price.
4. Go On A Cash Diet
If you can’t resist a discount, especially on Black Friday, you might be better off buying with cash. This way you’ll only buy what you planned for. You can even go on a cash-only diet for the day as it will give you a fruitful return.
What’s A Cash Diet?
A cash diet entails just utilizing paper currency for all of your day-to-day purchases. This may involve paying for shopping with cash, filling up your petrol tank with cash, or paying for dinner with cash.
Let’s suppose your Black Friday cash allowance is $500. Withdraw cash out of the ATM and bring it with you for shopping. The moment you run out of money is the moment you stop your shopping. The design is simple but effective.
5. Put Quality Over Quantity
If your Black Friday shopping list includes Christmas gifts for loved ones, you may be at a loss for what to get. Focusing on quality over quantity is one technique that might help you avoid overspending. Rather than receiving several presents, purchase one or two meaningful items. Your friends and family will notice that you care when you buy gifts with intention.
How Can My EasyFi Help You With Holiday Shopping?
Holiday shopping can easily take a toll on you and your health. With so much information on new deals, coupons, and discounts, it’s easy to fall prey to mega-retailers and huge eCommerce stores. However, with My EasyFi, you can limit your overspending when it comes to holiday shopping. We provide you with timesaving and advanced financial planning software that’s packed with unique features. Using features such as smart money tracker, budget builder, and debt repayment tracker, My EasyFi lets you get a hold of your finances.
Shopping on Black Friday does not have to be an unpleasant experience. Efficient use of My EasyFi software for devising a strategy and sticking to it can assist you in buying everything you need without going over the budget. Combining these above-listed ways in your holiday shopping plan can also help you avoid wasting money.
Contact My EasyFi today and learn more exciting ways to avoid wasting money using the best financial planning tools available online!