Do you usually find yourself overspending, or worse – stuck with buyer’s remorse once Black Friday’s over? If so, today’s episode is for you. I’m giving you my nine tips for Black Friday success so that you can rock the holiday season without the financial hangover. Sound like something you need? Well then, let’s get started.
Links for This Episode
- Check out these DIY Resources and Templates
- Download your FREE Holiday Budget Worksheet
- Join the Financial Fix Up Membership
Podcast Episode Recommendations
- #34: 7 Simple Ways to Save Money This Holiday Season
- #33: 5 Ways to a Have Successful Thanksgiving on a Budget
- #32: How to Have Stress-Free Money Conversations with Family
- #31: So You Can’t Afford Christmas This Year, Now What?
- #30: How to Create and Stick to a Holiday Budget
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How to Make Black Friday a Budget-Friendly Experience
Well hey there and welcome back to the Financial Fix Up Podcast. I’m your host, Sarah Brumley, and with the holiday season just around the corner, I thought today would be a great time to discuss Black Friday and how to make it a budget-friendly experience. Obviously, Black Friday can be a fantastic opportunity to save money, but that savings really comes down to having a solid plan in place ahead of time. Without that plan, it’s so easy to overspend or even get pulled into buying things you don’t need. So today, I’m hoping to give us a crash course in making Black Friday a win for your wallet.
And before we do that, though, I want to ask – are you on my email list? Because if you aren’t, you’re missing out! Each week I send an email filled with a variety of budgeting challenges, strategies for maintaining your home, frugal family fun ideas, meal planning tips, meals of the week, and even some behind the scenes updates. My goal is to make it worth your time and hopefully offer a bit of inspiration. So, if you’d like to get on the list, you can do so by heading to lemonblessings.com/news OR by following the link in the show notes.
Step #1: Prepare Ahead of Time
First things first, let’s talk preparation. Black Friday isn’t something you want to jump into without a game plan and that starts with – you guessed it! – setting a budget. And if you’ve been following my holiday episodes, then it’s likely that you already have your holiday budget in place, but if that’s not the case, definitely head over to lemonblessings.com/holiday and grab your FREE Holiday Budget Worksheet to get you on the right track.
Tip 1: Set a Black Friday Budget
Once you’ve completed that, it’s also important to consider setting a Black Friday Budget. If you know exactly how much money you’re willing and able to spend overall, you’ll be a lot less likely to get swept up in the excitement of every “deal” you see.
Tip 2: Make a List
Next, it’s important to write down specific items you’re looking for, whether it’s holiday gifts, household items, or even something for yourself. Because, the truth is that a lot of time we use those Black Friday sales for items that aren’t holiday-related, right? No matter what you choose to purchase, just know that when you have a list on hand, you’re less likely to buy things on impulse.
Tip 3: Do your research
My third tip is to research items you’re interested in ahead of time. Look at prices across different stores, check reviews, and compare the specs. That way, when the sales come around, you’ll know if it’s a real deal. You can even continue the price comparison as you walk through stores, verifying that you can’t get a better price at a different retailer. In fact, many store now price-match, even during Black Friday, so look for deals elsewhere that might apply.
Also, don’t let the percentage off be the only factor in your decision. Sometimes a smaller discount on a high-quality item is better value than a bigger discount on something cheaply made.
Step #2: Shopping Smart on Black Friday
Okay, now that you have your budget and your list in place it’s time to talk about how to make sure you stick to the plan on Black Friday.
Tip 4: Avoid the “limited-time” trap
One of the things that makes Black Friday so appealing is the sense of urgency that comes with the countdowns and “flash sales” and doorbusters. And, while it’s true that some deals are time-sensitive, it’s important to remember that most Black Friday deals pop up again. So, don’t let the “fear of missing out” make you stray from your list or budget.
Tip 5: Use cashback apps and rewards
If you want to stretch your budget a little further this holiday season, one way to do so might be using cashback apps. Upside is one of my favorites, and I’ll link to it in the show notes, but bank rewards programs, store rewards, and coupons you’ve collected can often offer savings as well.
Remember, cashback and savings only really help if you’re buying something planned. It shouldn’t become a reason to pick up extra items.
Tip 6: Stick to your list
No matter what, the key to all of this is to stick to your list. And a good way to do so is, once you’re done checking off everything you need, avoid browsing “just in case”. It’s easy to convince yourself you “need” something when you’re browsing. So, save yourself and your budget and just don’t do it.
I also love taking a moment while I’m in those long Black Friday checkout lines to sort through my cart and make sure each item is necessary. More often than not I’m able to identify an impulse buy I don’t need and put it back on the shelf.
Another thing to consider is to write your goal at the top of your list. For example, if you’re trying to stay out of debt this holiday season, make a note of that, or maybe you really want to take a vacation in the Spring. Write that down. Sometimes just a little reminder can make all the difference when it comes to sticking to the budget, holiday or otherwise.
Step 3: Post-Shopping Tips
Alright, so let’s say that you’ve tackled Black Friday, you stuck to your budget – yay! But before you celebrate, let’s go over a few final steps to make sure everything goes smoothly.
Tip 7: Check your receipts and return policies
Make sure you double check prices, especially for major purchases. And remember, some items purchased on Black Friday may have different return policies, so be sure to understand those in case you need to make a return. Personally, I like to have an envelope with my holiday receipts all together so that I know exactly where to find one if I need it after Christmas. By creating a system now, you’ll likely save yourself some unnecessary frustration in the future.
Tip 8: Complete an Inventory Check
Another thing to do immediately is inventory check your purchases. Like tracking your receipts, keeping a list of all of the gifts you’ve purchased for the holidays can not only help you avoid duplicate purchases in December, but you’ll be less likely to forget you bought the item entirely and have it resurface sometime in July. Don’t ask me how I know. Hehe.
Tip 9: Track your spending
After you’re done shopping – and this applies to EVERY SINGLE TIME YOU GO SHOPPING – take a moment to check if you stayed within your budget. If you were careful as you created your list ahead of time, this shouldn’t be an issue, but it’s always good to know where you stand before you press on into the holiday season. If you did go over your budget, decide if you need to make a return or whether you can adjust something else within your holiday budget to accommodate for that overspending.
Will You Have a Budget-Friendly Black Friday?
So, there you have it, my nine tips for a successful Black Friday. And of course, you can apply these tips to any shopping trips you make over the holidays, but by making Black Friday budget-friendly, you’re setting yourself up for a smoother, less stressful holiday—and you’re one step closer to starting 2025 on strong financial footing.
If you have yet to grab your copy of the Holiday Budget Worksheet, you can do so now by heading to lemonblessings.com/holiday or by clicking the link in the show notes.
Whatever you decide, just know that I’m cheering you on! You’ve got this! Have an amazing day and I’ll chat with you again next time!
