Black Friday is one of the busiest shopping days of the holiday season. While most people wait in lines for hours to find the best deal for gifts, many will blow their budget within a matter of hours.
While the average bankruptcy case isn’t brought about solely through poor money management, most of us could still use a little help in the finance department. Even the holidays are a great place to change habits and avoid going further into debt.
The first place to start for smart money management this Black Friday is by making a shopping list. Know who you are buying for, what gift you want to buy and the budget for purchasing the gift. Taking the time to plan out your purchases can prevent you from overspending or buying unnecessary items.
While stores are offering huge sales this weekend, don’t feel pressured into buying right then and there. “Limited time” offers are usually a gimmick and many stores will be running the same, or better sales, all the way up until Christmas.
Capitalize on the competition among stores. Chances are, a different store has the same product and maybe even cheaper. Take along sales fliers and advertisements to each store and ask for price matching. Many stores will also be offering cash-back bonuses and coupons, so be sure to get your rewards and use them at a later time towards another gift on your list.
Gift giving isn’t about the best and most expensive, but the thought. Remember that the added credit card debt burden isn’t worth a few short moments of excitement over a gift, give yourself the gift of financial stability this holiday season.