How Not to Over Spend During Black Friday Shopping?



Posted: Tuesday, October 12, 2010

by Jenn Simpson

Black Friday shopping designed for spending. The minute you walk into a store, new arrivals, special offers and discount signs bombard your senses. There is so much to buy that most of us end up spending way more than we meant to.

According to a survey, Americans spend a close to $11 billion on Black Friday shopping in 2009; and this was when the country was going through one of the worst economic slowdowns in the history. Cyber Monday sales also rose by 8.3 percent.

Clearly, there are many attractions and distractions which encourage us to spend during Black Friday shopping. There is nothing wrong in having a shopping spree on this day. Rather, it is a great way to save money on the stuff that would cost a lot more on normal days. But, when the spending becomes overspending, it becomes a problem.

So, here are few tips to avoid spending too much on Black Friday an:Cyber Monday deals

1. Create a budget: This is the most basic step for any type of shopping. Set aside a certain amount to spend on your Black Friday shopping. This amount should not come out of your regular expenses, bills, rent, loan repayment, savings (unless you are saving for the sale only) or emergency funds. In short, only spend your disposable income.

2. Stick to list: Don’t just walk into a store to ‘look around’. If you don’t exactly know what you want to buy, chances are that you’d end up buying more than you should. So, create a list of items that you want to purchase and stick to it.

3. Pay by cash: When we use a credit card, we don’t actually see the money changing hands. This stops us from keeping the tab on how much we are spending. So, pay for all your purchases in cash and if possible, leave the ATM card at home.

4. Evaluate the offer: Many stores put up attractive offers to encourage their buyers to spend more. For example, schemes like “buy two, get one free" are designed to force you to spend twice as much as you intended. While going for such deals, make sure that it is profitable for you.

Black Friday shopping Black Friday Shopping is a huge marketing event and it’s always enjoyable to be a part of it. By just making sure that you don’t spend more than you can afford, you can make this day memorable for you and your family.

Take advantage of the latest Holiday Deals at Black Friday Shopping and Cyber Monday Deals while the offers last!
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