Black Friday deals: Shopping and budget tips

Black Friday is here, and retailers are pulling out all the stops to lure in shoppers with flashy deals and promotions. However, amidst all the excitement, it’s important to shop smart and avoid getting caught up in the sales frenzy. Deidre Cross, the founder of Ohh You Budget, shares some valuable tips on how to navigate Black Friday without overspending.

One key tip is to use prepaid cards or cash when shopping in person. This can help prevent impulse buying and ensure that you stick to your budget. Cross advises against using credit cards, as they can lead to overspending. By setting a specific budget and only bringing cash to the mall, you can avoid the temptation to splurge on unnecessary items.

It’s also important to differentiate between needs and wants. Make a list of items you truly need and prioritize them over impulse purchases. Cross recommends comparing prices and sticking to your budget to ensure you don’t overspend. This year, she has set a limit of $400 for Black Friday and Cyber Week sales and is determined not to exceed it.

Another pitfall to avoid is buy now, pay later schemes. While it may be tempting to spread out payments for a big-ticket item, this can have long-term consequences for your budget. Cross warns that these schemes can tie up future paycheques and lead to financial strain down the line. It’s important to consider the impact of these purchases on your future financial goals.

Looking ahead to the post-holiday season is also crucial. By sticking to your budget during Black Friday sales, you can ensure that you have the funds to pursue other goals in the future. Whether it’s taking time off work or planning a vacation, overspending now can hinder your ability to achieve these aspirations later on.

Additionally, don’t overlook the deals offered by grocery stores during Black Friday. Stores like Walmart Canada and Shoppers Drug Mart often have discounts on personal care and holiday items. Cross suggests shopping based on flyers and stocking up on essentials for the holiday season. By being strategic with your grocery shopping, you can save money and avoid overspending.

In conclusion, Black Friday can be a great opportunity to snag some deals, but it’s important to shop wisely and stick to your budget. By following these tips from Deidre Cross, you can make the most of the sales without breaking the bank. Remember to prioritize your needs, avoid buy now, pay later schemes, and think about the bigger financial picture beyond the holiday season. Happy shopping!