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Deal or Dealbreaker?: How to (Smartly) Spend on Black Friday

'Tis the season for savings. It happens every year - the latest gadgets and more drop in price, making those purchases more tempting than ever. If it's cheaper, does that make it a smarter spending decision? Not quite. Making these decisions can be difficult all year long, but especially during the "most wonderful time of the year."

It's important to plan for your Black Friday spending

Black Friday shopping can be fun and a great way to get in the spirit, but there are some things to remember if you want to get the most out of your Black Friday shopping experience.

  • First, it's important to plan ahead. Black Friday deals come and go quickly - do your research and make a plan. It's important to set yourself a budget before Black Friday rolls around; that way, you won't end up overspending or regretting any purchases later on.

  • Second, Black Friday shopping can be overwhelming. Don't rush into any purchases - take your time to consider each item and compare prices between different stores. Keep an eye out for specials or deals that are exclusive to Black Friday and might not be available after the event has ended. It's also a good idea to check store return policies before Black Friday begins; some will have stricter return policies than usual during this time period.

  • A "50% off" can make something extra tempting, but if it wasn't a part of your shopping list or an interest of yours prior, you probably won't find it useful even if you purchased it for cheaper. Many stores and companies aim to make products more in-reach during this time. It's natural to be more tempted than before.

  • On the other hand, Black Friday can be a great time to pick up something you need or have been saving up for. Take this opportunity to compare prices between different stores, read customer reviews, and test out items like TVs or laptops before making your purchase.

It's important to remember Black Friday isn't just about getting discounts - it's also about being mindful of where you're spending money. So, make sure to plan ahead and shop consciously this Black Friday season for a successful shopping experience!

It's also a great time to discuss with the family what smart spending looks like. Advertising, flashy signs, and big discounts are eye-catching - but don't always mean it's the right choice.

Want some more resources on having smart spending decisions? Check out FitMoney's online $uperSquad program for games and activities to teach kids what it means to spend smartly.

Black Friday spending plans can be made as a family!


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