This is an exciting week in the world of shopping, sales and the holidays. Why? Because this week is Black Friday. The last week of November has traditionally been the time of the year when our friends to the south of the border celebrate American Thanksgiving with a day of extreme sales on the Friday after the holiday.
However over time Black Friday has crossed the border and now Canadians can take full advantage of sales during this week. Some may even say this pivotal day kicks off the holiday shopping season. If you’re planning on scanning the internet or visiting stores to do some Black Friday shopping use these tips to help save even more money on top of the already good deals.
Look for sales and plan your stops
The truth is we probably don’t have time to make it to every store while Black Friday shopping because there are only 24 hours in a day. Make a list of your shopping priorities i.e. the items on sale for the biggest discount and the items you want to purchase the most. If you have extra time you can hit up your second most important stores and work your way down from there. At least if you run out of time you will have a chance to purchase the most important items before they sell out.
Keep your credit card safe
More shopping means more credit card swiping and more swiping means more chances of credit card fraud. I definitely suggest you use your credit card whenever possible while Black Friday shopping because it helps earn credit card rewards and cash back. Some credit cards also offer extended warranties on big ticket items such as electronics. If you don’t have a credit card or are looking for a new one check out this list of the best credit cards in Canada from my friends at RateHub.ca.
Don’t just buy because it’s on sale
This is a mistake made by a lot of shoppers all year round. Have you ever purchased something just because it was 60% off? I know I have. In order to control my spending during Black Friday and avoid any impulse purchases I set a budget. After I’ve established a reasonable dollar amount that won’t leave me in credit card debt I make a list of all the items I want to purchase while they’re on sale. Then I go through the list with a fine tooth comb and narrow it down to the must-have items that fit into my budget. A spending budget + a shopping list = perfect Black Friday shopping.
Join me on Twitter with my co-host @TahnyaKristina on Tuesday November 24 at 7 p.m. EST as we talk about how to use your credit cards wisely in this week’s #cdnmoney chat. Our special guest @RateHub will giving away 4 great prizes. Be sure to join us for your chance to win!