Black Friday 💰 5 Smart Shopping Tips to Save More Money💥
Black Friday is a thrilling event for those seeking great savings! 💰
But, as with any shopping spree, strategic spending is key. In navigating the excitement, try approaching the deals with a bit of wisdom 💡
At Spendee, we know that personal finance & wealth are among your top priorities —so we're bringing you some essential tips and tricks to ensure your Black Friday experience will be pleasant.
1. Write down what you want to buy
Before buying anything, write down a list of things that you've been wanting to buy for a very long time. We recommend dividing them into these groups:
- personal needs,
- personal wants,
- gifts for someone else,
- self-improvement.
Personal needs — it can be anything that is essential for you and your family and needs to be replaced — for example a broken microwave. This is the ideal time to buy necessities that you already have on your list and that you will very likely buy in the near future. Make a list of items you genuinely need, such as essential electronics or winter clothing.
Personal wants — this can be the trickiest category to save money because it is the things that bring us joy but are not a need. Focusing on needs rather than wants helps prevent impulsive purchases of items that might not contribute much to your daily life. It's okay if you want to spoil yourself with something new (like clothes) — just make sure that it is within your budget and aligned with your bigger goals!
Gifts for someone else — with the Christmas season just around the corner, you can save some money by buying gifts for your loved ones! Make sure that you follow a budget and a list and stick to it.
Self-improvement-sounds good? Instead of materialistic things, why don't you buy something that is an investment in your personal development? It can be a personal finance book, a course to get better at your work skills, or anything that will help you with your side hustle or small business.
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2. Create a Budget
Before diving into Black Friday sales, set a clear budget for your shopping spree. Identify how much you can comfortably spend without compromising your financial stability 🚨
Check out our easy-to-follow Ultimate Guide to Budgeting 💡
3. Research Dates & Prices
Research and compile a list of deals and discounts offered by different retailers 👀 Knowing in advance where to find the best prices ensures you make informed decisions on where to shop. Don't forget to compare prices across various stores or online platforms to make sure you’re getting the best possible value for your money 💸
4. Don't forget Hidden Costs
Consider additional expenses such as shipping fees or extended warranties. Sometimes, what seems like a great deal can lose its appeal when these extra costs are factored in 👀
5. Check Return Policies
Ensure you’re familiar with the return policies of the stores you plan to shop at. This knowledge provides peace of mind in case you need to return or exchange items post-purchase.
