It’s easy to get REALLY excited about all the deals on Black Friday.  There are amazing deals to be had!  However, oftentimes this is where consumers begin the holiday debt spiral. Below are some ways to save money and tips to avoid overspending this black Friday.


 Tips To Avoid Overspending This Black Friday

  1. BUDGET – Have a budget in place for holiday shopping and stick to it.  Before you even make a list of what you want to buy and for whom, you need to know how much overall you can afford to spend this holiday season.  Start with an amount you can afford out of pocket without holiday expenses going on a credit card.


  1. REALISTIC – Be honest with yourself about what you can afford. It’s easy to get caught up in what we WISH we could afford to buy, but that’s how consumers get into debt. 


  1. MAKE A LIST – Make a list of who you are shopping for and what price range you are willing to spend on each person. If you already have gift ideas in your mind for each person, then do some simple online research to get a general idea of what the items you want to purchase cost. 


  1. PLAN – Don’t ever leave your home on Black Friday without having mapped out a plan of attack. Do your research on who has the deals on the items on your list.


  1. USE TECHNOLOGY – Even though you plan on going to brick and mortar stores on Black Friday, you can still use technology to your advantage   


  • Apps to Stay On Budget: There are great apps out there for staying on budget, such as Santa’s Bag.
  • Retail Store Apps: Some big retailers have apps that can be very useful while you are in their actual stores. For example, Target’s “Cartwheel” app will tell you when items are about to sell out and what is on sale. 
  • Social Media: Retailers will often promote last minute sales on social media. If you follow your favorite store, it could lead to savings.


  1. EXERCISE SELF CONTROL – All of this planning sounds well and good until you walk into those beautiful stores with the spectacular displays designed to tempt you to max out your credit cards with indulgent spending. YOU need to exercise self-control and be smart.  Most of those over-the-top displays in the stores are the marked-up items.  Retailers put the most high-end and high-priced items in the most appealing locating, such as end-caps in fabulous displays.  Don’t take the bait.  And you WILL see amazing deals on things you don’t need.  Do NOT pounce on them. Stick to your list.


  1. DON’T USE A CREDIT CARD – This is key. It’s just too tempting to put that beautiful, shiny item you REALLY want to buy on a credit card.  Don’t even bring your credit cards with you to shop on Black Friday.  Shop with debit cards or cash only.



  1. YOU HAVE OPTIONS – If you get to a store and an item is priced much higher than you anticipated, keep in mind that it could be greatly reduced on Cyber Monday. And don’t forget to support your local small businesses on Small Business Saturday.   There are often great deals to be had right in your own neighborhood.


  1. DEEP BREATHS – Before you leave your car and walk into the stores on Black Friday, take a few deep breaths. It’s easy to get caught up with the excitement happening all around you.  Have a little chat with yourself about staying on track.  Some more deep breathes and then GO FOR IT!


You can find more money saving tips on our blog.  Or contact me for a free debt consultation on any debt problems you are concerned about.


Daniel R. Gamez, an attorney focusing exclusively in debt relief, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in San Diego, CA. For more information, please contact Daniel Gamez at 858-217-5051, or use our online contact form. Stay updated with the latest debt relief tips by following on Facebook and Twitter!