Black Friday and Cyber Monday are the biggest shopping days of the year. And while incredible deals can often lead to overspending, there are ways to save big on your purchases.
Cyber Monday can be a day to get some good stuff you need, but it can also be a day where you blow all your money on impulse shopping.
If you are spending money that you don’t have, then you CAN NOT AFFORD IT. This is true for credit cards as well. If there is no money in the bank to immediately pay it off, you cannot afford it even if you are getting cash back, points, or rewards.
4 Ways To Save Big This Cyber Monday
Here are four ways to save you money and hassle during Cyber Monday shopping this year.
1. Establish a Clear Budget and List
Some deals are so enticing that you end up with a cart full of items you don’t need. But even a great deal is no reason to overextend yourself financially, creating debt and stress.
You can eliminate debt stress by setting a budget from the start. Only plan to spend what you can comfortably pay off quickly without going into debt. Creating a list that outlines what you want to buy for each person on your list can save you money by eliminating impulse purchases. Once you have a list of items, then you can dig in to figure out where you’ll buy them.
2. Do Your Research
With so many companies offering Black Friday and Cyber Monday deals, doing your research ahead of time helps maximize savings. Comparison sites like Google Shopping or Pricegrabber can help you find the lowest prices on items across categories like clothing, electronics, and jewelry.
But your research goes beyond just comparing prices. It also means understanding the store’s return policies and item warranties. Especially for gifts you’re buying for loved ones, it’s critical to check store policies ahead of time to ensure the recipient can return or exchange the gift without issue.
3. Use Cashback and Coupon Apps
Black Friday and Cyber Monday deals are already discounted. But using the right cashback and coupon apps can lead to even more money in your pocket. Apps like Ibotta or Rakuten can alert you to which stores are offering cashback on purchases. All you’ll need to do is visit the store through the app, make your purchase, and you’ll see the cash in your pocket in the coming weeks or months.
Pro tip: Many shopping sites now offer a browser extension that immediately alerts you to coupons and cashback as you browse the best deals. Talk about easy money.
4. Maximize Credit Card Rewards
Don’t take on debt to buy stuff. But it’s wise to be a savvy shopper who knows how to leverage credit card rewards. Before you shop, check your existing credit cards and what rewards they offer for online or in-store shopping. Then, be sure to use the cards with the highest rewards.
You can get amazing deals during Black Friday and Cyber Monday. But a great deal isn’t worth going into debt. So before participating, be sure to set a budget, do your research, use cashback and coupon apps, and maximize credit card rewards. Taking these steps in advance can help you get the most bang for your buck this holiday shopping season.