Best 5 money saving tips for Black Friday
Wouldn’t it be nice to get the best deals while saving a lot of money?
Black Friday and Cyber Monday could be the best days to save money on travel, Christmas gifts, courses, tech gear and so much more.
But Black Friday has also left people with credit card debts, regrets and a lot more clutter in the house. So what should you do to avoid that, and save some money instead?
Let’s talk about my 5 best money-saving tips and hacks for Black Friday and Cyber Monday.
I have learned a few hacks on how to save money, and not feel guilty for spending afterwards.
1- That deal is not necessarily the best deal.
I believe that because of the current world situation, online deals for Black Friday will be coming from all directions. So be careful not to get caught up in the hype.
Brands will use buying psychology techniques to tempt us to buy things we don’t need.
This happens when our brain perceives a deal to be a good one compared to the original price advertised at the time. For example: get 20%OFF, or save $50, those sales techniques trigger all of us to buy it now.
But wait, have you done your research?
I know you need a vacation but is it the right time to travel?
Have you seen some reviews about the gear you want to buy?
Sometimes, brands may offer a huge discount on a particular product because they want to get rid of it as it didn’t sell so well in the first place. So don’t think that all deals are good deals.
Just 2 days ago, my husband came home and said: “ I saw a lavalier microphone on special and I know you need one. Let’s buy it!"
Then, I said: "have you looked at some reviews?"
He said: "yes, I looked at the lavalier microphone M1”.
To which I replied: "ok, show me the sale’s page."
And guess what?
The lavalier microphone on special was the M3, not the M1.
This is a simple mistake but one product model can be so different from another.
We researched the web to find a review on the M3 and I could only find one.
After listening to the sound quality of that product I really hated it. So I didn’t buy that product even though it was on sale with 40% off.
Another example: travels. Do you really want to spend most of your vacation inside the hotel because it rained all day?
Many of us jump on a flash sale thinking we got a bargain to then realise that the travel dates are during the monsoon season. Something you didn’t take the time to look at before you clicked on "Buy now".
Do your research before you buy. It is something so important to do.
Also, you need to realise that Black Friday is not always the best time to buy.
If you look at the price history, you may be surprised to see that the cheapest time to buy is actually closer to Christmas.
So before you buy any product you should check the price history.
You can do that by searching for a price tracker, here are several examples.
In The United States:
In New Zealand:
Pricespy to find which shop has the cheapest price
Cheapies is like a forum/website that shares coupons, special deals and more
Also, look for forums because the members usually share if they have found good deals somewhere.
In New Zealand, my husband who is a geek for electronics joined the forum called Geekzone.
He found many good deals, thanks to its members who are sharing coupon codes or discount sale prices.
2- Stack the savings
It makes me very happy to get back home after a holiday and then read an email saying: you have earned $100 cashback.
This is so cool. I spent money on what I wanted and needed but I also got paid for it.
Whenever you shop online, you need to make it a habit to go through the cashback site first.
During Black Friday or any big holiday season, those cashback sites have double or triple points or coupons code. I love looking for a bargain and stacking the savings.
The thought of finding a good deal and saving money but also earning money for spending money is mind-blowing. I will certainly not say no to that.
If you don’t know Rakuten, you need to sign up, it is free.
Also, if you sign up with this link, you will get a $10 to $30 bonus for your first $25 purchase.
You get paid via Paypal or they send you a check.
I thought It was spam at first, but then I thought let me just try it, I have nothing to lose.
I was happily surprised when I received my first Cashback.
Now, I growl at my hubby when he doesn’t go through them first.
It is free money, HELLO!
Rakuten, double cachback example
3- A mindful wishlist
Now, be very careful! I love Raketun but I don’t want you to be sucked in and start buying everything under the sun because the deals look amazing.
You need a mindful wishlist otherwise you will start accumulating credit card debt or you will start feeling guilty for spending money afterwards.
This is how I create my new wishlist:
I write the items
I write today’s price
I write what I need it for
I write what the lowest price was (look at the history to get that)
This is a great way to actually see if you really want that item in the first place.
You may realise that you already have a similar product hidden in the cupboard.
Having a wishlist gives you clarity and purpose while spending money.
That is the best way to shop and it doesn’t leave you feeling guilty.
I am very bad at impulse buying online courses. I have bought so many of them and if I am honest, I haven’t finished them all.
I always want to learn new things but I wish I had done my wishlist the way I do it now.
This would have saved me a lot of money.
I am certainly not perfect, and the reason why I can give you all those tips is that I wanted to find a way to be better myself.
Having a mindful wishlist empowers your buying decision, and really makes you feel in control.
I just love that feeling.
4- Bundle deals
That is another way to stack more savings and really get good value for your money.
If you are shopping with Amazon, for example, you will notice at the bottom of the page all the bundle deals options.
Now, of course, don’t add something to your cart if you don’t need that item.
Spending more money to get 20% off is not saving money.
Unless you are like my husband who is the pro at finding great bundle deals and making some extra cash at the same time.
He looks for bundles that give you free extra. Then he will sell what he doesn’t want and usually makes a profit. He can only do that because he has done his research first.
Let me give you an example:
My husband needed a new pair of headphones and he really wanted the Black Bose comfort headphones.
He saw a bundle for a phone which came with the headphone he wanted, plus a smartwatch.
So he told me he would keep the headphones and then wait a few days after the current special finishes to resell the phone and the watch.
Both of those products haven’t been open and are still brand new.
In conclusion, he got the headphones he wanted for free, and an additional $250 because he managed to sell the watch and the phone for $250 more than the price he paid for the bundle.
He knew how much he could resell those 2 other items for, before buying the bundle.
Now there was always a risk that they wouldn't resell at the price he wanted, but so far he never lost any money. He either breaks even or makes extra money.
He sells his stuff on forums or Trade me (for New Zealand), which is like Ebay for the US.
I bet you will not look at bundle sales the same way now!
5- Gift cards
Gift cards can be so awesome.
If you shop somewhere all the time you should buy them if they are at a discounted price.
Also, they are perfect for people who prefer to choose their own gifts in a particular shop.
So buying a discounted gift card should be your strategy this coming Christmas for those friends or family members.
For example, we bought an Itunes gift card for half price, the card value was $50 and we only paid $25.
Sometimes, if you go through a cashback like Rakuten, you get double or triple cashback in addition to getting 50% savings.
Stacking the savings is my favourite thing to do.
Now, I will only buy it if I shop in that store all the time and I know I can use it all before the expiry date.
So again, don’t get caught up in the reward ordeals, if you won’t be able to use it by the expiration date. You will end up losing money instead of saving it in hindsight.
Bonus tip: Price match
Price match is something we do all the time when we shop in a store.
In New Zealand, there is one shop which will “price match” and will give us points.
So that is double the fun.
Plus, there is another store that will not only match the competitor price but beat the price by 10% if you found something cheaper elsewhere.
We will go with a screenshot of the other store website as proof and voila.
We get home with either bonus points or a discount.
I hope I have given you some new ideas on how to save money for Christmas and Black Friday shopping.
My 5 best hacks to save money on Black Friday and Cyber Monday are simple and some just use common sense.
Buying your Christmas gift ahead of time and looking for a deal will save you money.
Also shopping online from the comfort of your home will save you time and stress.
The shops are so busy during those big shopping days.
When you know what you want, you can start saving money for it. You will no longer feel guilty spending money as you are now shopping with purpose and not by impulse.
I would love to know which one of those tips you have already tried or can’t wait to try!
Also, let me know if you have another super cool way to save money while shopping!
Thank you so much for reading!