black friday

How to Minimize Financial Stress During the Holidays

Nicole Lapin — Tue, 18 Dec 2018 18:28:12 +0000

The holiday season is supposed to be merry and bright, but due to the high cost of the holidays and the interpersonal politics of things like gift-giving, shopping, and entertaining, it can also be filled with friction between friends and long-distance besties.

A 2018 Bankrate survey found that more than two in five Americans feel pressured to reach deeper into their wallets than they're comfortable with during the holiday season. With that in mind, here are a few tips to help manage the pressure and stress of the holidays so you can actually enjoy the festivities sans drama.

Don't go into debt buying holiday gifts

It's so easy when you go into a store to waste a ton of time shopping and blow your budget on a gift that costs more than you wanted to spend. This year, instead of getting friends another scented candle or bottle of wine, I'm giving money with Zelle because it's a guaranteed way to stick to my budget and never overspend. A 2018 survey by Zelle found that 58 percent of people surveyed wanted to receive money as a gift. And really, who wouldn't want a little more money going into the new year?

I like to personalize every gift, so whether it's going old-school with a hand-written card or adding "for that pumpkin spice latte I know you love" in the memo line when I send $15 to a friend, I know I'm staying on track with my budget and giving a personalized gift that people actually want. No re-gifting, no shopping, and no worries.

Host holiday parties without blowing your budget

Everyone loves a great holiday party, but going out to the bars or hosting a group dinner can be beyond expensive. Instead, you can team up with friends to host a higher quality party without going broke.

Not everyone is a planner though, so let everyone take on the responsibilities that best suit them — maybe your friend makes a mean margarita but can't cook to save his life, and maybe your friend with more money than time just wants to cover the cost of the cleaning service the next day. You can hire anyone from a cleaner to a bartender on sites like TaskRabbit. Figure out who wants to do what, and delegate the responsibility wherever you can!

Look for the best holiday travel deals, but avoid hidden fees

Holiday travel can get expensive quickly, especially if you're traveling with a group. Plane tickets add up fast, and it can be hard to get everyone in the same place. To sidestep this, always hunt for holiday travel deals.

Websites like Hipmunk or KAYAK search multiple airline and travel sites at once, making sure you're getting the best deal on all your holiday travel. Be careful of fares that might have hidden fees, though — lots of airlines have "basic economy" tickets now that don't allow carry-ons or for you to choose your seats, and the last thing you want is to end up having to spread your friends out across an airplane.

Split the cost of travel whenever you can

Sharing an Airbnb or vacation rental with friends can be fun, but settling up the expenses can be awkward and potentially ruin the memories you make. Instead of constantly passing money around throughout the trip, let one person put the cost of the group's lodgings or airfare on their travel rewards card and then split the costs. Point-chasers will rejoice and the money will be in their bank account before their credit card bill is due. Plus, you'll all save on ATM fees if you're in towns where your bank doesn't have a branch. I use Zelle for this, too.

Make a plan, and stick to it

As you're looking for ways to make it through the holiday season with your sanity and finances intact, don't forget that the new year is coming up. Before you blow through your holiday budget and dip into other accounts, come up with a spending plan now to set your finances up for success in 2019.

Just like experts recommend an "eating plan" as a more long-term approach to dieting, I recommend a "spending plan" instead of a crash money diet. A sustainable spending plan is broken down into the three E's:

Essentials: This should be 70 percent of your overall monthly budget for basic expenses, like rent or mortgage, utilities, food, transportation, and insurance.
Endgame: This should be 15 percent of your monthly budget for your future, like savings accounts, investment accounts, and retirement accounts.
Extras: This should be the other 15 percent of your monthly budget for whatever else makes you happy.

Set this budget before the new year begins and use whatever tools work for you to track your spending, and then set regular check-ins to make sure you're staying on track throughout the new year.

Like this article? Pin it!

Guest Post Blurb:

Nicole Lapin is the New York Times best-selling author of Rich Bitch and Boss Bitch. Lapin was the youngest-ever anchor on CNN before holding the same title at CNBC, anchoring the network's early morning show, Worldwide Exchange, while covering business topics for MSNBC and Today. She has served as an anchor for Bloomberg TV and a special money correspondent for Entertainment Tonight.

Lapin is currently the host of the CW's business reality competition show Hatched. She contributes regular financial reports to Dr. Oz, Good Morning America, and The Steve Harvey Show. Lapin is Redbook magazine's first-ever money columnist and the first female "Money Expert of The Year" winner for the second year running. Lapin graduated as valedictorian from Northwestern University.

This article is from Nicole Lapin of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: 30 Things You Should Buy on Black Friday

Amy Lu — Wed, 15 Nov 2017 09:30:05 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on things that are worth buying on Black Friday, time-tested rules for civil conversation, and how to reduce your Internet presence.

11 Ways to Prepare for Your Best Black Friday

Mikey Rox — Thu, 09 Nov 2017 09:00:07 +0000

Don't let the success of Cyber Monday fool you: Black Friday is still a massive holiday spending day. According to the National Retail Federation, over 154 million consumers shopped over Black Friday weekend in 2016 — up from 151 million the year before.

Chances are, you're going to be one of those many consumers shopping on Black Friday this year. But you don't have to totally blow your budget in the process. There are ways you can soften the blow to your bank account with advance preparation. Here's how.

1. Put your common indulgences on hold

I like to have my hair cut every two weeks. But when I'm trying to save, I push the cut out to every three weeks. My haircuts cost $17 including tip, and if I adhered to this schedule on a regular basis, I'd save a whopping $148 a year. You may have an indulgence like this that you can honor less frequently or stop altogether while you try to budget more strictly during the holidays. These indulgences usually aren't cheap, and forgoing them will provide a sizable amount of extra dough for you to use for gift shopping.

2. Focus on paying off any existing credit card debt

Before you start swiping your cards left and right, it's important to tackle any existing credit card debt, especially if you've only been making minimum payments up to this point. Concentrate on the highest-interest cards first; you'll save more in the long run by paying those down or off as soon as possible. (See also: 5 Ways to Pay Off High Interest Credit Card Debt)

3. Pause or change your media subscriptions

The holidays are busy. Shopping, parties, pageants — you know the drill. All that running around probably leaves you with little time to use the subscription services for which you're paying a premium. So don't.

"Consider pausing subscriptions for a few months, or temporarily changing services to a lower-priced tier," advises Lindsay Sakraida, director of content marketing with DealNews. "For example, if you pay extra for Hulu without ads, premium Netflix, or extra data cell service, you might want to adjust all of them for a month or two to save some cash for Black Friday and the holidays."

4. Pick up short-term gigs and odd jobs for quick cash

I participate in several "gig" services throughout the year, but this side work really picks up around the holidays — and that helps my disposable income swell. Pet sit via Rover.com, pick up passengers using Lyft, host guests in your home through Airbnb, and deliver groceries with the help of Instacart. I do it all, and I highly recommend looking into any one of these opportunities for quick cash. (See also: 8 Seasonal Side Hustles That'll Cover Your Holiday Spending)

5. Make a gift list and establish a firm maximum budget

Make your list, check it twice, and decide how much you want to spend on each recipient. Once that budget is set, stick to it. Better yet, make it your goal to come in under the amounts you've established for each person so you can treat yourself to a little something special when all is said and done. (See also: The Simple Holiday Budget Anyone Can Follow)

6. Research the Black Friday deals ahead of time

News of many Black Friday offers will be released well in advance — several retailers, like Walmart, Costco, Kohl's, and JCPenny have already whetted consumers' appetites with "leaked" deals — which allows you plenty of time to research the best of the best. There are entire sites, such as Best of Black Friday, dedicated to compiling the deals in one place.

7. Start shopping early to spread out your spending

Why wait until Black Friday if you recognize a great deal when you see one? Just because the day after Thanksgiving receives heavy promotion doesn't mean there aren't other great deals before the stampedes begin.

"Make it a point to get a jump-start on planning and shopping early so you have a few months to purchase gifts instead of waiting until the holiday season," suggests Natasha Rachel Smith, personal finance expert at TopCashback.com. "Also, don't forget about deals on Thanksgiving. Every year Black Friday has crept up earlier and earlier. In fact, in recent years, some deals sell out before Black Friday." (See also: 6 Ways to Score a Black Friday Deal Without Leaving Home)

8. Have a game plan before stepping foot in the store

Similar to never going to the supermarket on an empty stomach, don't head into the holiday season without a game plan.

"Most major retailers will release their deals for Black Friday the week before to give consumers time to plan and get excited about what they want to purchase," Smith says. "Use this time wisely to see what is going to be on sale and compare deals at each retailer. By creating a game plan, you can prioritize any items that sell fast or are at the best-discounted price. Not only will you save time but you'll save money too by planning what to get, when, and where." (See also: 8 Frugal Skills You Need to Survive Black Friday)

9. Consult your cash back apps before heading out

I've been killing it in the cash back game lately, thanks to apps like Ibotta and Checkout 51. The trick is to consult these apps before you go shopping so you know what's available and opt in if required. With Ibotta, for instance, many times it requires you to make purchases through its app — it will launch the retailers' sites for you, like Under Armour, as an example — so it can track your purchase and deposit the cash back you've earned. Every penny returned to you helps. Trust me — you will be thankful for this at holiday time. (See also: 7 Apps That Actually Pay You to Shop)

10. Consider your method of payment for maximum savings

You might think that cash in hand is the best way to shop on Black Friday (it certainly can help avoid overspending if you're disciplined), but you could be disqualifying yourself for deals available through other methods of payment. Capitalize on your Black Friday spending by deciding how you're going to buy things — cash, debit, or credit card — to reap the best benefits.

Scope out all your payment options and use the bonuses and rewards in your favor. If you do the research and find that you want to apply for a specific card, do so a couple weeks in advance to ensure you receive it in time to use it. Using the shopping season to get bonus cash back that has a spending requirement can give you help ease the holiday costs. (See also: Read This to Maximize Your Rewards and Cash Back This Holiday Season)

11. Renew your commitment to financial freedom

It's easy to go overboard during the holidays, whether it's on gifts or social activities. Don't let yourself off the hook on your financial goals just because it's the holidays. Stay committed to them and use the holidays to focus on gratitude rather than the mad dash to grab discounts.

Like this article? Pin it!

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Flashback Friday: 30 Brilliant Ways to Survive Black Friday Madness

Chrissa Hardy — Fri, 25 Nov 2016 12:00:16 +0000

Black Friday shopping isn't always fun. In fact, most of the time, it's the opposite of fun. But even though there are crowds everywhere, the weather is most likely extremely cold, and you're still working off the food coma from yesterday, the Black Friday hustle is worth it for the amazing deals you can score. Here are 30 brilliant ways to survive the madness of Black Friday.

5 Reasons Black Friday Craziness Is Worth It — It's not all bad. You can finish up your gift shopping in one day, there's the thrill of the chase, and getting big discounts on all your purchases is so much fun. Even though you're cranky and tired, there are several upsides to this annual shopping celebration.

Why People Go Crazy on Black Friday — In order to fully assess what you're dealing with on Black Friday, it's important to know why so many people get sucked into it. Hint: it's all based in strategy and psychology. Incredibly fascinating!

6 Ways to Score a Black Friday Deal Without Leaving Home — The best way to shop Black Friday deals is to do it without wearing pants. And the only way to do that (without getting arrested) is to do all your Black Friday shopping at home. Just pull up your computer and fill up that cart!

8 Frugal Skills You Need to Survive Black Friday — The real winners of Black Friday? The frugal folks. Many frugal living skills you use in your everyday life and financial planning goals can be applied to Black Friday as well. And these are skills you need just to get through Black Friday without destroying your budget.

6 Ways to Spend Black Friday at Home — Believe it or not, people will head out on Black Friday even if they aren't interested in shopping. It's a holiday weekend, so people will head out to eat, to the movies, and everywhere else. So if you're looking to do the opposite of that and relax at home, here are some low-key ways to celebrate sans crowds.

This article is from Chrissa Hardy of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Avoid These Retailer Tricks on Black Friday

Amy Lu — Wed, 23 Nov 2016 10:30:24 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on trick that retailers will try to use on Black Friday, ways to recover from a bad first impression, and tips to help you save money at hotels.

7 Things Not to Buy on Black Friday

Mikey Rox — Wed, 23 Nov 2016 10:00:08 +0000

If I had to choose one word to describe Black Friday, it would be pande-frickin'-monium. Consumers go berserk for doorbusters, big deals, and deep discounts, but all may not be as it seems. Take a look at these typical Black Friday "best buys" that are anything but to help stretch your budget and keep your sanity in check.

1. Virtual Reality Headsets

Primitive virtual reality headsets have been around for a few years now, but they're just starting to enter mainstream technology now that major tech players, like Sony, are designing their own devices. The main problem here, however, is that the tech still isn't where it needs to be to justify the high cost of these coveted Christmas-list items.

"Though it's tempting to get your hands on a virtual reality headset, we recommend sitting it out for one more year," suggests BuyVia, a website and mobile app that combines in-store and online shopping across smartphones, tablets, and laptops. "In order for the headset to be worthwhile, you need a high-end fast PC, which can be pricey without giving you great results. For instance, The Core i5 processor will run you at least $800, plus the Nvidia GTX 970 video card. The PlayStation VR costs $400 but is still pretty slow, and has limited software selection and tracking problems."

Of course, given VR's popularity right now, you do run the risk of crushing someone's holiday hopes, like, big time, if you opt out on this item — but, eh, whatever. There's always next year.

2. Winter Apparel

It's not that you won't find great deals on winter apparel this time of year, but Black Friday may not be the best day to go on a shopping spree for the long johns and wool socks that your nephews are totally dreading. (Seriously — eeeevery year, lady?)

"While you're sure to see deals on select clothing items during Black Friday, it's better to hold off until Cyber Monday when sitewide savings of 60% plus free shipping give you more options," says savings expert Kendal Perez of Coupon Sherpa. "Black Friday clothing deals are often limited to one brand or style — a crew-neck cashmere sweater, for example. What's more, discounts on winter clothing and boots are deeper in January, when these garments go on clearance to make room for spring styles, which typically debut on showroom floors in February."

3. Health and Beauty Items

Like clothing, wait until Cyber Monday and deeper-in-December sales. Prices on individual items and sets, as well as discounts for brands and subcategories, will be much better.

"You may find a few spectacular doorbuster-like deals on makeup, polish, and fragrances, but waiting until the traditional storewide discounts we see on Cyber Monday will bring you a bigger selection of items to choose from," FatWallet.com's Brent Shelton says.

Or you can do what I do: Wait until after the holidays to pick up grooming sets, from brands like Axe and Old Spice, at slashed prices and stash them away until next year. Just make sure the products won't expire within a year or two. Which is important — unless you like the idea of giving your brother a holiday rash.

4. Tools

You may be getting fooled on tools on Black Friday, according to Mike Catania, founder of thesaving community PromotionCode.org.

"While there are plenty of Black Friday 'sales' for tools, the reality is that they're marked up more for the holidays than any other time of the year," he says. The offers look good on paper — up to 30% off — but the original price is 40% higher than it was at the end of summer. This is particularly true for tools in the quality range beneath 'pro-sumer.'"

This doesn't mean that hubby can't get the new table saw that he'll use once before he starts using it as a storage surface. Just do your research and compare prices before purchasing.

5. 1080p HDTVs

Flat-screen TVs have long been a staple of Black Friday doorbusters — many shoppers have the trample marks to prove it. But this year, 1080p versions are hitting the skids for higher-end (but still affordable) 4K HDTVs.

"4K is definitely the future of TV, and the price has dropped significantly over the last year; a 50-inch 4K HDTV is about $400," writes BuyVia in a recent blog post about Black Friday. "4Ks are optimized for Blu-ray, Netflix, Amazon, DirectTV, and YouTube, and you can add Smart TV functionality with an inexpensive $40 Roku box. Plus, if you want to spend a little more money, you can find a 4K TV with HDR imaging for incredible image quality."

The one and only issue I have with this trend — and full disclosure, I own 4K TVs myself — is that cable technology hasn't caught up with TV tech. It may be another year or two until you'll get the full experience of 4K, but you can at least take advantage of the Internet-connected "smart" part of the sets in the meantime.

6. Home Furnishings

The general consensus here is that you should avoid buying new furniture this time of year, not just specifically on Black Friday. Perez explains why.

"Black Friday is all about doorbuster deals on TVs, gaming consoles, tablets, and other electronics," she says. "Rarely do we see an epic deal on love seats and recliners, and Black Friday deals for national chains like Crate & Barrel, West Elm, Pottery Barn, and the like are minimal, often limited 15% to 20% off select items and deals on holiday accessories which don't compete with post-holiday sales. Furniture deals are better in January and July/August, when new styles debut and clearance prices offer better savings compared to Black Friday discounts."

7. Gift Cards

Boy, do I love a good gift card — mostly so I can exchange all the long johns and wool socks my aunt gave me yet again and get what I want. Deal-wise, though, you're better off waiting until December to stock up on these precious pieces of plastic, says Perez.

"Gift cards are a better buy in December when restaurants and select retailers offer bonus cards with gift card purchases. In the past, we've seen free $5 to $25 bonus gift cards with purchase of restaurant gift cards $25 to $50 from Chili's, Benihana, Olive Garden, and more. Retailers like LL Bean, DSW, The Children's Place, and Toys 'R Us also offered free gift cards ranging from $5 to $25 last December with select purchases."

Like this article? Pin it!

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Ask the Readers: What Are Your Tips for Black Friday?

Ashley Jacobs — Tue, 22 Nov 2016 11:00:09 +0000

Editor's Note: Congratulations to Lisa, Ana, and Louly for winning this week's contest!

Black Friday is one of the biggest retail holidays of the year. Some people love it for the deals, and others hate it for the chaos. And because not every deal is as good as it sounds, it's important to know the tricks and tactics that stores use to get you to spend more.

What are your tips for Black Friday? What stores do you plan to hit up this year? If you won't be shopping in person, will you be ordering online or checking out Cyber Monday deals?

Tell us your tips for Black Friday and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — here's how you can win!

Mandatory Entry:

Post your answer in the comments below. One commenter will be randomly selected to win a $20 Amazon Gift Card!

For Extra Entries:

You can tweet about our giveaway for an extra entry. Also, our Facebook fans can get an extra entry too! Use our Rafflecopter widget for your chance to win one of the other two Amazon Gift Cards:

a Rafflecopter giveaway

If you're inspired to write a whole blog post OR you have a photo on Flickr to share, please link to it in the comments or tweet it.

Giveaway Rules:

Contest ends Monday, November 28th at 11:59 p.m. Pacific. Winners will be announced after November 28th on the original post. Winners will also be contacted via email.
You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
You must be 18 and US resident to enter. Void where prohibited.

Good Luck!

Tell us your tips for Black Friday and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Stocks to Buy Before Black Friday

Mikey Rox — Fri, 18 Nov 2016 10:00:07 +0000

Thinking about playing the stock market to take advantage of the holiday uptick? Consider investing in these stocks to boost your gift-shopping budget. Or, just scrap it all and go on vacation. Merry Christmas to you!

1. UPS

It makes perfect sense that global-shipping giant United Parcel Service [NYSE: UPS] would see a surge in stock prices as the height of shipping season approaches. A recent survey conducted by comScore reveals that online shopping will increase this year — to nobody's surprise — and that only means more business for UPS. According to independent trader and investor Tela Holcomb, UPS stock has risen from early November to early December for nine out of the last 10 years. Given data that even more packages than ever before will crisscross the country this year, 2016 should be a boon for business as well. She notes, however, that stock trends are based on historical data and should not be taken as investment advice; your personal decision on whether to invest should be supported by current stock charts.

2. Amazon

Amazon [NASDAQ: AMZN] has given department stores a run for their money and their stock price shows it. Like UPS, Amazon's stock has a trend of rising from early November to early December, nine out of the last 10 years, with the highest increase being over 11%, according to Holcomb.

3. eBay

If Amazon doesn't have what you're looking for when shopping for gifts, eBay [NASDAQ: EBAY] probably does — which is why each of these platforms continues to perform at peak levels during the holidays. Vic Patel is a professional trader and investor with over 20 years' experience in the Stock, Futures, and Foreign Exchange Markets, and he's particularly bullish about eBay in the short term going into Black Friday.

"Last year, eBay posted a healthy 4% gain from early November leading into Black Friday; I see a similar seasonal tendency for the stock this year as well," he says. "This is especially likely given that the stock has been beaten down a bit over the last few months and is ready for a bounce upwards."

4. Priceline

The holiday period has a stronghold on many industries, including restaurants, retail, and travel. Which is why it stands to reason that during the most traveled period of the year — the day before Thanksgiving through New Year's — travel sites like Priceline [NASDAQ: PCLN] start climbing.

"Analyzing changes in Priceline's stock price shows the stock has a trend of going up the last two weeks of November into the beginning of December," Holcomb says. "With Thanksgiving being the day before Black Friday, it's no surprise their stock is up around this time."

5. Big 5 Sporting Goods

In a year that saw one of the biggest sporting goods store in the United States — Sports Authority — go belly up, it's a surprise (or maybe not, thanks to less competition) to see Big 5 Sporting Goods [NASDAQ: BGFV] projecting gains. But the company, with an e-commerce platform and brick-and-mortars limited to the western U.S., is dazzling investors. In fact, Forward View, an investment research provider, moved the company from a sell rating to a buy rating while increasing its target price to $20, up from $15, based on new modeling.

6. A Few Things You've (Maybe) Never Heard Of

The election of soon-to-be President Trump sent the market into a tailspin leading up to the results, but the Dow bounced back to post a six-day winning streak, closing at a record high despite a tech fall, according to CNBC, with Goldman Sachs [NYSE: GS] and UnitedHealth Group [NYSE: UNH] contributing the most gains. Before the election, however, GoBankingRates predicted a few stocks poised to grow, including Applied Materials [NASDAQ: AMAT], Edwards Lifesciences [NYSE: EW], ARRIS [NASDAQ: ARRS], Lam Research [NASDAQ: LRCX], and Northrop Grumman [NYSE: NOC]. These stocks represent a wide range of industries — from entertainment and communication technology (ARRS) to aerospace and defense tech (NOC) — none of which are tied to the holidays outright. It's sometimes wise to look beyond the obvious.

The General Consensus

Invest in seasonal or holiday-driven companies to make the most out of this time of year. Get in and get out.

"Chances are if you're spending more than usual during the holidays, so is everyone else," says financial expert Dustin Jacobs, VP for marketing at BrightStar Credit Union. "Use this to your advantage by buying stocks in companies that are most profitable during the time between Thanksgiving and New Year's like airlines including JetBlue, retailers like Target and Amazon, and transportation companies such as UPS and FedEx. Do it before the 'January Effect' kicks in and you'll be ready to ring in the New Year with a champagne toast to a temporary bull market."

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Frugal Skills You Need to Survive Black Friday

Paul Michael — Wed, 16 Nov 2016 09:00:07 +0000

Black Friday: It's a day some of us look forward to, and others dread. It's the one day of the year when stores seemingly lose all sense of reality and offer products at prices that are insanely low.

Of course, anyone who really knows what's going on behind the scenes is well aware that the stores have not gone mad. Most are employing clever tactics, like loss leaders and limited doorbusters, to lure you in and get you spending. But if you arm yourself with the following frugal skills, you'll come out on top.

1. Iron-Clad Willpower

Temptation is everywhere on Black Friday. Even if you think you know every deal that's coming, you will be surprised by bargains you never dreamed of. This is the time to remain frugal, and hold firm to what you came there to get. A good way to think of it is this: If you didn't want it, no matter how cheap it was, it wasn't a bargain.

Grabbing handfuls of DVDs and Blu-Rays priced at $1.99 each may feel like you're ripping the place off, but if you're never going to watch them, what's the point? This goes for everything you see that day. Hold firm. What do you need, and what do you want? You should only be buying what you need on Black Friday, because otherwise, you can get swept away by the hysteria and spend more than you planned.

2. A Healthy Dose of Skepticism

Do not, for one second, think that the deals being presented on Black Friday are the most incredible money-saving bargains around. Sure, the doorbusters will be great opportunities to save, but they are always available in very limited quantities (in some cases, only a handful per store). And unless you're planning to spend hours, or even days, waiting in line, you aren't going to get them.

Many of the other deals you'll see on Black Friday have often been available on that price, or even lower, on other days of the year. And as always, take that RRP (recommended retail price) with a huge grain of salt. This is the price you see as "before," and the sale price as "after" — but chances are, the store never priced the item at that RRP.

3. The Patience of a Saint

Things are going to get tough, both mentally and physically, on Black Friday. There will be pushing and shoving, shouting and screaming, and sadly, injuries. The chaos can easily take hold of you, and before you know it you're right in there, grabbing at bargains, pushing people out of the way, and getting caught up in a world of trouble.

Take a step back. Breathe. Be patient. Remember, this is all just stuff. It may be stuff you'd like to have, or give as a gift, but it is not worth your health or sanity. What's more, by giving into your more animalistic emotions, you can find yourself spending more money than you wanted to. The competitive spirit can cloud your judgment, spurring you to buy more than you ever wanted. Have patience. If you can't get what you want on the day, don't worry. There will be other days.

4. Complete Preparation

One of the keys to surviving Black Friday is knowing exactly what you want to buy before you ever leave the house. And not only what you want to buy, but how much you're willing to pay for it.

On the day in question, your senses will be bombarded. Deals galore will hit you square in the face as you rush into each and every store, and it is very easy to become sidetracked. Before you know it, your cart is filled with everything but the items you actually wanted. So, stick to your guns, and stick to your list. The stores will all put out circulars well in advance of Black Friday. There are sites dedicated to Black Friday deals. Create a shopping list based on which stores you want to visit, what you want to get, and the top price you are going to pay. Follow it to the letter, and you'll stick to your budget and get the deals and items you really want.

5. A Good Memory

Most Black Friday deals are repeats of previous years. In fact, many of the deals are nearly identical, down to the same brand, price, and stores offering them. Black Friday, for most companies, follows a specific formula. This is calculated. They know what people are shopping for, what will sell, and most importantly, what the healthy profit margins are. That's why you will continually see circulars offering huge discounts on luggage, pots and pans, boots, food processors, cheap DVDs, and even air mattresses.

You won't, however, see huge discounts on the big video game systems, iPads, or other "in demand" tech. You will buy those regardless of the price, and stores are not going to miss out on those guaranteed dollars.

6. Knowing How to Compare and Save

Whatever your go-to way of price comparison shopping is, you need to have it locked down before the big day. Some people like apps such as ShopSavvy or RedLaser. Others simply pop the product into Google and see what prices show up. However you go about it, you need to have a strategy in place on the day. Don't buy anything without researching it first. If you're worried that the item will be scooped up by someone, hold onto it while you look it up. Is the deal on offer in that store the best one around? Is another store offering a mail-in rebate, or bundling it with other items for free? Your smartphone can save you hundreds of dollars on the day.

7. An Eye for Details

Frugal shoppers like to read the small print. They look at the little asterisks that are innocently slapped next to a price tag. They know that the devil is in the details, and in some stores, that devil can cost you quite a lot of money. So, get ready to look over every deal with the analytical mind of Sherlock Holmes. Is it really only $200, or are there strings attached? Do you have to buy two items together to get the price? Do you have to purchase the three-year extended warranty for the lower price? Is the steal of the day limited to only two stores in the whole state? Look closely, and make sure you are not being stung by small print.

8. Realizing Every Single Dollar Counts

Most of us are loss averse. We would much rather avoid losing $10 than find $10 in the street. On Black Friday, loss aversion can quickly crumble in the minds of shoppers. And the stores know just how to take advantage of it.

For instance, after you buy a $450 laptop, what's another $25 on a laptop case, or a flash drive? The thing is, on any other day of the week, you would scrutinize those purchases and look around for better deals. But on Black Friday, you are shelling out so much money that the smaller purchases slip under your usually frugal radar. Remember, every dollar counts. Examine every deal, even the small ones. If they're not worth it on any other day of the week, they're not worth it on Black Friday.

Like this article? Pin it!

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

10 Things You'll Waste Money on This Thanksgiving

Marla Walters — Wed, 09 Nov 2016 10:30:29 +0000

Serving a Thanksgiving feast on a budget is like performing a magic trick. It takes a lot of money to buy the large quantities of food to fill the bellies of all your Turkey Day guests. But it helps to know what people usually end up wasting money on, before forming your feast menu. If you're the host, here are 10 ways to stay on track and not blow your Thanksgiving grocery budget.

1. Buying Expensive Centerpieces

Have you priced formal floral Thanksgiving centerpieces, lately? Your basic cornucopia number runs around $50. Ouch! No need to engage a florist. Try your own hand at tablescaping. Here are simple, beautiful ideas using items you may already own, or that are easily found outdoors.

2. Serving Food Nobody Really Likes

Yes, Aunt Peggy's wiggly molded red jello may be traditional, but does anyone really like it? Take a hard look at your menu. It may be time ax the dishes you think you ought to make in favor of ones that people actually enjoy. Why waste time, money, and energy on food that is going to sit in the fridge for weeks?

3. Making Too Much Food

One of my grandmothers always worried about not having everyone's favorites, so she made it all. We really did not need both a turkey and a ham, or sweet potatoes fixed two ways. Even when everyone took leftovers home, her refrigerator was still difficult to close. Learn from my grandma: Stop overspending and also cut back on your food waste.

4. Only Buying Name Brands

Per pound, turkey is pretty inexpensive, unless you decide you need a pasture-raised one, which will cost you more. Big-box stores now offer organic products, too, so do your homework before you buy.

5. Not Asking for Help

One of the inevitable questions from your guests will be, "What can I bring?" Take them up on that! Hate peeling potatoes? Ask someone to bring the mashed potatoes. My mother couldn't make gravy without lumps, so she'd ask a friend to bring that. My daughter, who doesn't cook, can be depended upon to bring wine. There is nothing wrong with taking people up on their offers of help, and it will keep your costs down.

6. Serving Elaborate Hors d'Oeuvres

Spending loads of time on dinner? There's not much sense in your guests filling up on snacks ahead of time, and ruining their appetites. Instead of yet another hot appetizer that takes up space in the oven, try serving some inexpensive raw vegetables and spicy nuts that you can make ahead of time.

7. Using Fancy China

As someone who has multiple sets of china, I'm going to give you the straight scoop: I rarely use it. While I found the pretty flowers and silver bands on the rims just enchanting at age 20, now, I wish I had registered for a plain, good quality pattern. White, or off-white, is a lot more versatile, and a good quality plate is more useful than a highly decorative one.

8. Making Multiple Trips to the Store

Five years, ago, I found myself making a third trip to the supermarket when I realized I only had one type of cranberry sauce. What a waste of gas! How to avoid this? Make a list. Get out each and every recipe and make sure you either have the ingredient on hand, or that it is on your shopping list.

9. Creating Elaborate Place-Settings

I'm all for proper use of silverware, but you really don't need to go out and buy it all. It's no fun for my guests if they have anxiety about which fork to use first, or they don't know which bread plate is theirs. Here are some excellent photos and tips about which silverware to put where, ensuring that your guests don't stress.

10. Presenting Over-the-Top House Decor

Guests want to feel relaxed, welcomed, and comfortable. If you hang a wreath on your door, fine. But piles of pumpkins, huge hurricanes with candles, or hay bales at the front door are really unnecessary, and the cost adds up. What are you going to do with all this decor when Thanksgiving is over? Think ahead, and only buy the stuff you need and will use again.

Like this article? Pin it!

This article is from Marla Walters of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: What You Need to Know About Black Friday 2016

Amy Lu — Tue, 25 Oct 2016 09:30:24 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on things you need to know about this year’s Black Friday, ways to stay motivated when you’re already debt-free, and a few reasons why you should — and shouldn’t — keep all your accounts at the same bank.

Best Money Tips: Don't Fall for These Black Friday Myths

Amy Lu — Mon, 17 Oct 2016 10:00:14 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on major Black Friday myths that retailers want you to fall for, ways to avoid paying bank fees, and things that we’ve been doing wrong all our lives.

Best Money Tips: What to Expect From Best Buy's Black Friday Sale

Amy Lu — Wed, 21 Sep 2016 10:00:09 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on what to expect from Best Buy’s Black Friday sale, big mistakes that destroy family relationships, and the best majors for a lucrative career.

Best Money Tips: How to Save $1,000 by Black Friday

Amy Lu — Tue, 30 Aug 2016 09:30:34 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on ways to save $1,000 by Black Friday, over a hundred cleaning and organizing hacks, and tips to save money when you’re traveling by yourself.

December Deals That Are Better Than Black Friday

Kyle James — Thu, 10 Dec 2015 18:08:02 +0000

With Black Friday and Cyber Monday fading quickly in the rearview mirror, it has many shoppers wondering if their chance of scoring a good deal before Christmas is fading as well. What if I were to tell you that there are specific days in December where you can find better deals than the infamous Black Friday? Here are the dates you need to know to maximize your savings.

1. Christmas Toys — December 16th

Most Christmas toys don't start going on sale until the 16th of December. Retailers realize they have a captive audience during the Black Friday frenzy and tend to not offer many deals. Instead, they'll wait until mid-December to start lowering prices, including offering more online and in-store coupons. But this comes with an important caveat — if you're shopping for the mega-popular toys of the season (i.e., anything Star Wars related) you may have to snatch those up when you find them to avoid getting gouged as we get closer to Christmas.

2. Quality HDTVs — December 11–13th

Black Friday is known for huge doorbuster deals on really cheap HDTVs, most from brands you've never heard of with less than spectacular specs. But if you want to find a really good deal on a quality brand like Panasonic, Samsung, or Vizio, check out the deals on the weekend of December 11th–13th. Historically, this weekend sees big price markdowns and the release of above-average coupons from retailers like Best Buy, Walmart, and Sam's Club. If you're not buying a new HDTV as a Christmas gift, wait until the end of January when we typically see excellent deals leading up to the Super Bowl and after the Consumer Electronics Show, when new models are released.

3. Laptops — December 15th

If you missed out on one of the great laptop deals on Black Friday or Cyber Monday, don't fret — December 15th could actually be a better day to save. Over the past several years, that date has seen consistent markdowns and coupons from the likes of Dell, Hewlett-Packard, Lenovo, and even Apple. Also, unlike Black Friday deals, which often see inferior laptops made specifically for the day, mid-December deals are on quality models with specs that won't leave you begging for an upgrade in a few short months.

4. Apparel and Shoes — December 18th

The single best day to shop for apparel and shoes in December is also known as Free Shipping Day, and this year it falls on December 18th. It's the day when over 1,000 online retailers come together to offer free shipping (no minimum) with guaranteed Christmas Eve delivery. The majority of these online retailers are clothing and shoe sellers like Gap, Lands' End, Old Navy, Zappos, and American Eagle Outfitters. In addition to free shipping, most of them also offer a percent or dollar off coupon code to entice last-minute shoppers. Be aware of return policies and know your size before ordering to avoid costly return charges.

5. Tools and Hardware — December 16th

If you're buying a new power tool for yourself, and can afford to wait, buy it during the two weeks leading up to Father's Day to maximize your savings. But if you're buying it as a holiday gift, start your shopping on December 16th and take advantage of a plethora of new markdowns and coupons from the likes of Home Depot, Lowe's, and Sears. In the past, I've seen a 55% increase in deals starting on December 16th that typically last through the 20th of the month.

6. Kitchen Gadgets and Appliances — December 18th

It pays to shop for small kitchen appliances and gadgets closer to Christmas. Think coffee brewers, blenders, panini makers, garlic presses, and other items along these lines. By shopping online on December 18th, not only will you be able to take advantage of free shipping, but many websites like Pfaltzgraff, Crate & Barrel, Mikasa, Brookstone, JCPenney, and Chefs Corner Store offer discount codes in the 20%–40% off range.

7. PS4 and Xbox One Consoles/Games — December 14th

Starting on December 14th and going through the 17th of the month, you can usually find prices on PlayStation and Xbox items comparable to, or better than, the pricing you see on Black Friday. This includes older game titles in the 30%–40% off range and new titles 15%–20% off at retailers like Walmart, Gamestop, Target, and even Amazon. Also, if you look to buy a bundled system, which typically includes the console, game, and an extra controller, you can find deals in the 25% off range a week out from Christmas.

What is your holiday shopping strategy and how do you find the best deals?

This article is from Kyle James of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

black friday

How to Minimize Financial Stress During the Holidays

Don't go into debt buying holiday gifts

Host holiday parties without blowing your budget

Look for the best holiday travel deals, but avoid hidden fees

Split the cost of travel whenever you can

Make a plan, and stick to it

Like this article? Pin it!

Best Money Tips: 30 Things You Should Buy on Black Friday

Top 5 Articles

Other Essential Reading

11 Ways to Prepare for Your Best Black Friday

1. Put your common indulgences on hold

2. Focus on paying off any existing credit card debt

3. Pause or change your media subscriptions

4. Pick up short-term gigs and odd jobs for quick cash

5. Make a gift list and establish a firm maximum budget

6. Research the Black Friday deals ahead of time

7. Start shopping early to spread out your spending

8. Have a game plan before stepping foot in the store

9. Consult your cash back apps before heading out

10. Consider your method of payment for maximum savings

11. Renew your commitment to financial freedom

Like this article? Pin it!

Flashback Friday: 30 Brilliant Ways to Survive Black Friday Madness

Best Money Tips: Avoid These Retailer Tricks on Black Friday

Top 5 Articles

Other Essential Reading

7 Things Not to Buy on Black Friday

1. Virtual Reality Headsets

2. Winter Apparel

3. Health and Beauty Items

4. Tools

5. 1080p HDTVs

6. Home Furnishings

7. Gift Cards

Like this article? Pin it!

Ask the Readers: What Are Your Tips for Black Friday?

Win 1 of 3 $20 Amazon Gift Cards

Mandatory Entry:

For Extra Entries:

Giveaway Rules:

6 Stocks to Buy Before Black Friday

1. UPS

2. Amazon

3. eBay

4. Priceline

5. Big 5 Sporting Goods

6. A Few Things You've (Maybe) Never Heard Of

The General Consensus

8 Frugal Skills You Need to Survive Black Friday

1. Iron-Clad Willpower

2. A Healthy Dose of Skepticism

3. The Patience of a Saint

4. Complete Preparation

5. A Good Memory

6. Knowing How to Compare and Save

7. An Eye for Details

8. Realizing Every Single Dollar Counts

Like this article? Pin it!

10 Things You'll Waste Money on This Thanksgiving

1. Buying Expensive Centerpieces

2. Serving Food Nobody Really Likes

3. Making Too Much Food

4. Only Buying Name Brands

5. Not Asking for Help

6. Serving Elaborate Hors d'Oeuvres

7. Using Fancy China

8. Making Multiple Trips to the Store

9. Creating Elaborate Place-Settings

10. Presenting Over-the-Top House Decor

Like this article? Pin it!

Best Money Tips: What You Need to Know About Black Friday 2016

Top 5 Articles

Other Essential Reading

Best Money Tips: Don't Fall for These Black Friday Myths

Top 5 Articles

Other Essential Reading

Best Money Tips: What to Expect From Best Buy's Black Friday Sale

Top 5 Articles