Shani Dion-Thibaudeau

By Shani Dion-Thibaudeau

November 15, 2017

Money

10 Tips to Get the Most Out of Black Friday

Article revised on 15 November 2017

Popular Black Friday sales will soon be advertised in stores and online. It’s a golden opportunity to take advantage of attractive discounts. To ensure you get the best deals without emptying your wallet, you need to be prepared. Here are a few tips you can use before and during the big day.

1. Define your (real) needs

First, ask yourself what you need and make a shopping list based on these needs. If you have to think a while before something comes to mind, it might just be that you don’t need anything. Consider taking a pass this year and avoiding unnecessary expenditures.

2. Do your homework

If you want to identify real savings from marketing hooks, check the regular price of the items you wish to purchase. Note it on your list for future reference. This will help when shopping!

3. Draw up a budget

When you’re in a store or online, it is very tempting to throw caution to the wind since the offers are so attractive. To avoid going overboard, set yourself a maximum spending amount. Be careful when using credit! The interest might cancel out the money you save during these sales.

4. Shop in advance

Some retailers or online sites such as Amazon make their Black Friday sales available ahead of time, although these offers may last just one day. Therefore, shopping before D Day can be profitable. You could find what you’re looking for at a better price.

5. Compare!

Don’t forget that the goal of retailers promoting this event is to get you to spend. So it’s inevitable there will be some fake discounts. Before taking an item from the shelf or adding it to your online basket, look at the advertised price and compare it to the one you noted on your list. You could have a pleasant, or unpleasant, surprise when you realize what the real discount is.

Is the item you want really on sale? Make sure you compare the price to the competitors’ prices. They might be charging even less.

6. Use the best price guarantee

Did you know that best price guarantees don’t only apply to grocery stores? Some retailers, such as electronics stores, match or better their competitors’ prices when shown proof. Find out!

7. Check the exchange and reimbursement policies and shipping fees

Before paying, find out about the retailer’s exchange and reimbursement policy. You could save yourself some worry if you need to return the item.

There are usually shipping fees for online purchases. Those charged by some websites could considerably increase your bill. Check with competitors who have free delivery to calculate the total price difference.

8. Watch out for price errors

During Black Friday madness, price errors can occur more frequently. Keep an eye on the price charged when your items are scanned and point out any errors. The Price Accuracy Policy states that if there is a discrepancy, the retailer must give you the item for free if it costs $10 or less or sell you the item at the price displayed, minus a $10 discount, if it costs more than $10. It pays to be attentive!

9. Don’t forget Cyber Monday

The Monday following Black Friday also offers discounts you won’t want to miss. It can really pay off to wait until then to go after sales.

10. Increase your savings!

With all the money you save on Black Friday sales, why not grow it by opening an online high-interest savings account? An easy secure way to save up for something you want!

Happy shopping!

Discover our high-interest savings account,
a tool to help you save for your projects!

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