5 Ways Shopping on Black Friday Can Screw You

5 Ways Black Friday Shopping Can Screw You

Black Friday deals are about to be upon us and many shoppers will be in a flurry of spending and snagging great deals. At the same time brands and companies are plotting how to get your money and using powerful methods to know exactly how to do that!

Black Friday can really hurt your budget if you aren't keeping an eye on your spending and many times it leaves people with buyers remorse.

1. Avoid Credit Card Offers 

On Black Friday you are going to see a ton of credit card offers for new members offering discounts of up to 30% off your order. AVOID this pitfall. It may seem enticing as you are scoring Black Friday deals but it's the worst thing for your budget.

The credit inquiry alone will hurt your credit and now you have added another bill and debt to your load. You can get a totally FREE credit check without it affecting your credit history at all with Borrowell.

2. Set a Spending Limit Per Person

On Black Friday it can be all too easy to just get sucked into the hype and perfectly placed sale ads. Before you even start your shopping make a list of who you are buying for and how much you can afford to spend on each person.

Here are a few free gift ideas to save you some money.

Other resources: 20 Ways Canadians can save money on Christmas

3.  Assuming Everything is a Deal Will Screw You

Don't for a second think that the brands and stores aren't out to make an extra buck on Black Friday, because they are. Nothing everything with a deal or sale sticker is actually a great deal. In fact on Black Friday your chances of getting screwed with a low quality product or just a plain crap products goes up by 60%.

Have a set plan of what you are looking for. Do your research before falling for well thought out marketing ads. Many prices on Black Friday are actually higher, a few minutes of research before Black Friday is a must so you don't get screwed.

4.  Paying Shipping

One thing I have learned from years of being an extreme couponer and business accountant is that paying shipping is a waste of my hard earned money. With the countless options of free shipping offers you can always find the same deal elsewhere where they offer free shipping. Many Black Friday online deals will actually inflate the shipping costs to recoup from the sales.

Amazon Prime now offers monthly subscriptions, paying $7.99 to get all your shopping packages delivered free is one of the best deals out there. PLUS you get a 30 day free trial. Which you could start using the day you start your shopping.

Related Resources: How to get Amazon deals FREE

5. Shopping on Black Friday

If you truly want to save money on Christmas shopping and not go into debit for gifts then avoiding Black Friday altogether is the best choice. Black Friday forces people to make split minute decisions and 9 out of 10 times you the buyer is left with a raw deal.

Start your holiday shopping each year by April at the latest. Grab 1 or 2 gifts each month and put them aside. By the time Black Friday rolls around your shopping is done and you can sit back with your feet up and enjoy the fact that your hard earned money will still be in your bank account in the morning.