You’ve probably been receiving emails, app notifications, and mailings for days (or even weeks) about all the ways you can save money this Black Friday. Even if you eschew personalized marketing, signage, advertising and billboards are still there. Avoiding overspending amidst all this noise, while challenging, is possible. Here’s how.
1. View historical prices
Did you really get a good deal? Many retailers increase prices in the weeks or months leading up to Black Friday in order to offer what appear to be deep discounts. The fact that they’re selling these items at their usual prices or offering slim discounts means you’re being ripped off, taking advantage of what you thought was a good deal, causing you to overspend.
Raising prices to make discounts look better is technically illegal. However, many retailers still do this because it’s difficult to prove – you have to track the product’s price for months or even years. The silver lining is that many free price history tools exist. If you’re shopping online this holiday season, use it to see if you’re actually getting a good deal.
2. Plan your purchases in advance
Have you been looking around for solar panels but haven’t been able to find the right product? Do you urgently need an energy-saving heater this winter? If you buy with a plan, you’ll be less likely to overspend. Make sure you categorize items into separate “needs” and “wants” lists. This way, you can prioritize the first list.
3. Consider future costs
Certain items you can purchase through discounts will ultimately save you money. For example, LED light bulbs last 25 times longer than traditional incandescent light bulbs while using 75% less energy. Considering long-term costs can put a deal into perspective—especially if you’re planning a large purchase—helping you avoid overspending on fragile or resource-intensive items.
Consider your purchase an investment. You can calculate return on investment (ROI) by subtracting a project’s cost from its revenue and dividing that number by the project’s price. Assuming you spent $950 on solar panels, you would save $1,500 on your electricity bill that year, leaving you with $550. Plug the numbers into the formula and you’ll get a 57% return on investment in the first year.
4. Pay with cash or debit card
It’s easy to overspend with a credit card. A survey shows that from March 2022 to October 2024, about 37% of credit card holders are at or near their credit limit. Credit card burden. Pay with cash or debit card to avoid burdening yourself with high payments. Your future self will thank you.
5. Check the fine print carefully
Have you ever imagined that you were offered a great deal, only to find out at the register that it didn’t apply? Whether the discount is only available online, the store limits the amount you can buy, or your item is left out of the sale, it can be a frustrating feeling. Many retailers are counting on you to ignore the fine print. Don’t settle for them this year – check to see if you need to spend a certain amount, get a store card or show up at a specific time.
6. Keep other opportunities in mind
Do you remember Small Business Saturday? This is a big deal. By 2023, people will spend a total of $17 billion on more than 34 million independent businesses in the country.
How about Cyber Monday? Online stores offer deep discounts on thousands, sometimes millions, of items. If you want to buy something but the deal isn’t satisfactory, wait a few days. Remember, there is almost always another opportunity to get the item you want at a price you think is fair.
7. Set and stick to a budget
Overspending usually means buying more than you can afford. The average purchase on Black Friday 2022 is approximately $390. If you haven’t decided yet, decide the maximum amount you’re willing to spend. Once you set it, stick to it. To gain more control, make a detailed list of how much you want to spend on each item you plan to buy.
8. Consider the life of the product
Overspending doesn’t necessarily mean spending more—it can also mean spending more than you should. Would you rather buy a durable organic cotton shirt at 40% off or a cheap, thin polyester shirt at 98% off? While the latter may seem like a better deal, it won’t be as effective over time.
Avoid overspending on Black Friday by purchasing items that will save you money in the long run. Check each product’s warranty, reviews, and materials to see if they’ll hold up over time. Not only is this approach environmentally conscious, but it also ensures you get the most from your purchase.
Remember these tips when shopping on Black Friday
The temptation to take advantage of deep discounts is strong, but you are stronger. Prepare accordingly when shopping and remember these tips to avoid overspending on Black Friday. If you haven’t done all your shopping, you can definitely reuse these tips for Small Business Saturday and Cyber Monday.
About the author
Jane is an environmental writer and the founder and editor-in-chief of Environment.co, where she reports on sustainable and eco-friendly living.
