Get The Most Out of Black Friday + Set Yourself Up for Your Best Year Ever

Black Friday is next week! And Cyber Monday is a little over a week away! Are you ready? Believe it or not, planning for this week of special deals can be critically important for your financial future. 

Most people are looking for TV’s and consumer goods but the savvy biz owner knows that many tech and software companies are also offering massive discounts on all sorts of business solutions. If you are going to pay for them anyway, why not grab a deal?

During this time of reduced prices and excessive inventory you can find pricing that may just save you thousands of dollars in your biz. For example, last year I was able to find 50% - 70% off pricing for software subscriptions such as MeetEdgar and Wordpress plugins that are essential to running my biz. 

In fact, if you have subscription plans, you may want to do a little research and see if these companies have any special deals coming up this season. Budget money ahead of time and be ready to take advantage of the deal. Then for the rest of the year you can allocate money in other places.

So if add in your Black Friday and Cyber Monday spending planner into your overall biz budget, you can allocate funds now that you don’t need to spend later. Knowing this ahead of time will allow you to be focused on how best to use your resources in support of your biz goals objectives.

Now that you know how important the week of Black Friday can be to you financially, let’s talk about how to make the most of this important opportunity.

The first thing to do is to create a Black Friday/Cyber Monday budget, then you incorporate it into your larger picture biz budget and then stick to it. Doing so will help you actually save money when you spend money! Rather than getting a bunch of things at reduced prices. There is a difference! 

Here Are The Main Reasons To Create A Budget Ahead Black Friday or Cyber Monday Shopping Days/Week

• There is temptation everywhere and having a budget before you start spending will help you stay focused on what you planned for.
• Thinking about spending ahead of time will help you identify what you really need and what you can afford to spend on it. 
• Planning purchases ahead of time for items you would buy anyway, can save you hundreds if not thousands of dollars over the course of months or the whole year.
• It will help you resist the impulse purchase by knowing how much money you have and what your financial priorities are. You can spend intentionally for best results.

You Know You Want to Spend Money, So Do Your Research Ahead of Time And Save the Aggravation of Buyer’s Remorse. I am all for smart purchases and for me this means researching what I want to buy so that I know I am getting the best possible deal. 

Savvy Shoppers Know How To Research Their Purchases and Always Follow These 6 Steps for Any Shopping Trip

• Compare prices ahead of time for what you want to purchase and put the items you want in your budget to see if you can afford them all. If not then prioritize what you want the most.
• Compare products ahead of time. Just because they are cheap doesn’t mean you should buy them. The internet makes it easy to compare features and options. Make sure you are getting the item that has the overall best value.
• Look for early bird shopper discounts. Many brands will advertise specials ahead of time to make sure they get plenty of traffic to their store or website. Know what these are ahead of time so you can get to them first and/or don’t miss out on early deals.
• Sign up for alerts from your favorite store or brand. They will have an app, chatbot or email list you can sign up for. Pay attention to deals.
• Check out ads in local papers, consumer websites and coupon websites. Bookmark websites of brands you enjoy. Make it easy to find out if they are offering anything you want to purchase.
• Look for social deals and promotions. Social media is a great place to find local vendors, artists and shops you want to support. Follow them on social media and stay connected.

 Plan Ahead For A Successful Day/Week by following the guidelines below. You don’t want to purchase something you can’t return and/or show up at a store only to find their deal was online ONLY.

• Have a plan and start early, get up and get going ahead of as many people as you can.
• Download an App for coupons, deals, traffic alerts and parking.
• Plan where you want to shop - do you have to go to the store to get the deal? Or is the deal online ONLY? Make sure you know before you go.
• Know store policies ahead of time for price-match and returns
• Bring any ads or coupons with you in case they are necessary to show in person.
• Don’t forget to ask for a gift receipt with your purchase just in case.
• Shop for the big ticket items first!

 Make Your Rewards Programs Work For You. Your credit card company might offer specific rewards and also consumer protections. Know what these are ahead of time and use the best card for the purchase. It’s also a great idea to shop at the retail stores or online stores that offer you special deals for being a cardholder or repeat customer.

Here are a few of the Rewards and Protections Available:

• Retail specific rewards programs such as Target, Tuesday Morning, Macy’s, Amazon, eBay and/or Nordstrom
• Credit Card rewards programs
• Credit Card Warranty protections with purchase
• Return and Fraud Protections with some credit cards.
• Sale price protection with some credit cards or retail outlets.

Black Friday and Cyber Monday are both HUGE shopping days and as a result there are a TON of people selling a wide variety of items just about everywhere. This can easily be overwhelming and very expensive if you get caught up in it.

Creating a budget and sticking to it was one of the best choices I made for myself. This budget lets me plan ahead financially for how much I want to spend on myself, family and biz. This way I don’t spend too much that I wasn’t anticipating and throw off the rest of my holidays.

At the same time, Black Friday and Cyber Monday are fantastic opportunities to get started with your holiday gift giving. If you have some holiday money set aside then this might be a great opportunity to save a few dollars by purchasing now.

The main thing to keep in mind is to get organized and plan ahead. Be intentional about how you spend your money and make the most of the funds you do have. And reduce stress levels by being aware of the impact of your choices and how they support your overall goals. 

To help you get started with a Black Friday/Cyber Monday budget, I created a sample template here. You will find pages for both Black Friday and Cyber Monday. I also included an example page that shows you how to use and also practice on. You can find it HERE.

 P.S. Whatever you do, consider your local option first. This is a great time of year to support local business, craftspeople, artists and others who produce the highest quality goods at the best values. And they are in your community which is a great place to put your financial support and efforts into.