It’s time for the big question you run into every holiday season: how much money can you save on Black Friday? If you aren’t living under a rock, you’ve probably already seen Black Friday ads and banners for 2022. That means the countdown to the most important spending day has already begun.
Black Friday can be confusing and stressful when you don’t have a plan. You might miss things on your list, buy something at one store just to find a better discount on the same item at the next… the list goes on.
Black Friday is synonymous with deep discounts, but between tricky marketing, BOGO deals, and last-minute decisions, the chances of drowning in impulse purchases are pretty high.
So, the real question is: can you save money on Black Friday?
The good news is that the answer is YES! All you need is a plan, so let’s get started!
If you’re making plans to shop this Black Friday, then you definitely want to save money and get the best deals. But how much money can you save on Black Friday when you have a plan? And what steps do you need to take to get there?
1. Research, plan, and budget before Black Friday
The biggest mistake you can make Black Friday is going in without a plan and budget.
Sure, Black Friday features a ton of discounts, doorbusters, free deliveries, and many other irresistible offers. But are these deals worth it?
Some tricks retailers use could cost you a lot of money. And you’re more likely to fall for these tricks if you don’t have a shopping plan.
There are tons of advertising tricks that get you to spend more money on Black Friday. To outsmart the big-budget marketing teams, you need to do your homework before heading our to shop.
For instance, Black Friday is no longer a one-day event. It starts as early as October and runs into the holiday season. This means you can prepare and plan for Black Friday ahead of time.
Make your list of gifts and check prices online and through the Black Friday ads. You can use websites like blackfriday.com to stay up-to-date on the best deals as they’re released.
2. Use coupons
Another way to save a considerable chunk of change on Black Friday is to use coupons.
Using coupons every time you shop can help you save up to $1560 per year. There are lots of different coupons that you can use on Black Friday to save money. When you keep your eyes peeled, you’re bound to find one or two!
- Store coupons
These are the coupons you get from the specific store you’re shopping with. Check for store coupons and use those to save money on Black Friday purchases.
Often, the store coupons offer a dollar-off purchase, but 10-20% off isn’t unheard of!
- Digital coupons
Digital coupons are the online version of the retail store coupons. They’re often only good at specific stores or for specific brands.
There are coupons for all kinds of categories – and you can sometimes stack coupons or cashback through different apps.
- Printable coupons
Printable coupons are digital coupons that you can print and redeem in-store.
Coupon Sherpa is a great site for printable coupons across brands and retailers – check them out!
A Catalina is a coupon that you get after checkout, and use on your next purchase at the same store.
You’ll usually get a Catalina when you purchase products with a particular deal. This is especially helpful if you’re getting multiples of the same items as gifts!
- Rebate coupons
A rebate coupon basically another way to find cashback offers. This means that you’ll pay full price upfront, and then get the dollar amount you’re saving later.
- Loyalty programs
With loyalty programs, a retailer rewards you with points that you can redeem on your next purchase. Loyalty programs are playing the long game, so make sure you sign up well before Black Friday and make sure it’s a store you shop at often!
- Manufacturer coupons
This type of coupon comes directly from the manufacturer or brand of the item you want to purchase.
You’ll want to visit the manufacturer’s site to look for these. So, for instance, say you’re shopping for a Dell laptop and planning to purchase at Best Buy. First, go to Dell’s website to look for a manufacturer’s coupon and then compare it to retailer coupons and app deals to make sure you’re using the best coupon.
- Newspaper coupons
Yes, these are still around! You can find them in local newspapers, store circulars, and occasionally larger publications.
How much money can you save on Black Friday with coupons? Well, it depends. The most important thing is making sure know the store’s policy on coupons and you’re organized. Otherwise, you risk misusing coupons and getting the worse of two deals.
3. Get rewards on Black Friday
If you can get rewards to fill your shopping bags on Black Friday, then you can save big time. Brands spend billions in customer reward programs to entice you to be a more loyal customer.
Retailers with great loyalty rewards:
- Target Red Card —Target’s loyalty program rewards you 5% on purchases every time you visit the store or shop online.
- Bed, Bath and Beyond — BBB offers many rewards when you use their credit card to shop, including using the card to make purchases at its sister companies like Buy Buy Baby. Just make sure you pay off the card on time!
- Amazon Reward Program — Amazon will give you 3% cashback on any dollar you spend. They also have offers like gift cards and rebates.
- Sephora — With the Sephora loyalty program, you earn a point for a dollar you spend on beauty products. Then you can use those points for free or discounted products.
- Macy’s — This store has a loyalty program in four tiers; bronze, silver, gold, and platinum. You get loyalty reward points every time you shop at Macy’s, and you can use these “points” on future purchases. The higher the tier, the better the rewards.
4. Understand return policies
Another tip to help you save on your Black Friday shopping spree is understanding the return policy.
There are tons of reasons you might need to return something – from changing your mind on a gift to a product defect. Without knowing the return policy, you’d be out the money you spend if you need to return it.
Different stores have different return policies, including holiday-specific return policies. Walmart, for instance, usually offers a 30-return policy but has a different approach for holiday purchases.
Make sure to read these policies, keep your receipts and packaging, and make a note of where you bought the item, so it’s easier to take back an item for refund or exchange.
5. Shop with the best card
You can also save on your Black Friday shopping by making sure you use the best credit cards. These cards not only offer the highest cashback rewards, but protect you from fraudulent activity. Some even offer extended warranties on expensive appliances or devices.
Check out Discover It for 5% cashback on your online purchases with stores like Amazon, Walmart, Target, and grocery stores.
6. Use cashback sites
Cashback sites are affiliate websites that will give you cash rewards for purchasing through their affiliate links and using their promo codes.
How much can you save on Black Friday, really?
The important thing to remember about Black Friday is that, at the end of the day, you are spending money. This means you can’t really “save” on Black Friday, just spend less. But spending less is still a win in our books! Grab those rewards and cashback for every purchase, whether online or in-store.
Here at Penny Calling Penny, our holiday articles are only a part of our growing library. We’re dedicated to helping you learn to manage your money, no matter where you’re at on your financial journey. Subscribe to our newsletter so you never miss a Penny, and we’ll see you next time!