How to Get Ready for Black Friday and Cyber Monday 2024 Deals, plus Shopping Tips to Find the BEST DISCOUNTS!!!

The five-day stretch from Thanksgiving Day to Cyber Monday is often among the most bustling shopping periods of the year. According to the National Retail Federation’s holiday season report, annual survey, this year might see an unprecedented number of shoppers both in stores and online.

If you’re shopping this Black Friday and Cyber Monday, the most important thing you can do is create a budget—and stick to it.

This may seem straightforward. However, Black Friday deals, particularly those enticing doorbuster offers in limited supply, are cleverly crafted to draw you into stores or online shopping, encouraging you to purchase items you hadn’t planned on. It’s incredibly easy to get swept up in the thrill and end up spending more than intended. Set a budget for your Black Friday shopping adventure in advance, and stay strong against big impulse buys, especially when you’re uncertain about the value of the deal. Stay focused and make your shopping experience a rewarding one!

Be very cautious with store credit cards offering interest-free promotions. These deals can be useful if you are committed to paying off the full balance before the promotional period ends. Otherwise, you might find yourself stuck paying for the deferred interest on the entire purchase amount, even if you’ve already paid off most of the balance. 

In the article below, we’ll walk you through how to find the best Black Friday and Cyber Monday deals, how to tell if a sale is actually a bargain worth your money, the common pitfalls and traps to avoid while bargain-shopping, and tips on how to save even more money on the deals you find!

If you have found some great deals and just need a little extra cash to make them yours, contact Payment 1 for a great lower-interest rate personal loan from the company you can trust!

Discounts You Can Expect to Find This Black Friday and Cyber Monday

Usually, Black Friday offers an excellent opportunity to discover fantastic deals on autumn apparel like flannels, jeans, jackets, and accessories, along with televisions and other electronic gadgets.

“You are easily going to see 20% to 30% off,” Adam Davis, managing director at Wells Fargo Retail Finance said, but “not necessarily storewide.”

Depending on the store, markdowns on some categories could be as high as 50%, according to Lauren Beitelspacher, a professor of marketing at Babson College. It’s worth noting, though, that top-tier brands like Nike, Alo, or Lululemon, which are known for their high-quality activewear, are expected to limit their discounts to around 20% or 30%. “It’s a fine balance with maintaining the premium brand integrity and offering promotions.”

Just like in past years, these major retailers recognize how mindful consumers are about pricing during the holiday season. To entice price conscious shoppers, retailers will likely offer incentives and bonus rewards, such as a free gift card with a minimum purchase.

If you’re gearing up for a getaway, “Travel Tuesday” may be your golden opportunity to grab amazing deals on flights, cruises, and tour packages. Plus, numerous hotels are slashing their best available rates by 20% to 30%, making it an ideal time to book your dream vacation.

Resources to Find the Best Black Friday and Cyber Monday Deals of 2024

• Yahoo!Life, NY Times Wirecutter, and Tom’s Guide offer frequently-updated lists of the best Black Friday deals from Amazon, Target, Walmart, Wayfair, Macy’s and more
• Engadget and IGN have collected an extensive list of Black Friday sales on a wide variety of gadgets, gear, and electronics
• TechRadar and Wired both maintain lists of discounts to please any electronics lover

Make the most of the deals you find by getting a best-rate loan from Payment 1!

What Not to Buy On Black Friday This Year

It might be a good idea to hold off on stocking up on beauty products and footwear, as those categories often offer better deals on Cyber Monday.

When it comes to toys, exercising patience can pay off if you hold off until the last two weeks of December. As for holiday decorations, you can discover amazing deals in the final days before Christmas or immediately afterwards.

In January, during the “white sales,” you’ll often find the best discounts on exercise gear, linens, and bedding. Meanwhile, some of the best deals on furniture and mattresses appear during holiday weekends like Presidents’ Day, Memorial Day, and Labor Day.

Shopping Tips to Maximize Your Savings and Get Even Lower Prices

Think about utilizing a price-tracking browser extension like Honey or Camelizer to monitor price fluctuations and notify you when there’s a decrease. Honey can also search for available discount codes to help you save even more.

When you’re out shopping, consider using the ShopSavvy app to compare prices and track the price history of products you’re searching for. If you find an item cheaper at a different store or well-known website, many retailers are willing to match that price.

Maximize your savings by stacking deals: Use your credit card rewards alongside coupon codes and a cash-back site like CouponCabin.com to get money back on your purchases. After that, snap photos of your receipts with the Fetch app to earn points, which you can exchange for gift cards at popular stores like Walmart, Target, and Amazon.

Be sure to keep an eye on price adjustment policies. If something you purchase during Black Friday is marked down even further soon after, you might be eligible to ask for a price adjustment. Retailers like Target offer season-long policies that could apply to items bought up until December 25, sometimes even including early Black Friday deals.

Black Friday can be a great time to do all your holiday shopping, and Payment 1 can help with a lower-interest rate loan!

3 Huge Black Friday Mistakes to Avoid

As the excitement for Black Friday builds, you’re certainly not the only one feeling the thrill! With just a couple of weeks to go, it’s the perfect time to fine-tune your shopping list to make the most of the upcoming deals.

According to YouGov, about 36% of Americans are gearing up to hit the sales this Black Friday. Any shopper knows, in the next few weeks you’re likely to come across a flood of offers both online and in physical stores.

However, it’s important to remember that shopping on Black Friday might come with its own set of challenges. Here are a few big pitfalls to watch out for during the holiday season:

1. Don’t think that everything you buy right now is automatically a fantastic deal

Black Friday has a way of convincing us that we’re snagging unbeatable deals, no matter the circumstance. The truth is, many stores offer a small selection of deeply discounted items on this day, while only slightly reducing prices on other stock. This strategy aims to entice shoppers to fill their carts with these additional items. Imagine scoring that amazing kitchen gadget on Black Friday for just $25, especially when you’ve often seen it priced at $75. That’s an exciting deal that could be the best buy of the day! However, here’s what you need to watch out for: if you arrive at the store only to find it’s sold out, you might be tempted to pick up a similar gadget for $30. But if the usual price for that alternative is $35, the savings aren’t nearly as impressive. Plus, this new item might lack the features that made the original one so appealing. Stay focused and make sure you’re getting the best value!

In WalletHub’s 2023 report on the Best Things to Buy on Black Friday, it was found that 35% of products at leading retailers didn’t offer any discounts compared to their prices before Black Friday. The analysis involved comparing Black Friday deals with prices on Amazon from earlier in the fall.

If you plan to shop on Black Friday, take some time to investigate prices both before and during the event. Don’t automatically believe that every discount is substantial. Additionally, if you have a particular item in mind, remind yourself that it’s okay to leave without it if it’s not in stock.

2. Don’t think you need to wait until Black Friday to snag a great deal (early sales can be great, too!)

Many individuals postpone their holiday shopping until Black Friday, thinking that’s when they’ll find the most incredible bargains. However, you might actually score even better deals in the weeks leading up to Black Friday. In fact, numerous retailers, including Target, Kohl’s, and Costco, are already offering Black Friday specials.

Black Friday has evolved from a one-day event to an almost month-long shopping extravaganza. So why wait? Start exploring those deals today!

3. Don’t think that every financing or “buy now, pay later” offer is a good deal

You might find that your savings account doesn’t quite have the funds to cover all your Black Friday shopping. However, exercise caution if you’re considering using a “buy now, pay later” option from a retailer or seller.

These in-store options can initially look attractive since they often defer interest and may involve minimal monthly payments. However, they typically offer a brief period to pay off your plan—usually 12 weeks or less. It’s crucial to stay on track with these short-term repayment plans, as your credit score could suffer significantly if you miss a payment and you may get hit with big fees if you miss any payment deadlines.

Don’t get stuck in a bad, expensive in-store loan that turns your Black Friday bargain into a budget-buster! Contact Payment 1 to get a lower-interest rate loan you can afford!

Consider a personal loan from Payment 1 as an excellent option to fund your holiday shopping, especially if you find a fantastic deal you just can’t miss!

By choosing a personal loan, you have the advantage of spreading out your payments over a more extended period compared to a “buy now, pay later” plan. This approach can help you stay on track and avoid falling behind on your finances.

Payment 1 offers the MOST AFFORDABLE Lower-Interest Rate Personal Loans and Title Loans anywhere in Texas, Oklahoma, New Mexico, and Missouri!

As you plan your holiday spending, especially while deal hunting this Black Friday and Cyber Monday, drop by your local Payment 1 Financial Office or apply online for a fixed-rate personal loan or title loan!

YOU and Your Family are our Biggest Priority! We would love to be your lender who helps you make your holidays fun, memorable and completely stress-free!