RENO — We all know the reference to Black Friday, namely the sales on the Friday after Thanksgiving. Planning early for holiday sales can help you save money and keep within your budget.
The holiday season is one where many consumers overspend. In a recent CNET survey, nearly 7 in 10 shoppers stated they were likely to exceed their holiday budget.
BBB has five tips to help consumers stay within budget and still take advantage of deals.
• Write down your budget including who you need to purchase gifts for, cost and what your initial ideas are for those gifts.
Look for these gifts in-store and online, pricing them to make sure they are within your budget.
Comparison shop, checking to be sure that very low prices or unknown websites are not fraudulent using BBB.org and BBB.org/ScamTracker.
• Keep your budget up to date (how much you have spent) as the season progresses.
If you are strapped for cash don’t be tempted to purchase more than you can afford.
• Watch for sales. Reference prices are not always accurate. When a website says the original price or MSRP was $499, but is now $399 - that may not be $100 of savings, it may be only $20.
Know how much the gift costs on most websites, so you know a true sale.
• Always use a credit card when shopping online. Some credit card merchants allow virtual cards online, which can reduce identity theft.
If you have rewards on your credit card for purchases, use your card and pay off the balance each month, so you don’t pay interest or other fees, and get the rewards.
• Be willing to change gift ideas. If you find yourself suddenly over your budget, revise ideas/gifts for those left to buy for so you can stay within your budget. Consider handmade gifts (cookies, crafts, knitting, etc.) to help keep your costs down. Include the cost of supplies in your budget.
Don’t feel the need to keep up your spending to “keep up with the Joneses.”
The holiday season is one of the most stressful times.
Take time to do a little research before you purchase online, so you can reduce some of the stress. BBB offers lots of information about online shopping including how to review social media ads prior to purchase, recognizing typosquatting, and making sure that sports apparel is genuine.