How to get the best Black Friday deals without losing control of your finances

This is the best time for bargain hunters and shopaholics. Whether you’re shopping for yourself or for your loved ones, you should be mindful of spending every bucks and never let yourself go overboard.

Have a list in advance

Decide on what to buy and the stores you’d like to buy these stuffs from. This will help you make most of the early bird specials since you know what and where to buy beforehand.

This list will also serve as your “game plan” for Christmas gift giving. You decide which items to give to the people on your list.

You can check this list of products that are best to buy on a Black Friday and products that offer maximum savings.

Plan how much you’ll spend per person or individual

The list of items is not enough. You need to indicate a corresponding amount you’re willing to shell out for each of the name on your list. If you want to spend a maximum of $50 for each kid, then stick to that amount. The more organized you are, the more successful your shopping will turn out.

Choose “big ticket” items that will give more savings

Buying flat-screen, laptop, or any other gadget will help you save more than the usual items (e.g. shoes, clothes, makeups, etc).

Television sets and laptops are “doorbusters” so this is the perfect time to buy these items if you want to replace the old ones or if you want to resell these stuff.

Buy only what you need

Many stores charge for re-stocking fee which ranges from 5 to 15 percent. Again, stick to the items and target budget on your list. Don’t purchase more than what you have planned just because items are on sale and have dropped off up to 60% off.

Be mindful when using your credit card 

It’s enticing to shop with your credit card, but you might lose control. Bringing with you a credit card will trigger impulse buying. Always check your credit score before buying from one shop to another.

Financial experts say that there’s nothing wrong with using credit cards for holiday shopping — especially if you don’t have cash upfront. However, you should limit the amount that you’re capable of paying and avoid getting into more debt as much as possible.

There are sale items on the night of Thanksgiving. Some retailers are posting items that can be ordered online and picked up at the local store.