How to Shop Smartly on Black Friday and Cyber Monday
With Black Friday and Cyber Monday right around the corner, it can become very easy to let your spending get out of hand as you prepare for the holidays. With so many great deals available right at your fingertips, it is important that you go into Black Friday and Cyber Monday with a plan and a budget so you do not ultimately hurt your bank account – and your credit score overall! Here are a few tips on how you can best shop during Black Friday and what you need to keep in mind to stay financially smart:
- Compare sales and deals. Chances are, whatever you are looking to purchase is likely sold at another establishment. Before making the purchase, be sure to check around online or at other stores that sell that same item to make sure that you are getting the best deal.
- Know your credit limit and credit card opportunities. Each credit card that you have will have a different credit limit and some different rewards that you may be able to tap into while you are shopping. Make sure that you are spending responsibly and not totally racking up your card in debt. At the same time, make sure you are using the right cards to be able to get the right reward points that will help you in the future.
- Pay off credit card statements in full. Lastly, be sure that whatever you purchase on Black Friday and Cyber Monday you are able to pay off totally in full when the statement comes around. Even though you will be getting great deals on items, carrying a balance will result in interest charges, which add up fast!
