Boxing Day, Black Friday and Cyber Monday offer some of the biggest sales of the year. However, these big sales events can have an unintended consequence on your wallets. Here are five ways to be more financially savvy during holiday sales events so you can keep more money in your own pockets.
#1: Always Compare Prices Online
By comparing prices online you more likely to understand if that 50% off sticker price is actually a discount. You also may find there are better prices elsewhere. Some recommended price comparison sites include Google Shopping (https://www.google.com/shopping) and PricePirates (www.pricepirates.com).
#2: Build a List and Stick to it!
Having a list makes it less likely for you to get distracted during a holiday event. A list also allows you to strategize and go for the product you need as opposed to the products you want. There is also a less likelihood that you will have buyer’s remorse the next day.
#3: Use cash or debit card
Always purchase using cash or pre-paid debit cards. Even better allocate just enough cash to cover the purchase including tax. This will achieve two objectives. First, it will prevent overspending and second you will buy something you will need as opposed to something you want.
#4: Know the Return Policy
Always check the return policy. Some retailers during the major holiday events reduce the number of days you have to return the product. Other retailers require the original receipt to return the product. Furthermore, there are some products that are not even returnable. The best thing you can do is always check the retailer’s return policy before making the purchase.
#5. Go Open Box
The best bang for your buck is open boxes. It is a well-known fact that many open boxes are products that are only opened once and then returned. Retailers will then discount the price even further or sell the product back to a third party open box retailer. So instead of buying something new in Black Friday or Boxing Day go save some money and shop at an open box retailer. A good open box retailer to check out include Open Box Buy Online https://www.openboxbuyonline.com/ or Amazon Warehouse Deals (https://www.amazon.com/Warehouse-Deals).