One survey says Americans spend, per person, about $313 over the Thanksgiving holiday. Part of the holiday shopping season is Black Friday. That includes November and December, according to the National Retail Federation (NRF).
However, according to a 5-point strategy from EveryDollar.com, there are ways to shop without blowing the budget.
The survey suggests planning your budget, researching deals beforehand, drafting a team of people, forming a gameplan, and defending your budget.
Planning your budget would include making a list that of both who you’ll buy for and what you plan to spend per person on Black Friday.
Researching deals before shopping means pulling out the ads—paper and/or online to look deeply into the fine print and looking into doorbusters, early-bird specials, or limited quantities, sale restrictions and extended store hours.
Drafting a team is important because you aren’t just shopping with each other for protection from flying elbows over low big-screen tv prices. You’re also together to keep each other accountable and stick to the plan.
Forming a game plan helps so you can plan your spending. Where will you go first? Don’t forget that the sales go longer than Black Friday. There’s also Small Business Saturday, Cyber Monday, and even Giving Tuesday. Bring snacks so you stick to the budget.
Lastly, defending the budget means not getting distracted by the rules you set down for yourself and your team. Stick to the plan.
For the full survey go here.