In just two short months, the holiday season will be upon us. Those weeks will be jam-packed with travel, family gatherings, giving, and of course, shopping. Black Friday is famous for its doorbusting deals, potentially helping you buy holiday gifts for a fraction of the usual price.
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However, if you’re budget-conscious, there are several things you shouldn’t buy during this shopping event. We’ll share what purchases to avoid, explain why, and offer some Black Friday guidance that will help you save money.
1. Furniture
Your sofa may be showing its age, or your dining room could look great with a new table and chair set. However, Black Friday might not be the best time to buy new furniture. Other shopping events, such as those on Presidents’ Day, Memorial Day, and Labor Day, often feature furniture deals, so it can pay to wait just a few more months.
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2. Holiday Decor
Retailers do an excellent job displaying the latest holiday decor, making you think, “Hey, my house could look like that!” But purchasing wreaths, lights, and other holiday-themed doodads a month before the celebration is a surefire way to overpay for them.
Stores may offer discounts on these goods on Black Friday. However, the best time to stock up on decor is after the party is over.
3. The Cheapest Electronics
If your eyes get wide when you see a gigantic TV marked down to a price so low it doesn’t seem to make sense logically, you’re not alone. Suddenly, you may be thinking of buying one for each room in the house.
However, the store will likely have a very limited quantity of these items, making your dream of having an 80-inch screen in your bathroom a near impossibility. Plus, these TVs are often cheap for a reason. They’re probably last year’s model, an off-brand made with inferior parts, lacking in features, or some combination of these.
4. Jewelry
When you scroll through your social media feed this holiday season, you’ll probably see many pictures of happy, newly engaged couples. Jewelers sell a lot of diamond rings leading up to the winter festivities. The increased demand means limited (or non-existent) discounts on Black Friday because the store doesn’t have to offer them to entice buyers.
6. Workout Gear
If you’ve been thinking about establishing or enhancing a home gym, you may want to pump the brakes until February. By then, many people will have forgotten about their New Year’s resolution to get fit, causing retailers to mark down workout equipment.
7. Snowblowers
Depending on where you live, you might have to shovel snow from your driveway before going Black Friday shopping. Since the holiday season happens over the winter months, snow removal equipment will be in high demand and thus not heavily discounted. That means you should probably wait until spring is around the corner to buy a snowblower in preparation for the next season.
What To Keep In Mind Before and During Shopping
If you want to score great deals while making sound financial decisions this Black Friday, follow these best practices.
- Actually create and follow a budget. If you don’t set a clear spending limit, you’ll likely have money problems when it’s time to pay bills a few weeks later.
- Understand how sales really work. Retailers typically jack up prices before major shopping events, making it seem like you’re getting a better bargain than you are.
- Have some patience. There will be other sales between Black Friday and the holidays, so you can space out your spending.
- Use price tracking apps, like Camelcamelcamel, so you can gauge if the Black Friday sale is really a good deal.
- Take stock of what you truly need or want before making your shopping list. Sure, replace broken or worn-out items and pick up some holiday gifts, but resist impulse buys.
If you don’t have a clear reason for buying something this Black Friday, skip it. The price may be good, but it won’t really be a deal.
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This article originally appeared on GOBankingRates.com: 6 Common Black Friday Buys That Break Your Budget
