Tips to Shop Smarter this Holiday Season

Tips to Shop Smarter this Holiday Season

By: Nicholas Mattaliano, Digital Communications Administrator

Date November 23, 2022

The holiday shopping season is officially underway, and many retailers are offering deep discounts to bring buyers into stores. Nearly 13% of all retail sales in the United States occur between Black Friday and Christmas1.Shoppers tend to have strong opinions about Black Friday shopping, with 39% of Black Friday shoppers saying they are excited according to Statista2. These significant shopping days can be an efficient way to get all your holiday shopping done at a discount, but it is essential to be prepared to navigate the stress and finances involved. Despite what many shoppers may think, there are tangible ways to budget your spending this Black Friday so you can stay on track with your financial goals.

a woman window shopping while holding her dog

Make a plan

Planning to make the most of your shopping trip is key to a stress-free experience. Many shoppers find early or late-night shopping to be helpful in minimizing the crowds and congestion of Black Friday. Whichever you choose, it is essential to plan out your strategy ahead of time. This strategy can focus on what timeframe you choose to shop or what you choose to put on your list.

Research your most coveted items. Check the prices and find the best Black Friday deals on your holiday shopping list. One of the benefits of taking advantage of Cyber Monday and shopping online is that you have the ability to research the best pricing options. Surveying online deals, you can quickly see how much every gift on your holiday list will cost before you make a purchase. It is also helpful to have a backup plan for specific highly coveted gifts that may sell out if they are in high demand.

Trim your shopping list

With the current economic environment, some experts are predicting that Black Friday might look different this year3. Prices are expected to be higher even with store discounts to account for inflation. With this in mind, you’ll need to figure out the essential item you want to give to a loved one for the holidays. An estimated 140 million4 Americans plan to go shopping this year, and the average shopper will spend $362.

Set a limit and use cards to your advantage

It is easier said than done, but setting a budget is crucial for a successful holiday shopping experience. While it is easy to get caught up in the excitement, it is important not to overspend so you have some open room to enjoy other holiday activities.

One way to ensure that you are at ease this holiday season is to ensure that your credit cards are working for you. Some cards offer programs that give you special rewards and cash back. The Affinity Cash Back Rewards credit card is a great option for shoppers who are hoping to see returns on what they buy. You can earn 5% cash back on everyday purchases and earn money back after spending $3,000 within the first 90 days.

While presents are certainly the focus of the commercial holiday, the most important part of the holiday season is to make sure to enjoy the time with your family and friends. Affinity is dedicated to helping its members work towards a healthy state of financial well-being during every season. For more tips on holiday savings, listen to our Wellbeing and Your Wallet podcast!5

This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments regarding the matters related to your condition.

  1. Retrieved from: https://www.zippia.com/advice/black-friday-statistics/#:~:text=Especially%20when%20you%20consider%20the,on%20Black%20Friday%20in%202021
  2. Retrieved from: https://www.statista.com/statistics/956129/consumer-attitudes-selected-countries-participation-black-friday/
  3. Retrieved from: https://www.nerdwallet.com/article/finance/expert-predictions-black-friday-2022
  4. Retrieved from: https://www.finder.com/black-friday-statistics
  5. Retrieved from: https://wellbeing-and-your-wallet.captivate.fm/