While we are sitting back, relaxing, and maybe sleeping, we want those who do participate in Black Friday to have the tools they need to succeed.
Black Friday Shopping Tips
- Beat the Early Birds: Some stores have deals as early as Wednesday.
- Do a Price Comparison: If you have a specific items, brand, and model you are trying to buy, try to perform some research to see how big of a deal you are really receiving.
- Get Your Favorite Deals: If you have a favorite retailer, sign up for email alerts and check their social media feeds. Some offer exclusive discounts found only through selective media outlets.
- Check Review Before You Buy: If you aren’t sure if an item is worth the expense, check a quick review site such as Amazon.com. There typically are relevant and honest reviews so you can see if it’s worth the money.
- Even Door Busters May Not Be a Great Deal: You see the ad and it looks like the best deal on the item you’ve been wanting to purchase but, some of these deals may not be the best ones of the season and they may be a recycled deal (re-used from previous holidays).
- Price Match: Check and see if a store will price match on a particular item. They typically won’t match online pricing but it doesn’t hurt to ask.
- Check Prices in Store: Need to see if something is a good deal or not? Check out RedLaser and PriceGrabber.
- Get Exclusive Coupons: It’s still worth buying a newspaper on Thanksgiving. Many retailers offer select coupons you can’t find online.
- Beware of Mail-In Rebates: If you find a deal with a mail-in rebate, just keep in mind that up to 60% of customers never actually send in the information to receive the rebate.
- Shop with Cash or a Credit Card: Last year the news released huge store data breaches. Credit cards have better coverage when it comes to fraud than your standard debit card.
- Make a Budget: It’s easy to get caught up in the frenzy of Black Friday shopping. Make a list and a budget and stick to it.
- Check Out the Return & Exchange Policy: Some hidden fees may be found so make sure you know exactly what you’re getting yourself into.
- Ask for A Gift Receipt: This makes it much easier for the gift recipient to return an item.
- Missed a Deal?: If you missed a Black Friday deal, go back later in the day to see if they’ve restocked the item. Also sometimes people purchase and return items they decide they don’t need on the same day.
Find more tips on The Milwaukee Wisconsin Journal Sentinel.
Your Insurance & Black Friday
Do you know the biggest risks when it comes to Black Friday shopping? Do you know if something does happen if your insurance will cover you? Make sure you know the risks and see if they are worth those infamous Black Friday deals.
- Parking Lots – High Risk: The liability portion of auto insurance policies should cover any injuries or vehicular damage caused in a parking lot. A higher concern should be the possibility of theft. Try to hide your new purchases and lock all of your car doors. Homeowners insurance policies typically cover items stolen out of a car, if they are not always in the car and deductibles aren’t usually very high.
- Store Aisles – If the actual store neglects a risk and you are injured, you might be able to receive financial compensation. But keep in mind if you file a claim and collect, you do have to reimburse your insurance company.
- Identity Theft – High Risk: Last year 11. 6 million customers were involved in some type of fraud. Only 21% of those involved were actually notified. Be mindful of where your wallet, purse, cards, and money are at all times. Also, check your bank and credit card statements regularly to catch fraud early. Some renters and homeowners policies can include identity theft coverage but do not cover much in losses. The stand alone identity theft policies are relative cheap but they normally reimburse the expenses you pay restoring your identity.
Read more at Bankrate.com.