Cyber Monday Shopping Strategies
Just like in brick and mortar stores, shopping online can cause unwanted consumer debt. Putting in some work ahead of time can make you a smart shopper on Cyber Monday.
Set a Budget for Cyber Monday
Setting a budget for Cyber Monday is the first step. A budget will give you a spending guideline. As long as you stay within the guideline, you shouldn’t fear overspending. Follow these steps to establish your holiday shopping budget:
- Locate your spending cash. Find room in your household budget or use extra income.
- Complete this Holiday Shopping Checklist.
- Identify the people you want to shop for and some ideas for presents.
- Divide your budget amount among the recipients.
Knowing your budget and how many people you need gifts for are critical to avoid drowning in debt. If you have $200 to spend for 10 people, you can’t realistically get everyone expensive gifts. The easiest method is to spend about the same amount on everyone. In this case, it would be $20 per person.
Research & Prepare for Cyber Monday Shopping
Just because it’s Cyber Monday doesn’t mean you will automatically be paying the best price. Price shopping can help ensure that you are getting the best deal on your purchases. There are also plenty of apps, like RetailMeNot, and browser extensions to help you price shop and get coupons. Amazon finds deals for you when you use their Universal Wishlist add-on button.
Look for sites offering free shipping – some may do so if you spend a certain amount, so you can pool purchases to achieve that price. You should also make sure you’re purchasing from reputable retailers and using a secure site.
Creating a budget and researching prices and sales can make a huge difference in your Cyber Monday shopping experience. Take some time for this strategy so you can shop successful as part of debt management. Remember, the holidays aren’t measured by what you spend on gifts; it’s about time together as friends and family.