Black Friday shoppers should slow down before diving into the shopping frenzy, according to a local financial expert who warns that not all advertised bargains deliver real savings.
Martha Prestin, chief financial officer with Obee Credit Union, recommends tracking prices on desired items now to distinguish between genuine markdowns and artificial sales.
“I like to start tracking costs of items now. So if I start looking at the price of items, I’ll know if that that’s a good deal or if it’s just a slight deal,” she said.
Prestin emphasizes advance planning to avoid costly impulse purchases.
“It’s very important to be thinking ahead about what you want to spend. So you do not do those impulse items,” she said.
Create a gift list before Black Friday and use one credit card for all holiday shopping to track spending in real time.
“Maybe you made that list and you stuck to it for all of your gifts, but then you bought decorations and you traveled and you went to see The Nutcracker,” Prestin noted.
While Black Friday offers legitimate discounts on appliances, electronics and seasonal items, consumers should comparison shop.
“Just because it’s on sale doesn’t mean it’s a good sale,” Prestin warned.
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