{"id":34722,"date":"2023-11-09T09:29:00","date_gmt":"2023-11-09T14:29:00","guid":{"rendered":"https:\/\/www.2026-pfc.reviewyoursite.ca\/blog\/?p=34722"},"modified":"2025-02-10T17:08:20","modified_gmt":"2025-02-10T22:08:20","slug":"black-friday-sales-tips-to-stay-on-budget","status":"publish","type":"post","link":"https:\/\/2026-pfc.reviewyoursite.ca\/blog\/manage-your-finances\/black-friday-sales-tips-to-stay-on-budget","title":{"rendered":"Black Friday Sales | Tips to Stay on Budget"},"content":{"rendered":"\n

What is Black Friday?<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n

The Black Friday sale in Canada is a bargain shopper’s delight! It marks the official date for retailers to launch some of their best sales of the holiday season. If you’ve recently arrived in Canada, you may be curious about all the hype surrounding Black Friday. You can expect to find great deals with discounts that range from 20 – 60% off the original price. This shopping event is called Black Friday because it used to mark the day when retailers started to make a profit and move their books from red (losses) to black (profit). <\/p>\n\n\n\n

Black Friday also used to be a one-day sale event. But in recent years it has turned into a lengthier period that is book-ended by Cyber Monday. During the Cyber Monday shopping event, you can expect to get the best online sales and discounts.<\/p>\n\n\n\n

The holiday season is the busiest time of the year for retailers in Canada. Black Friday sales are usually when people begin their holiday shopping.  <\/p>\n\n\n\n

During the holiday season, it\u2019s easy to get caught up in the excitement and emotion of the season. The sounds of holiday music, the pretty store windows, and the allure of flashy red sale signs can encourage all of us to overspend.  So, it\u2019s important to follow money-saving tips to avoid cutting into your essential spending needs. And when you carefully manage your spending, you\u2019ll avoid the blues that hit when your credit card bills arrive in January.<\/p>\n\n\n\n

<\/div>\n\n\n\n

When are Black Friday Sales and Cyber Monday Sales in Canada?<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n

In 2023, Black Friday sales occur on Friday, November 24. However, many retailers start launching early sales. So, you may want to watch out for these sales to avoid stock issues.<\/p>\n\n\n\n

Cyber Monday takes place on Monday, November 27, 2023. For this event, online retailers promote one-day deals to get people excited. However, as you can see Black Friday sales start before the event, Cyber Monday sales can extend for the rest of the week.  <\/p>\n\n\n\n

<\/div>\n\n\n\n

7 Tips to Stay on Budget When Shopping Black Friday Sales in Canada<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n

To get the best of the Black Friday sales in Canada, you have to be wise about your shopping approach. These tips can help you get the best deals and manage your spending. And, with inflationary pressures facing many Canadians, it’s important to avoid overspending. <\/p>\n\n\n\n

<\/div>\n\n\n\n

Tip 1: Create a Budget and Track Your Spending<\/strong><\/h3>\n\n\n\n
<\/div>\n\n\n\n

It\u2019s a great feeling to show your family and friends that you love them with thoughtful gifts. But, creating a holiday budget and tracking your spending is important to help you save money. When you budget, it\u2019s easier to keep your spending under control. While giving gifts during the holiday season feels good, it\u2019s important to remember how much you need to spend on other essentials such as rent and utility bills.<\/p>\n\n\n\n

To avoid overspending and impulse buying, decide how much you can reasonably spend without racking up your credit. When you set an upper limit on how much you can spend, it will be easier to avoid caving in and impulse buying. You\u2019ll appreciate this discipline in January when your credit card bill arrives! <\/p>\n\n\n\n

<\/div>\n\n\n\n

Tip 2: Understand What’s Behind “Doorbuster” Promotions<\/strong><\/h3>\n\n\n\n
\"Black
Retailers attract shoppers with loss leaders to attract customers.<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

Retailers often attract shoppers with loss leaders. This is a pricing strategy where retailers sell popular items at a loss to attract customers. While shopping, customers are likely to buy other items and increase sales of other items that are more profitable for the retailer. So, be prepared to show spending discipline. That discounted TV is only a great deal if you avoid spending hundreds of dollars on extra purchases that you may not need. <\/p>\n\n\n\n

When buying big-ticket items, retailers may pressure you to buy an extended warranty. Find out what the warranty period is on the product, and whether or not your credit card company provides purchase protection. Extended warranties will increase your costs.<\/p>\n\n\n\n

Don\u2019t forget to track your spending. Without tracking, you\u2019ll quickly overspend your budget. To track your spending, consider using online budgeting tools, or create a simple spreadsheet. Your shopping budget will help you avoid overspending on Black Friday or Cyber Monday sales events.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Tip 3: Be Wary of Store Credit Cards Promotions<\/strong><\/h3>\n\n\n\n
<\/div>\n\n\n\n

While you\u2019re shopping at your favourite store you may be enticed to sign up for a retail credit card. Because in many cases, the retailer will offer you an additional discount just for signing up. However, retail credit cards usually come with higher interest rates. For example, a typical credit card can have an interest rate of 19.99%. However, a retail credit card interest rate can be as high as 30%. And with inflation remaining at an all-time high in Canada, credit card purchases can get very costly. <\/p>\n\n\n\n

So unless you pay off your store credit card in full each month, you will pay more in credit card interest than your savings on those Black Friday sale purchases. <\/p>\n\n\n\n

<\/div>\n\n\n\n

If you\u2019re a newcomer, it\u2019s important to build a good credit history, especially if you want to make a major purchase such as buying a home or a car in the future. However, according to CreditCardsCanada.ca<\/a>, store credit cards carry less weight than standard credit cards on your credit score. <\/p>\n\n\n\n

<\/div>\n\n\n\n
\n
\n

Buying a Home as a Newcomer<\/h3>\n

Don’t miss this on-demand webinar designed for newcomers! Learn need-to-know insights on buying your first home in Canada with experts David Frattini & Rouska Bodourova. Understand home-buying costs, best mortgage rates, and how Scotiabank’s StartRight\u00ae Program can help. Register now and start your journey today!<\/p>\n REGISTER FOR THE WEBINAR \n \n <\/svg>\n <\/a>\n <\/article>\n

\n
<\/div>\n\n\n\n

Tip 4: Shop Around to Find the Lowest Price<\/strong><\/h3>\n\n\n\n
<\/div>\n\n\n\n

Do some comparison shopping before you hit the stores and pull out your wallet. Ask yourself if you can buy the same product at a lower price elsewhere. Not only will buying at a lower price save you money, but many retailers also offer the lowest price match.<\/p>\n\n\n\n

Most Canadian retailers have price-matching policies. For example, if you find a lower price for the same product, retailers may:<\/p>\n\n\n\n