How to prepare for Black Friday shopping deals

BIRMINGHAM, Ala. (WBRC) - Now that we are in the month of November, it might be a good idea to start planning your Black Friday shopping.

An expert is trying make sure we don’t end up empty handed, and to do that, we need a plan and a budget.

First things first, make sure you are getting items that you need. Decide what you are looking for - is it gifts, entertainment items, or decorations? You can even take it a step further and plan out your day. What items do you need to get in the morning, afternoon or evening, and decide if some of those can wait until Cyber Monday.

In terms of what is a good deal, big ticket items like major appliances might have 10 to 20 percent off. That’s considered a good deal, especially if it’s something that rarely goes on sale. For items such as clothing or household products, it can be considered an average or bad deal.

Dr. Stephanie Yates, Regions Institute for Financial Education Endowed Professor, said it would be useful to try to figure out what the normal price is for an item.

“So that when I see the sales I know if it’s really a deal, and I know if it’s better to wait, we all know whatever can’t be sold often times is going to go on sale right after the holidays,” Yates said.

Fifty percent or more can also be considered good deals, but often times we see those huge discounts on items that the retailer can’t sell, are overstocked, or discontinued, so make sure to do your research beforehand.

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