Updated: Nov 17
Work with your spouse
Controlling money in a relationship, that is, structuring a plan for your money should be a partnership between spouses. When you control money with your spouse, you foster open communication, trust, and shared responsibility, creating a strong financial foundation. Through collaboration, both partners can align their spending habits, priorities, and budgeting, resulting in a unified approach.
1. Schedule a money date
Money dates are regularly scheduled times for spouses to discuss financial goals, values, and spending choices. Dedicate a money date in advance of Black Friday to holiday spending.
If Money Dates are a new concept to you, consider reading our previous post What is a Money Date?
2. Make a list
While on your money date, make a list of items or experiences you want to purchase for family, friends, or yourselves. Make the list in advance of seeing any Black Friday deals to avoid being lured into saving money on an item you don’t really want, because there is no greater savings than not spending at all.
Don’t assume “stuff” is what makes folks happiest. It’s usually not. These five rules backed by science can help you and your spouse decide what to buy for the holidays:
#1: Recipients LOVE sentimental gifts
#2: Buy experiences
#3: Meaningful notes
#4: Give time
#5: Make a list and check it twice
For more details, read our previous post 5 research-based gift ideas that will be a hit.
3. Create a budget—and stick to it.
This sounds simple, but Black Friday sales are designed in part to get you into a store or online in order to sell you stuff you didn't intend to buy. Do your best to resist impulse buying. Decide beforehand how much you intend to spend on your Black Friday shopping spree and make sure to set a limit.
4. Decide how you will pay
Credit cards can be the ideal payment tool if used correctly. They can be used to earn rewards and build your credit.
Credit cards can also be dangerous. Be sure to read How NOT to Use Credit Cards: Couples Edition if this could be an issue in your marriage. Debit cards or cash using the envelope method might work best.
If you're using credit cards this year, also be wary of store credit card interest-free offers. The cards are okay if you pay them off before the promotion ends. However, if you don't, you'll have to pay interest on the entire purchase, even if you've paid down a lot.
Divide and conquer
Managing money, simply seeing the plan through, doesn't have to be done by spouses. Some spouses enjoy the meticulousness of staying on top of the finances and have a natural skillset to do it well. For this Black Friday, dividing and conquering can be just fine.
5. Start early
Black Friday discounts aren't just for Black Friday weekend. There are deals on items in almost every category, and many retailers offer partial refunds for items that go on sale later.
Take for instance the massive sitewide sale on the Perry Ellis brand Cubavera site.
6. Skip the in-store sales and shop online
While many deals will be available in-person and online, you may have more luck and more options by shopping from your phone or computer. In recent years, we’ve seen retailers offer more of the same promotions online as they do in stores.
We’ve also seen more stores remaining closed on Thanksgiving, giving shoppers even more incentive to turn to their online counterparts to find deals during the holiday.
Bookmark the sitewide cyber Monday sale on the Perry Ellis brand Cubavera site
7. Use websites and apps
You should track prices leading up to Black Friday to determine how good the deals are. It's the same for Cyber Monday. But you don't have to shop by retailer to compare prices. Consider the following web based resources to comparison shop.
There are also browser extensions useful for saving money while comparison shopping.
Instore smartphone apps can be useful to save money. You can scan barcodes or QR codes to compare prices, get discounts, and score coupons.
Many websites post leaked and authorized Black Friday ads. Sign up for deal alerts, which can often be filtered by product category
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