Smart Strategies for Black Friday Shopping

Black Friday is fast approaching, and many retailers are gearing up for big sales. Black Friday promotions are an excellent opportunity to snag deals on gifts, household essentials, and even big-ticket items that may not be as affordable throughout the year. With all the great deals, getting caught up in the excitement and blowing your budget can be easy. Heading into the holiday shopping season with a solid plan can alleviate stress and potential financial strain. How can you maximize Black Friday sales without overextending your budget? Read on!

Set a Black Friday Budget and Stick to It

Start by setting a realistic spending budget that aligns with your financial goals and available funds. Planning ahead for how much you’re willing to spend can help you avoid impulse purchases, which can quickly add up. Use your Mobile Banking or budgeting apps to track your spending in real time.

Tap into Holiday Loans

Maine Family Federal Credit Union offers low-interest Holiday Loans for members needing extra holiday help. These loans can be a safer, more affordable alternative to high-interest credit cards. You can fill out an application online or stop by one of our locations to speak to a lending specialist about our Holiday Loan special.

Use a Low-Interest Credit Card for Bigger Purchases

If you plan to make larger purchases on Black Friday, consider using a low-interest credit card from Maine Family. With competitive rates, our credit card is more budget-friendly than traditional credit cards – especially cards offered by retailers, which charge an average of 30.45% APR. As a Maine Family FCU credit card holder, you can earn 1 point for every dollar spent in the ScoreCard® Rewards Program.

Consider a Holiday Savings Account

It may be too late to fully fund a holiday account for this year, but think about setting one up for next year’s holiday shopping. Club accounts allow you to set aside money for occasions like Christmas gifts. By making small, regular contributions throughout the year, you’ll have a dedicated fund ready when shopping season arrives.

Redeem Your Rewards and Perks

If you’re a rewards cardholder, Black Friday is an excellent time to cash in on your accumulated points or rewards. Check your balance and use rewards or cashback to offset the cost of purchases. Purchases with your Maine Family FCU Visa card earn points through the ScoreCard® rewards program, where you can redeem your points for merchandise, travel, hotel stays, gift cards, and more. 

Thoughtful planning (and a little help from your credit union) can make your Black Friday shopping experience more enjoyable—and less stressful on your wallet. Remember, the team at Maine Family FCU is here to help you shop confidently and stick to your budget!