Black Friday and Cyber Monday: Are the Deals Really Worth It?

Black Friday has been a tradition for many people for years, and in 2005, Cyber Monday joined in on the holiday shopping fun. Meeting with friends before the sun is up or snuggling with your computer with your “buy” finger at the ready are events people look forward to every year.

The question is…are you really saving when you shop those holiday “deals”?

Are Black Friday Deals Really That Good?

Retailers do offer legitimate markdowns - especially on electronics, small appliances, and subscription services. So, if you’ve done your research, set price alerts, and know what “normal” pricing looks like, you can snag genuine deals that stretch your holiday budget.

However, not all deals are the “best ever.” While research has shown that there might be substantial discounts online for high-demand items like toys (like over 27% off some items in 2024), many prices are matched throughout the year or even earlier, especially as promotions now stretch across multiple weeks.​

The Pros: When Shopping Smart Pays Off

When approached with intention, Black Friday and Cyber Monday can actually work in your favor. Here are a few ways these shopping traditions can help your wallet.

Early access and convenience. Cyber Monday and extended “Black Friday Weeks” have turned the chaotic mall experience into an online sport. You can shop early, compare prices across stores, and avoid the last-minute stress of December shipping deadlines.

Rewards and cash-back bonuses. If you use a credit card that offers points or cash-back rewards - and you pay it off right away - you can earn a little extra while checking items off your list.

Stock up on practical items you’d buy anyway. It’s not all about gifts - many people use holiday sales to buy household essentials, office supplies, or next year’s winter gear at a discount. If you plan ahead, it’s a smart way to reduce next year’s expenses.

The Cons: When Saving Turns into Overspending

Of course, every “too good to be true” deal comes with a catch. Before you hit “add to cart,” keep these common pitfalls in mind so your savings don’t turn into overspending.

The “discount high.” Studies show that shoppers are more likely to overspend when they believe they’re getting a deal. That 40% off air fryer feels like a win - until you realize you didn’t plan to buy an air fryer in the first place.

Strategic “false discounts.” Retailers sometimes raise prices before the holidays only to mark them “down” later, creating an illusion of savings. Price-tracking can help you see whether a deal is truly worth it.

Budget creep. Even the most disciplined shoppers can fall into the “just one more gift” mindset. A few impulse buys here and there can quietly blow your budget before December even begins.

How to Stay Within Your Holiday Budget

1. Make a list - and a limit. Decide in advance who you’re buying for and how much you’ll spend per person. If you find a deal that saves you $30, that’s great, but don’t turn around and use that $30 on something else.

2. Use cash-back apps and browser extensions. If you’re shopping online, tools like Rakuten, Capital One Shopping, or Honey can help you save even more, without the chaos of the store.

3. Set a “cool-off” rule. Before checking out, give yourself an hour (or even a day) to think about whether you really need the item. If you still want it later, it’s probably worth it. If not, you just saved yourself some buyer’s remorse.

The Heart of It: It’s About More Than the Deals

Let’s be honest - Black Friday and Cyber Monday aren’t just about bargains - they’re about the experience: hunting for that elusive deal, bonding with friends or family, or simply kicking off the holiday season with a sense of tradition.

And there’s nothing wrong with that - as long as you keep perspective. The joy of the season doesn’t come from spending more; it comes from being intentional with what you buy and who you’re buying for.

So, whether you’re standing in line with your sister at sunrise or filling your online cart from the couch, keep your focus on what truly matters: giving thoughtfully, spending wisely, and keeping your financial goals intact.

If you’d like help setting spending goals that don’t derail your long-term plans, we’re here to help. Together, we can make a plan for your financial future that includes some guilt-free spending! CLICK HERE to make an appointment.