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7 Tips For Shopping and Saving On Cyber Monday

November 27, 2011 · 16 comments

in Misc Tips, Personal Finance

Cyber Monday has become quite a big event!  Having a cyber-saving-spree does make sense now that I think about it because internet retailers can’t really ‘open their doors’ early to let customers in to buy the super-cheap laptop that is on sale at a rock-bottom price (even if the the store only has 2 available in stock).  Designating a day for internet savings is a great idea so that Amazon and other internet retailers can have their sales and people can shop from the comfort of their cubes at work.  (I wonder how much work productivity is lost in work in offices across the world on Cyber Monday?)

For some retailers, the name ‘Cyber Monday’ is actually a misnomer.  For example, Amazon started their deals on Sunday, and savings are supposed to last all week long, with new sales appearing throughout each day.  Imagine how addicting these types of deals must be for those who truly love to shop.  I imagine these folks hitting ‘refresh’ on their computer all day, every day, and having the time of their lives!

Tips For Cyber Monday Shopping:

Cyber Monday can definitely be a money saving event.  However, keep the following in mind to optimize your savings:

  1. Have a list in hand!  Just as if you were going to the grocery store, you should have a list of what you want to buy and stick to it!  Do not allow yourself to be tempted to purchase items that you really don’t need.
  2. Try to get free shipping.  Plan ahead so you can bundle what you buy.  Many online retailers have free shipping if you spend over a certain amount.  If you do your spending at once, you may order enough to take advantage of the shipping deals.   Whatever you do, don’t ‘spend just to spend’, just so you can get free shipping.
  3. Take advantage of promotion codes.  Not all retailers have promotion codes, but it is surprising how many do.  Doesn’t hurt to take a quick look on the internet.  (Any time their is a box asking for a promo code, make sure you do an internet search to find one.)  Since time may be of the essence for some deals, it is a good idea to search for these promotion codes before you start shopping so you don’t waste any time and can get to the checkout quickly.
  4. Look through the Entertainment Book.  Although most coupons in the Entertainment Book expire November 1st, the deals in section ‘G’ mostly last until December 31st.  Many of the specials for stores like Bed Bath and Beyond are based on a coupon code specified in the Entertainment Book.  Other deals, for stores such as Dick’s Sporting Goods, are valid on a special section of their internet site.  So, instead of throwing out your Entertainment Book at the beginning of the November, hang on to it through the end of the year to take advantage of this section of deals.
  5. Charge it!  Pay for your online orders with a credit card as opposed to a debit card.  That way, if you don’t receive your items or are a victim of fraud, you can dispute the charge and be reimbursed.
  6. Be safe.  Cyber Monday is a great opportunity for shady retailers to take advantage of consumers.  Think twice about shopping with a little-known retailer.  Also, for increased security, do all your shopping from a secure connection as opposed to a public area, and make sure the computer has proper security and firewall protection.   Hang on to all your receipts and read the fine print on all transactions too.
  7. Make sure you are really getting a deal.  Just because an item is ‘on sale’ does not mean it is being offered at a great price. Double check prices at other stores before proceeding to the checkout.
Good luck to all you shoppers, and let me know if you have any additional tips or if you were able to take advantage of any really great deals!

 

 

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{ 16 comments… read them below or add one }

krantcents November 27, 2011 at 8:38 pm

Good tips! When I shop online, I usually use shopping bots to find the lowest prices, free shipping and promotion codes. If I cannot get enough of a discount versus going to the store, I won’t buy it. It is all about value!

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Kris November 27, 2011 at 9:20 pm

Hi KC! Do you have a favorite shopping bot? Bizrate?

I will buy online if it is the same price or cheaper than at the store. I do a lot of my Christmas shopping online just because leaving the gifts in the boxes makes ‘hiding’ the gifts much easier.

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Financial Samurai November 27, 2011 at 10:23 pm

I plan to buy $0 worth of stuff! WHOO HOO!

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Kris November 28, 2011 at 8:13 am

So I guess you aren’t going to be sending me anything for Christmas? 🙂

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MoneyCone November 28, 2011 at 10:29 am

Good tips Kris. Some credit cards offer 5-20% cash back if you shop via the link they provide. I know Discover does. Good time to make use of these savings.

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Money Reasons November 28, 2011 at 12:06 pm

Great tips and thoughts 🙂

I probably one of the few that hasn’t shopped on Cyber-Monday. But I’m going to look today!

Thanks for the great guideline 🙂

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Kris November 28, 2011 at 4:05 pm

I am going to look a little later, time just flew today. I looked on Amazon last night and there were indeed some great deals on a bunch of stuff I was not interested in…

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Roshawn @ Watson Inc November 28, 2011 at 12:06 pm

I like the way you reworded it to Cyber Savings. I like Cyber Monday and am glad that it extends beyond just Monday. The free shipping and staying on task with a list are good points to maintain spending control. People sometimes forget just how easy it is to splurge online, even though they are not physically in the stores. Just like supermarket space is designed to get you to overspend, so are e-commerce sites.

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Kris November 28, 2011 at 4:04 pm

I really wasn’t that aware of a ‘cyber’ day until this year. I must have been living under a rock before and didn’t know it.

I am sure many people spent a lot of money on things they didn’t need today (and will the rest of the season). I may see if I can find some good gifts tonight though. 🙂

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Jenna, Adaptu Community Manager November 28, 2011 at 5:25 pm

We’ve got a great article on Where to Shop on Cyber Monday: https://www.adaptu.com/community/money-management/blog/2011/11/22/where-to-shop-on-cyber-monday
Check it out!

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Kaycee November 28, 2011 at 9:10 pm

If I have to listen to one more out-of-touch tv reporter chuckle about the “so-called” soft economy in regards to the large(r) Black Friday sales (and I am sure, Cyber Monday sales) I am going to vomit.

Attention dumbholes, the reason for the large(r) Black Friday sales IS the soft economy. @@ More people than ever before felt the need to get a jump on their holiday shopping by partaking in Black Friday and/or Cyber Monday. DOH!! @@

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Barb Friedberg November 28, 2011 at 11:50 pm

I’m almost done with my holiday shopping. No cyber Monday for me today.

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Kris November 29, 2011 at 8:51 am

Congratulations Barb! I have to get moving that is for sure. I can’t decide if shopping is easier or harder now that my kids are older. At least I don’t have to hide giant plastic things everywhere like I did when they were younger.

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Financial Independence November 29, 2011 at 3:55 am

I looked and followed Financial Samurai’s example – I spent 0 dollars and 0 cents.
There is no other way to financial independence but to spend less than you earn : -)

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Kris November 29, 2011 at 8:50 am

I spent zero myself.

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NorthenLoans January 30, 2013 at 3:46 am

The best deal for cyber Monday and holiday shopping is to stay home and save. My families taxes are going up January first and our health insurance is tripling. We are getting back to basics and saving for whatever disaster is coming and it is coming. Cyber Monday works for me since I can’t stand shopping. In my family we get small gifts for the kids to open. Other than that, we pool our funds that we would normally spend on gifts and choose a charity to give it to that would benefit far more than any one of us.

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