Amazon kicks off the holiday shopping season with Prime Big Deal Days on October 8th and 9th – one of the biggest shopping events of the year. With exclusive deals for Prime members, it’s a great time to save big on the items you’ve been eyeing. But with so many deals, how do you make sure you get the most value without blowing your budget on impulse buys?
Here are five tips to help you shop smart and maximize your savings:
Start with a Wishlist
It’s easy to get caught up in the excitement and end up buying items you don’t really need. To stay focused, start by creating a wishlist of products you’ve were thinking about before the sale began. This will help prioritize the deals that matter most to you.
Set a Budget and Stick to It
Prime Day deals can tempt you to overspend, but it’s important to set a clear budget before you start shopping. Decide how much you are willing to spend and stick to it. Prioritize essential or big-ticket items that you’ve been planning to buy and avoid splurging on unnecessary purchases just because they’re marked down.
Compare Prices
While Amazon deals can be great, don’t assume they’re always the best. Many other retailers, like Walmart, Target, and Best Buy, often run competitive sales around Prime Day. Take a moment to compare prices across different sites to ensure you’re getting the best deal possible.
Understand Which Product Types Offer the Best Deals
While there will be a wide range of discounts across multiple categories on Prime Day, there are certain items that usually offer the steepest discounts. Here’s where you can usually find the biggest savings:
- Amazon-owned products: Prices are often marked down between 40% and 60%. Look for deals on Echo speakers, Ring doorbells, Blink smart home devices and Amazon Essential items.
- Kids Toys and Gift Cards: If you have ever waited until December to shop for that must-have toy on your kid’s Christmas list, you know that those items have a tendency to sell out during the holiday season. Get ahead of the rush by shopping for these items early. Additionally, look out for discounts on gift cards, which is basically like adding free money to your wallet!
Don’t Feel Pressured to Buy Everything Today
Remember, Black Friday and Cyber Monday are just around the corner and give you another opportunity to save big on a number of items. If you don’t see the exact deal you’re hoping for, it might be worth waiting. The deals may even be better for particular products during those events, such as TV’s, laptops, headphones, large kitchen appliances and vacuums. There’s plenty more time to score savings before the holidays.
Conclusion
Prime Big Deal Days are a great opportunity to save, especially on Amazon devices, tech gadgets, home appliances, toys, fashion, and more. By planning ahead and focusing on high-value items, you can stretch your holiday budget and reduce shopping stress. Use these deals wisely and continue to spread out your purchases over the next few months to ease the financial pressure and enjoy the holiday season without breaking the bank.
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Cory Reamer,
is an Advisor at The Welch Group, LLC, specializing in providing Fee-Only investment management and financial advice to families throughout the United States. Cory graduated as a student-athlete with a degree in Finance from The University of Alabama and is passionate about helping others on their financial journey. For more information, visit The Welch Group. Consult your financial advisor before acting on comments in this article.
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