Let's be honest - we've taken a big knock in 2020, and we probably should not be too ambitious with our shopping for the rest of the year...

BUT the reality is that the rest of the year is still happening, and with it, all the events that come with the festive season. This includes seeing family, giving gifts, traveling, and spending time with those close to you.

The above being said, Black Friday 2020 can actually be a great way to make up for the personal finance

knock you took this year! It's hard to get the spirit of giving down, and November specials will be a great way to show you care without blowing your budget.

That's why we want to give you 3 unbelievable (short) tips to help you stay generous without crippling the rest of your emergency savings.

Tip 1 - How to be prepared so you can cut through the clutter of fake specials, silly products AND end up saving money

You've heard the saying, "Failing to plan is planning to fail," right? Well, no one ever said it doesn't count for buying special deals too!

Instead of just rushing into Black Friday, Cyber Monday, Thanksgiving, and all the other Christmas shopping days, it's a great idea to prepare your shopping lists for these days.

Action step: We suggest you take the time to start browsing the online shops of your favourite stores and then create lists with specific categories, links, and prices of the products you think are worth buying.

This achieves 2 powerful things.

1. You prevent yourself from buying on impulse when it's Black Friday and end up saving tons of money!
2. You know you are genuinely buying something at a special price because you saw the prices well in advance.

Before buying any product on sale, you should ask yourself why it is marked with a special discount and what its actual average retail price is. Often times products go on sale because they need to make space for newer versions, or the product has too many faults in its original design.

For example, anyone who has gone through a shopping craze on sites like OneDayOnly, has hopefully seen that the "special" price on there is often because the product is actually on sale somewhere else as well, or is being phased out.

Our bonus thought: there is always another special - don't be controlled by shopping FOMO.

Tip 2 - Don't get caught up in buyer's frenzy

The list you create in Tip 1 can be a powerful form of accountability so you don't get a case of the much-feared buyer's frenzy!

Remember, this is an incredibly important year to keep your savings as high as possible so that your emergency funds can support your basic family needs.

Nothing eats up your savings like a case of buyer's frenzy you feel you can justify on the day you are buying, buying, and buying!

Tip 3 - Keeping an eye out for holiday coupons and travel deals

2020 is a year like never before to make your holiday trips as budget-friendly as possible.

Black Friday and similar shopping days are not only aimed at retail products. There are tons of resorts, travel agencies, and service-orientated who will also offer specials.

You might have canceled your annual holiday trip this year, but the right travel deal can offer a weekend of budget-friendly luxury or adventure that sees the whole family mood uplifted!

Bonus Tip - Have you heard about Cyber Monday and every other day in November?

Remember our bonus thought above? There is literally always another special! It's a sales tactic that companies figured out ages ago, and they use it because it always makes money. Buyer's frenzy anyone?

The important thing to know here is that Black Friday 2020 is more than just a day. It is a whole month of shopping! There are well-known days like Cyber Monday 2020 and Black Friday 2020, but these two big days of shopping are far from making up the whole of November 2020.

Most shops will be running sales throughout the month. We have all had a hard 2020 so far, and this means companies will want to make use of November to get sales back up after a hard 2020 retail year. Once you have gone through the effort of setting up your lists and links in Tip 1, you are prepared for a whole month of budget shopping.

What's your next step?

Well, it's simple, really.

One...two... go and make a list!