Amazon Prime Day is coming soon. This annual two-day event gives Prime members a chance to win amazing deals.
If you are an Amazon buyer, you might be eager to fill your cart with discounted products. But if you’re not careful, it can be easy to go over budget. Fortunately, there are steps you can take to avoid spending too much on Amazon Prime Day. Find out more.
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Prepare for Amazon Prime Day
Amazon Prime Day 2021 is scheduled for June 21 and 22. Although this holiday usually takes place in July, it does happen a bit earlier this year.
On Amazon Prime Day, you can find deep discounts on the best brands and products that you plan to buy all year round. It’s a great excuse to get those items you’ve wanted for a long time.
No matter where you shop, it’s important to stay on top of your personal financial goals. If you have a plan in place before you start your Prime Day purchases, you can avoid overspending and buying things you don’t need. After all, you don’t want to go into credit card debt because you’ve bought too much.
Ready to shop but nervous about buying more than you need? These four tips can help you avoid overspending and be more successful on Amazon Prime Day.
1. Make a list
Have you ever done your shopping without a list? When you do, it’s much easier to fill your cart with things you don’t need. This is also true when it comes to online shopping. That’s why it’s always a good idea to have a list ready.
Take the time to describe the items you want to purchase and write them down so you’re good to go. Then make sure you stick to your plan. Once you’re done shopping, exit your browser and get on with your day.
2. Stick to your budget
Just like making a list of the items you need before shopping, you also need to set a budget. Knowing how much you can afford to spend can help keep you on track. If you don’t set a budget, you risk spending a lot more than you originally planned.
If you use a credit card to shop on Amazon, you’ll need to think about how quickly you can pay it off before you incur credit card interest. Keeping this in mind will ensure that your budget really matches your financial situation.
3. Research products in advance
As you build your shopping list, it’s a good idea to research each product thoroughly. You may have a particular branded item in mind, but the company may have several similar models. Doing some research before Prime Day can give you the opportunity to learn more about each offer, so you know which item to buy. Proper research ahead of time will also save you time on Prime Day, so you don’t have to spend all day in front of the computer.
4. Make sure it’s a real deal
While some Prime Day items are a fantastic deal, other items on sale are not. The price listed might seem like a good discount, but you may be able to get the item for less from another retailer.
Around Prime Day, other popular online retailers are having discounts on some of the same products to compete with Amazon. For this reason, you may be able to find a better price. Just look around to make sure you are getting the best deal. And check similar items from different brands because a competitor may offer a better price for a product with the same characteristics.
Make sure to maximize your rewards
These tips can help you avoid overspending and find the items you really need. Another idea is to use a reward credit card when shopping on Amazon Prime Day. You can earn valuable rewards on your spending and redeem those rewards for cash back, gift cards, or vacations in the future.
As mentioned earlier, make sure you only charge what you can afford to pay quickly. Otherwise, you might have to pay expensive interest charges, which can cause your Amazon Prime deals to go out of business. For more information, check out these personal finance resources to help you take charge of your money and avoid going into debt.