Saving Money and Sticking to a Budget During Black Friday in Canada

To help you manage the trade off between saving using Black Friday deals and spending your hard earned cash, we’ve pulled together some of our team’s favourite tips for shopping wisely on Black Friday in Canada. 

What is Black Friday in Canada?  

In Canada, Black Friday happens on the Friday after US Thanksgiving each year. It’s an annual shopping and sales event that has become a major kick-off to the holiday shopping season. 

Retailers offer steep discounts both in-store and online, and many deals begin earlier in November as the tradition intensifies. In fact, even ‘Black Friday’ usually refers to a multi-day set of deals:  

• First, there’s Black Friday. This will take place on November 28 in 2025.  

• Then, there’s Small Business Saturday, which is designed to support small and local businesses in Canada. The day highlights the benefits of small businesses (like keeping money in the local economy, more personalized service, and a wider range of more unique products). Learn more about Small Business Saturday here.  

• Cyber Monday takes place the Monday after Black Friday, and is dedicated to online deals. If you’re shopping online, you might see even steeper discounts on Cyber Monday than you did on Black Friday.  

• Finally, some retailers also celebrate Green Monday with sales. This takes place on the second Monday in December – and despite its name, it is not a sustainability focused sale. Instead, it’s another sale date used by online retailers .  

The Risks of Shopping on Black Friday 

We aren’t psychologists, so we can’t speak to the why – but seeing items on sale just sparks something in a lot of us. Maybe it’s the combination of the dopamine hit from buying something with a feeling of ‘winning’ when you get a really good deal.  

For many newcomers, there’s a fine line between feeling like you’ve scored a great deal and overspending on consumer items. Overspending looks different for everyone, but it can make it harder to cover monthly bills—especially if you’re living paycheck to paycheck—or to reach your financial goals on time. And deep down, most of us would prefer a more comfortable retirement or the ability to buy a home, car, or vacation sooner rather than squeezing one more moisturizer or T-shirt into the cupboard. 

Plus, Black Friday deals have a very short ‘end date’ and a lot of marketing dollars spent on advertising the sales. So, if you spend any time anywhere that you see ads (so, almost everywhere online, on the tv, or outside), you’re likely being inundated with ads for the sales. You’re also possibly feeling the pressure that comes with the sale being over by the end of the day – or maybe that week for extended sales.  

At the end of the day, Black Friday’s biggest risk isn’t missing a deal—it’s how easily a moment of excitement can turn into financial strain or even unintended debt long after the sale ends. 

How to Hack Shopping on Black Friday in Canada 

Brainstorm a list of wants and needs in advance of the sales  

There are huge benefits that come with holding off on making any purchases. Impulse buys tend to be the things we regret later—not the items we planned for. Before the sales begin, write down the items you genuinely need or have been intending to buy for a while, and then separate them from the things you simply want. 

A list helps you pause, compare, and make mindful decisions instead of reacting to flashy “limited time” banners. It also becomes a sort of anchor: if something isn’t on your list, it’s easier to recognise that it may be more impulse than necessity. This small step alone can help you avoid spending money on something that would sit unused in a drawer by January. 

Remember, if you pay interest on sales items – you aren’t really saving money 

I personally find this one quite a powerful reminder of the benefits of having a budget for Black Friday. I hate paying interest on credit cards. So, I remind myself that if I overspend on Black Friday and end up paying high interest on my credit card, I won’t actually save money. Keeping this in mind makes it easier for me to spend within my means during the sales.  

Compare prices across multiple stores before you check out 

A Black Friday price isn’t always the best price. Retailers know that shoppers expect deals, so some increase prices in early November and then “discount” them during the sales. To protect yourself, compare the item across a few stores—especially Canadian retailers like Canadian Tire, Best Buy, Walmart, or The Bay, as well as online marketplaces. 

Price comparison takes an extra minute, but it ensures you’re getting a legitimate discount. You may even spot a better deal at a store that doesn’t advertise as aggressively as the big-name brands. 

Use browser tools or apps to track price history 

If you’re shopping online, consider using a browser extension or app that shows a product’s price history. Tools like Honey or CamelCamelCamel (for Amazon listings) help you see whether a deal is actually new or if the item has dipped to that price before. 

This takes a lot of the guesswork out of the “Buy now before it’s gone!” pressure. If the price has been lower previously—or is consistently discounted throughout the year—you can make a far more informed decision. 

Avoid signing up to every newsletter “just for the discount” 

Retailers know that a 10–20 percent off sign-up bonus is an easy hook, and your inbox can quickly become an overwhelming mix of countdowns and “BUY NOW!” messages. Instead of signing up everywhere, be selective. Choose one or two retailers that you genuinely plan to shop with. 

Reducing the number of marketing emails reduces the psychological pressure to buy something simply because you’re being shown it repeatedly. It’s easier to stick to your plan when your inbox isn’t working against you. 

Wait 24 hours before buying anything outside your planned list 

For anything that wasn’t on your original list, use a simple rule: wait 24 hours before buying. If the sale ends in that window, it’s usually not a deal that was meant for your budget anyway. But more often than not, the sale will still be running—or the same discount will reappear closer to the holidays. 

This short pause gives your brain the chance to shift from emotional buying to rational buying, which is usually all you need to avoid overspending on “just OK” deals. 

Don’t forget about return policies and warranty coverage 

It’s easy to get excited about a great price, but it’s worth checking the return policy before purchasing. Some retailers offer final-sale pricing on Black Friday, while others shorten their return windows during the holiday season. 

If you’re buying electronics or appliances, review the warranty as well. You don’t want to save $100 on a laptop only to find out it’s not eligible for standard coverage. Reading the fine print isn’t glamorous, but it does protect your wallet in the long run. 

Finally, don’t fear missing out – there are plenty of other sales still to come 

Black Friday advertising can often make us feel like if we don’t buy now, we’ll miss out forever. But the reality is that other sales are likely to come in the future. There’s still Cyber Monday, plus maybe Green Monday, and then we move onto the post-holiday season sales, like Boxing Day. 

Keeping this tip in mind can be really helpful if you find yourself feeling any fear of missing out.  

Quick Tips for Spending Wisely During Black Friday 

These quick tips can help you to spend wisely and not overspend on Black Friday:  

1. Buy a prepaid credit card specifically for Black Friday, so you can’t overspend, or consider using a debit card.  

1. Save up for a few months in advance of the sales. Then, you have some allocated cash to put towards items you want and need instead of going into debt.  

1. Check online secondhand marketplaces before buying. If you can get new or nearly new products for a bigger discount than what’s offered on Black Friday, it’s worth considering those savings.  

1. Make that list of things you need and want – and set a realistic budget for purchasing them.  

1. It can be a helpful mental trick to allocate an amount of money that something you want is ‘worth’ to you before you see the sale pricing too. This can help you decide if the sales price really offers value to your life or if it’s just clever marketing.  

Final Thoughts on Black Friday in Canada 

At its best, Black Friday can help you stretch your budget a little further at a time of year when expenses tend to pile up. But even on the biggest sales days of the year, the most meaningful savings come from staying grounded in your own financial priorities. When you know what you need, what you can afford, and what actually adds value to your life in Canada, it becomes much easier to ignore the noise. 

By planning ahead, avoiding impulse purchases, and keeping your long-term goals in view, you can take advantage of the discounts that genuinely serve you. Black Friday will come and go every year, but the habits you use to manage it can support you long after the sales are over. 

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