Shop smarter, not harder: Tips to make the most of your Labor Day shopping

Labor Day weekend marks the unofficial end of summer and the start of the fall shopping surge. Retailers often take advantage of this time to clear out summer stock and showcase new items, paving the way for significant sales and deals for shoppers.

During the Labor Day holiday weekend, 45% of consumers intend to shop in physical stores and another 38% plan to shop both in-store and online. Most shoppers (81%) will visit big-box stores over the holiday weekend, followed by online retailers, dollar or discount stores, grocery stores, home improvement stores, and drug stores.

Whatever you're shopping for, from groceries and clothing to tires, appliances, and furniture, expect deals, sales promotions, and expanded store hours to encourage you to buy over the Labor Day holiday weekend.

With all the buzz, it can be easy to overspend or make a purchase you regret later. Before you hit the stores or start browsing online, take some time to research and plan. Look for promotions, deals, and coupons that may be available for the items you're interested in purchasing. Many retailers will offer exclusive discounts on their websites or social media pages, so make sure to check those out as well.

Here are six tips to help make the most of Labor Day's big sales without blowing your budget.

1. Prioritize needs over wants

With so many tempting offers and promotions, distinguishing between essential and nonessential items is the first step. Are you shopping for groceries and back-to-school supplies or do you have a big-ticket item in mind, such as a new sofa or refrigerator? Focus your spending on what matters most to you right now. For example, you may want to prioritize shopping for new tires before the weather changes.

How do you separate needs from wants? Start by listing items you absolutely need. This could be anything from household essentials to a new car. Next, ask yourself which items on your list you can live without, at least for now. Finally, stick to your list when shopping and avoid the urge to add nonessential items to your cart.

By prioritizing your needs, you’ll make the most of your budget and avoid unnecessary purchases.

2. Set a budget before you shop

It’s easy to get carried away by all the attractive Labor Day shopping deals and end up spending more than you intended. Setting and sticking to a shopping budget will help you avoid overspending and keep your finances in check. Before you start shopping, decide how much you can afford to spend and allocate a specific amount to each item on your Labor Day shopping list.

Assess your financial situation. Determine how much money you can comfortably spend without affecting your other essential expenses. This will give you an idea of how much you can allocate to your Labor Day shopping.

Make a list. Once you’ve determined your budget, make a list of the items you plan to purchase and their estimated costs. This will help you stay on track when making purchases and avoid overspending.

Avoid impulse buying. It’s easy to get caught up in the excitement of a sale and make impulsive purchases that aren’t necessary or within your budget. Before making any unplanned purchases, think about whether it's something you really need or if it's just an impulse buy. If you find yourself tempted by impulse purchases or going over budget, consider bringing cash to spend or leaving the store to think about your purchase for a few hours. This will help prevent overspending and keep your budget in check. Apps like Mint and YNAB (You Need A Budget) can help you set and track your budget in real time.

3. Compare prices and deals

Don’t just settle for the first deal or promotion that catches your eye. Take some time to compare prices across different retailers before making a purchase. You may be surprised to find better deals or discounts elsewhere.

Online tools and websites, such as Google Shopping, PriceGrabber, Bizrate, and others, will compare prices from various stores for you, saving you the time and effort of visiting each store or website individually. Honey, Rakuten, and similar apps will help you find coupons and cashback offers while you shop online. With a few clicks, you can quickly find the best deals and offers for what you want.

Be sure to note details such as shipping or delivery costs or any additional fees, as these can significantly impact your overall price. Also, check for price-matching policies. If you see a lower price for the same item at a different store, some shops will match that price. This lets you shop where you feel comfortable while still getting a good deal. Make sure to read and understand the rules for these policies before you shop. By using these tips, you’ll be better prepared for Labor Day sales and can find the best deal for you and your budget.

4. Take advantage of Labor Day deals

Labor Day is famous for its sales and promotions, making it one of the best times of the year to shop. From home improvement items to clothing and electronics, there are plenty of opportunities to save big.

Where can you find the best Labor Day deals?

Online retailers: Many online stores, such as Amazon, offer exclusive Labor Day promotions. Check out prices for great savings.

Local stores: Don’t overlook your local retailers. Many local businesses participate in Labor Day sales events and offer competitive prices on furniture, appliances, tires, clothing, groceries, and more.

Big-box retailers: Walmart, Target, Best Buy, and other major retailers will likely offer deals and promotions, in-store and online.

Look for percentage-off sales on items you’ve been eyeing and bundle deals, where buying items together can save you more money than purchasing them individually. Ask about free shipping and other incentives retailers may offer during the holiday weekend. By doing your research and planning ahead, you can snag the best Labor Day deals and maximize your savings.

5. Avoid impulse buying

Impulse buying can be a major pitfall during Labor Day sales. While it’s tempting to grab everything that catches your eye, this can lead to financial strain and buyer’s remorse.

To avoid impulse buying:

Stick to your list: Refer to your prioritized list and only buy items that you’ve planned for.

Take a pause: If you’re tempted by an unplanned purchase, take a moment to think about it. Ask yourself if you really need it.

Set spending limits: Use cash or a prepaid card to limit how much you can spend. This will make it easier to stick to your budget.

Avoid shopping when emotional: Emotions can cloud your judgment. Try to shop when you’re calm and focused.

By being mindful of your purchases, you can avoid the pitfalls of impulse buying and keep your finances under control.

6. Empower your shopping with Snap Finance

Sometimes, even with the best planning, you might find that you aren't able to pay upfront for what you need. Snap Finance can help you take advantage of all the great Labor Day deals with installment loans or lease-to-own financing.

It's easy to apply for Snap.

1. Apply. Easily apply in minutes using text or QR code, in-store or online.
2. Get a decision. Receive a decision in seconds with no impact to your FICO® score.1
3. Shop. Use your approved amount to get what you need today.

Snap thinks outside the box – and your credit score – to determine your creditworthiness.1 Shop the stores you love with added purchasing power.

By using Snap Finance, you won’t have to miss out on limited time offers, even if you can’t pay for what you need upfront or don’t qualify for traditional financing.  

Striking the right balance

Labor Day weekend is a perfect time to celebrate the end of summer and take advantage of great deals. Make the most of the weekend’s deals and promotions while remembering the spending limits and budget you've put in place. Striking the right balance can help you get what you need while staying within your spending limits. Happy shopping!

About Snap Finance

Snap Finance harnesses the power of data to empower consumers of all credit types to get what they need. Launched in 2012, Snap’s technology brings together more than a decade of data, machine learning, and nontraditional risk variables to create a proprietary decisioning platform that looks at each customer through a more holistic, human lens. Snap’s flexible lease-to-own and loan solutions are changing the face and pace of consumer retail finance.

For more information, visit snapfinance.com.

Snap-branded product offering includes retail installment contracts, bank installment loans, and lease-to-own financing. Talk with your local Snap sales representative for more details on which product qualifies at your store location. For more detailed information, please visit snapfinance.com/legal/financing-options.

¹Not all applicants are approved. While no credit history is required, Snap obtains information from consumer reporting agencies in connection with submitted applications, and your score with those agencies may be affected.