6 Black Friday Spending Traps to Avoid

2. Too good to be true

To get you into stores, retailers offer attractive deals during Black Friday. But not all of them are what they seem. If something sounds too good to be true, it often is.

“During the holiday season, many of those ‘50 percent off’ signs aren’t as generous as they appear,” Dvorkin says. “Retailers often hike up prices just before slashing them, making it look like a great deal when it’s really just a game of numbers.”

There’s also the bait-and-switch element of Black Friday deals. Sure, TVs are on sale, but there’s only a limited quantity. After that, you’re steered toward a higher-priced model. Sometimes consumers think they are getting a deep discount on the latest model, but it’s really last year’s or one of lesser quality. 

How to avoid it: Read the fine print on all Black Friday ads to make sure you’re getting the exact product you want. Comparison shop online before purchasing. A quick Google search will show how much the item costs at competing retailers. If it’s available nearby and the savings are significant, the extra trip may be worthwhile. 

3. Impulse buys at the ready

It’s hard to resist impulse buys, particularly during the holiday season. Long lines give you a lot of time to browse, and stores make it easy for you to purchase things you don’t need. “Retailers rely on crowds to create a sense of confusion with shoppers,” Bodge says. “They may do things like put pricey items up front, place them at eye level and put buzzy, colorful add-on things right near the register.” You didn’t need that gold wrapping paper before, but now you do. 

How to avoid it: Santa isn’t the only one who should have a list. Create a plan and a budget, and stick to them. Just because something is on sale or would be a nice additional gift doesn’t mean you need to purchase it.

4. Stores make it too easy to pay

Whether it’s buy now, pay later options or offers of 20 percent off for opening store credit cards, retailers make it easy to pay for your holiday hauls. They also make it easy for you to overspend by offering these deals quickly online and in stores. In some cases, they have sales reps roaming the floor with mobile tablets, opening credit cards for customers on the fly, Bodge says. The problem is that the bill will eventually come due, and if you don’t have the means to pay, you could end up in financial trouble.

How to avoid it: Store credit cards and buy now, pay later offers aren’t bad as long as you’re aware of the costs and terms associated with them, Bodge says. Store cards tend to have a high annual percentage rate (APR) if you carry a balance, and there are fees associated with buy now, pay later if you don’t pay your bill on time. ​

5. Stingy return policies

While many large retailers extend their return windows for the holiday season, some merchants enforce stricter policies that might end before you’ve even had a chance to give your gift. Charging for returns of online purchases has also become more common.

How to avoid it: Read return policies carefully before making your purchases. “Store return policies vary a lot, but they’re all posted on their websites,” says Kimberly Palmer, a spokesperson at personal website Nerdwallet.

6. Retail scams

This one is not executed by retailers but, rather, by scammers looking to take advantage of the uptick in online shopping around the holidays. Fraudsters use fake emails, text messages and social media ads to entice victims to click on links that either install malware on their devices or direct them to bogus websites designed to mimic those of actual retailers where they can capture the shopper’s credit card information.

How to avoid it: Rather than clicking on links sent by email or text message — no matter how convincing they appear — type the retailer’s website directly into your Web browser to take advantage of any potential deals. Palmer suggests using a credit card to pay for online purchases, since they come with stronger consumer fraud protections than debit cards.

AARP editor Daniel Bortz contributed to this report.