The previous post dealt with The First 5 Questions to Ask Yourself Before Buying Anything. Here we’ll primarily address what to do if you haven’t convinced yourself not to purchase a particular item, or you don’t know how to get it for free. Before you open your wallet, ask the following:

1. Can I borrow it?

With the exception of money, to the extent a friend, family member or neighbor is willing to loan you something that won’t result in the transmission of a contagious infection, then I’m all for it.

There are two big upsides to borrowing: 1) it usually doesn’t cost anything and 2) you don’t have to store the item when you’re done with. Personally, I have a tendency to destroy things, so I try to shy away from borrowing stuff that’s prone to breakage.

2. Should I rent it?

Depending on your lifestyle, there are certain items that are more cost effective and more convenient to rent. It’s hard to find a justifiable reason to blow a lot of money on something needed for a specific occasion. Sites like Zilok and Rent the Runway provide the perfect marketplaces for renting that pressure washer or party dress you’ll only use a time or two.

3. Can I exchange something I don’t want for it?

You probably got plenty of valuable junk laying around that you can give up in return for something useful. With websites like SwapTree, Swapstyle.com, U-Exchange, and BarterBee.com, you can make room for possessions you’ll likely use in return for some mess you’ll never use.

4. Can I buy it for less than full price?

We’ve already touched on how to save money by consuming a modest dosage of patience in The First 5 Questions to Ask Yourself Before Buying Anything. But let’s say you either can’t or aren’t willing to wait. Here are a few tactics you can apply to get the best deals along with websites that make saving money easier.

• Use a mobile coupon or coupon code*: RetailMeNot, Currentcodes.com, DealsPlus, Coupon Chief.

• Look for on-line cash back offers: FatWallet, Ebates, Coupon Cactus, Bing cashback.

• Hunt for bargains: The Bargainist, CheapStingyBargains.com, GottaDeal.com, DealCatcher.com

If all else fails, conduct a Twitter or Google search using the name of the product or retailer you’re looking for plus either or all of the three search terms: coupon code, discount code, or promo code.

5. Can I afford it?

Ah, this is one of my favorites. If you get to the point where you are shamefully willing to pay full price (I’ve been there) for a product or service, a “no” answer to this question should put the breaks on any spending.

Here’s the quick and dirty test to determine whether you can afford something or not. If you can’t pay cash for it (whatever it is), then it’s not within your means. I’ll leave you to read into that statement what you will.

*If you’re a smartphone user, don’t be afraid to flash the cashier a store coupon on your mobile device. A few days ago, I saved 15% by redeeming an unprinted Kohl’s coupon I found on RetailMeNot using my iPhone. And yes, I conducted the last minute on-line coupon search in the dressing room.

Are there any questions you ask yourself before making a purchase decision? What resources do you find helpful in answering any of the questions above?

I woke up around 9:45 this morning. By 10:30 AM, I was dressed and ready to brave the holiday crowds. Normally, I’d be out well before sunrise.

With the exception of clothes, everything I wanted could be purchased over the internet. So there was no need to cut my beauty rest short.  I’m glad I didn’t.

The mall wasn’t nearly as crowded as I thought it’d be. Some retailers open at midnight the day after Thanksgiving. So, perhaps eager Black Friday shoppers were gone home by the time I arrived.

Maybe it’s just me, but I wasn’t blown away by the discounts available in the brick and mortar stores. They weren’t terrible, but they also weren’t that great either. Every year, there’s that handful of retailers who won’t even bother marking down their merchandise. They just show up on Black Friday wearing the same old dirty drawers they had on the day before. They disgust me.

With that said, I still managed to find some decent bargains. Even though I’m afraid a hard core deal finder will point out massive amounts of savings I overlooked, I’ve posted the spoils of my Black Friday labor.

Overall I spent $352.45 (excluding taxes and rebates).

Abercrombie & Fitch

Abercrombie & Fitch - Regular Price $38.00, Sale Price $29.80, Discount 21%

Abercrombie & Fitch - Regular Price $38.00, Sale Price $29.80, Discount 21%

Abercrobie & Fitch - Regular Price $44.00, Sale Price $29.90, Discount 32%

Abercrombie & Fitch - Regular Price $79.50, Sale Price $47.70, Discount 40%

I received a $25 gift card for buying over $100 worth of merchandise. It’s a given I’ll have to supplement that gift card with cash in order to buy something worthwhile from Abercrombie & Fitch.

Or maybe I can just sell it on GiftCards.com or Plastic Jungle.

The Limited

The Limited - Regular Price $217.50, Sale Price $130.50, Discount 40%, Free Scarf. Awaiting 5% cash back rebate from Ebates.com

Everything in the entire store was 40% off. Not bad. But I felt I could do better online. Using my iPhone, I visited The Limited’s website to see if the same deal was available online.

Once I verified they offered free shipping, I headed over to RetailMeNot and found that additional coupon codes could be applied towards my internet purchase. What else was there to do but snap photos of the cute tops I’d just tried on for future reference, return them to the fitting room girl, and move on to the next retailer.

But wait. There’s more.

Before placing my order, I checked for rebate opportunities on Fat Wallet and Ebates. Both offered 5% cash back. 

SmartBargains

Hampton Forge Contempo Cutlery - Regular Price $59.99, Sale Price $37.79, Discount 37%. Awaiting 10% cash back from Ebates.

Although I think I could’ve bought these knives for about the same price on a non-busiest shopping day of the year, I still feel like I got a pretty good deal.

Amazon

Hamilton Beach Set 'N Forget Slow Cooker - Regular Price $59.99, Sale Price $49.99, Discount 17%

I searched high and low for some kind of discount or coupon code that could be used to reduce the price of this slow cooker. In a moment of desperation, I hunted down a 20% off Bed Bath & Beyond coupon to use towards an in-store purchase of the item. Then I realized I’d only save $10 plus I’d have to pay sales tax (that I shouldn’t avoid but would avoid by buying from Amazon) plus I’d have to leave my apartment again. That’s too much effort for too little benefit, so I went with Amazon.

Target

Sex and the City - Regular Price $44.97 Sale Price $26.97, Discount 40%

There was a time these DVDs retailed for $30 – $40 a season. Which explains why I was missing seasons one and two and the second half of season three. This was a total impulse purchase. I’m sure I won’t regret it.

All in all, Black Friday wasn’t a total bust.

Did you do any offline Black Friday shopping this year? Do you have any tips or strategies on maximizing savings between now and the holidays?