Best Ways to Navigate Black Friday at Costco Without Overspending

On Black Friday, retailers tend to pull out all the stops in an effort to lure in buyers. And Costco is no exception. As a member, you can expect to reap savings on a host of Black Friday deals, from jewelry to electronics to many things in between.

But one thing you don't want to do on Black Friday is rack up a credit card tab you can't afford to pay off in full. It's true that Costco tends to have competitive prices in general, and that the deals on Black Friday may be out of this world. But that doesn't mean you won't end up overspending. To avoid that fate, take these key steps.

1. Set a budget before you shop

Costco might slash electronics prices by hundreds of dollars on Black Friday. But if you can't afford those purchases, then you shouldn't be making them.

Before Black Friday, set a spending budget based on your current savings and incoming paycheck. If you have $400 in the bank you can use for Black Friday purchases, plus an upcoming $200 from your next paycheck that isn't earmarked for existing bills, then you have $600 to work with. And that could help you do a lot of shopping. 

But if $600 is your budget and you see a great deal on a TV for $700, don't buy it. It can be really hard to pass up a good bargain. But you don't want to negate your savings by carrying a credit card balance forward, thereby racking up interest every day.

2. Look at the deals ahead of time

Costco is releasing some of its Black Friday deals ahead of time. It pays to check the site as the big day gets closer to see if more bargains are leaked. 

But either way, use the information you have to do some research ahead of Black Friday. If there are big-ticket items you want, price them out across different retailers so you're able to make a more-informed decision. 

Some of Costco's Black Friday deals may be proprietary, such as jewelry. So it's hard to do an exact comparison. But as far as electronics are concerned, look at the model numbers being offered and see if you're able to find them elsewhere. 

3. Bring a Costco shopping partner along for accountability

If you have a history of overspending during events like Black Friday, then you may not want to shop alone this year. The good thing about Costco is that you're allowed to bring a guest along with you, even if they don't have their own membership. It could pay to enlist the help of a friend or neighbor who can help you keep your spending in check.

Of course, you'll need to share your spending budget with that accountability partner so they can help you keep tabs. But having that second person there could prevent you from making a big financial mistake. If you decide to drag a friend along, consider treating your accountability buddy to a low-cost treat at Costco's food court on your way out. 

Even if you shop at a retailer like Costco on Black Friday that's known for its competitive prices, you might still end up spending more than you want to. Take these steps to avoid that fate -- and the stress that might ensue afterward.