Black Friday & Giving Tuesday: Balancing Generosity and Smart Spending

You've had your eye on something for a while, and Black Friday finally brings the price down. It's a purchase you've been planning, and the discount makes it a good time to buy.

Then you see another deal, and then another, and before long, your shopping cart has a few things you weren't planning to purchase at all.

A few days later, Giving Tuesday arrives, and you're reminded of the local organizations and causes you'd like to support before the year ends.

Both occasions offer opportunities to put your money toward things that matter to you. The important part is knowing what you can comfortably spend or give before you start.

Whether you're shopping for holiday gifts, making a larger purchase, or planning a charitable donation, a few practical decisions can help you make the most of your money.

Here are some Black Friday budgeting tips, along with ways to protect your financial information and give back responsibly this holiday season.

Smart Black Friday Shopping Tips

Black Friday can be a good opportunity to save on purchases you've already planned to make.

However, a discounted price doesn't automatically make something a good financial decision.

The best place to start is with your shopping list and your budget, not the advertisements.

Set a Spending Limit Before You Shop

Before looking at Black Friday deals, decide how much you can comfortably spend.

Start with the money you've already set aside for holiday purchases or other planned expenses. Make sure your regular bills, savings contributions, and upcoming financial obligations are accounted for first.

Then create a list of what you actually need or intend to purchase.

For example, if you've budgeted $500 for Black Friday shopping, you might divide it this way:

Your numbers may look completely different, but having a plan gives you something to compare each purchase against.

If you find a great deal on an item that wasn't on your list, ask whether it still fits within your overall budget.

Also remember that using a credit card doesn't increase the amount you can afford to spend. If you plan to charge purchases, consider how you'll repay the balance before making them.

Comparing Details Without Falling For Fake Discounts

Retailers often advertise large percentage discounts during Black Friday, but the advertised savings don't always tell you whether you're getting a good price.

Before purchasing, compare the current sales price with what the item typically costs.

If possible, check prices at more than one retailer. You can also look at previous prices to see whether the discount represents a meaningful savings.

Pay attention to the details, too.

A product advertised at a lower price may be a different model, size, or version than the one you originally wanted. Shipping charges, delivery fees, and return policies can also affect the final cost.

Consider this example:

A television is advertised as 40% off its listed price of $800, bringing the sale price to $480.

That sounds like a significant discount. Yet, if comparable retailers regularly sell the same model for around $500, the actual savings are much smaller than the advertisement suggests.

The number that matters most isn't how much the retailer says you're saving. It's how much you're spending.

Protect Your Card During High Traffic Shopping Days

Black Friday shopping often means more transactions than usual, whether you're making purchases online or visiting stores.

It's also a time when fraudulent advertisements, unfamiliar websites, and suspicious payment requests can be easier to overlook in the rush to find a deal.

Taking a few extra seconds to check where you're shopping and how you're paying can help protect your financial information.

Spotting Skimmers and Fake Checkout Pages

If you're shopping in person, pay attention to card readers at checkout counters, gas pumps, and ATMs.

Card skimming devices can be attached to legitimate payment terminals to capture card information.

Before using a reader, look for anything unusual, such as a loose attachment, damaged equipment, or a device that appears different from nearby terminals.

If something doesn't look right, use another payment terminal or notify the business.

When shopping online, fraudulent websites can be designed to look like familiar retailers. Some may even use logos, product photos, and checkout pages that closely resemble legitimate businesses.

Before entering payment information:

• Check the website address carefully for misspellings or unusual changes.

• Visit the retailer's website directly instead of following an unfamiliar advertisement or message.

• Review the store's contact information and return policy.

• Be cautious if a website only accepts unusual payment methods or asks you to send money directly to an individual.

A website displaying a padlock symbol or using HTTPS has an encrypted connection, but that alone doesn't prove the seller is legitimate.

If you're unsure about a retailer, it's worth checking before making a purchase.

Turning On Purchase Alerts for Your Debit/Credit Cards

When you're making several purchases in a short period, it can be harder to recognize an unfamiliar transaction.

Account and card alerts, when available, can help you stay informed about activity that needs your attention.

First Western Bank customers can use online and mobile banking to review account balances and recent transactions. Depending on your account and card features, available alerts may provide another way to monitor activity.

It's also helpful to keep receipts or order confirmations so you can compare purchases against your account activity.

If you notice a transaction you don't recognize, contact your bank or card issuer promptly rather than waiting for your next statement.

What is Giving Tuesday?

After several days focused on holiday shopping, Giving Tuesday offers an opportunity to think about another way to use your money: supporting organizations and causes that matter to you.

Giving Tuesday is a global generosity movement that encourages individuals, families, businesses, and communities to give back.

It takes place on the Tuesday following Thanksgiving, after Black Friday and Cyber Monday.

How Giving Tuesday Started

Giving Tuesday began in 2012 as an effort to encourage generosity during the holiday season.

What started as a day focused on charitable giving has grown into a broader movement supporting donations, volunteer work, community involvement, and other acts of generosity.

Today, many nonprofits and community organizations use Giving Tuesday to raise awareness, connect with supporters, and fund programs that serve people throughout the year.

How To Participate

There isn't one right way to take part in Giving Tuesday.

You might make a donation to a local nonprofit, volunteer with a community organization, contribute supplies to a food pantry, or support a cause you've been involved with for years.

If you'd like to donate money, start by deciding what amount fits comfortably within your budget.

For example, if you have $100 available for charitable giving, you might choose to support one organization with the full amount or divide it among several causes.

You don't need to make a large donation for your contribution to be meaningful.

However, if a financial contribution isn't possible this year, there are other ways to participate.

How to Give Back Responsibly

Generosity and responsible financial planning can work together.

The same approach you use for holiday shopping can also help with charitable giving: know what you can afford, understand where your money is going, and make decisions based on what matters to you.

Vetting a Charity Before You Donate

Giving Tuesday often brings an increase in fundraising emails, social media posts, and donation requests.

Many are legitimate, but scammers may also create fake charities or impersonate established organizations to collect money.

Before donating to an organization you're unfamiliar with, take a few minutes to verify it.

Start by visiting the charity's official website and look for information about its mission, programs, and how donations are used.

You can also research organizations through resources such as Charity Navigator or the IRS Tax Exempt Organization Search.

If you receive an unexpected donation request by text, email, or social media, avoid clicking the payment link until you've independently confirmed the organization.

Be especially cautious if someone pressures you to donate immediately or insists on payment through gift cards, cryptocurrency, or an unfamiliar payment service.

If you plan to claim a charitable contribution on your taxes, remember that not every donation qualifies for a deduction. Eligibility depends on the organization, your tax circumstances, and applicable IRS rules.

Giving Time, Goods, or Money (Not Just Cash)

Financial donations can be valuable, but they're not the only way to support your community.

Many organizations also need volunteers, supplies, and help with everyday operations.

Depending on the needs of the organization, you might:

• Volunteer at a local food pantry or community event.

• Donate clothing, blankets, or household items in good condition.

• Purchase requested supplies for a school or nonprofit.

• Help organize a donation drive at work or in your neighborhood.

• Offer professional skills or services to an organization that needs them.

Before donating physical items, check with the organization about what it currently accepts. Giving something that's genuinely needed is often more helpful than dropping off items it may not have the space or resources to use.

If you'd like to make charitable giving a regular part of your finances, you can also consider setting aside a small amount each month.

For example, saving $10 per month would give you $120 to donate over the course of a year, without having to find the entire amount during the holiday season.

Make Room for What Matters This Holiday Season

Black Friday and Giving Tuesday may focus on different things, but both are opportunities to think carefully about how you use your money.

A good deal is only useful if the purchase fits your needs and budget, and giving back should be something you can do comfortably, without putting your own financial obligations at risk.

As you plan for the season, take a few minutes to review your available funds, upcoming expenses, and the purchases or contributions you'd like to make.

First Western Bank's Financial Center, available through online and mobile banking, can help you review spending, organize expenses into categories, and set budgets as you make those decisions.

Whether you're shopping for the holidays, supporting a local organization, or planning ahead for next year, knowing where your money is going can help you make informed choices.