Evergreen Credit Union Teaching Smart Saving Skills in Time for Black Friday

By Christine Goth and Emma Pierce

Black Friday has long signaled the official start of the holiday shopping rush, a day once synonymous with long lines, doorbuster deals, and the thrill of scoring steep discounts. But as the shopping landscape has shifted increasingly online, so has consumer behavior. In 2024, U.S. shoppers spent more than $10 billion during Black Friday alone, marking more than a 10% increase over previous years. With retailers promoting “can’t-miss deals” earlier and more aggressively than ever, consumers face a tougher challenge: deciding what’s truly a bargain and what’s just clever marketing.

This year, Evergreen Credit Union is stepping in to help. The Maine-based financial institution is offering community members expert guidance from certified financial counselors on how to navigate holiday shopping without wrecking their budgets or credit scores.

The Evergreen Financial Counseling team wants to empower shoppers during what has become the most financially overwhelming time of year. “People are spending more than ever because shopping has become so effortless, but convenience can make it harder to tell whether you're actually saving money. We want to give Mainers the tools to shop with confidence, not stress,” Explains Christine Goth, Member Experience Manager. 

The financial coaching team focuses on three main strategies to help consumers distinguish real savings from seasonal gimmicks:

Spotting Price Manipulation Before the “Sale”
One of the biggest traps during Black Friday season, Goth says, is the illusion of a deal. Retailers often raise prices in the weeks leading up to Black Friday, only to “slash” them later and present the discount as more dramatic than it really is.

“People assume the advertised discount is based on the normal price,” Goth says. “But legally, the ‘original’ price only has to have been offered for a very limited time. It may not reflect the item’s typical market value.”

To counter this, Evergreen’s coaches encourage shoppers to check historical pricing. Tools such as price-tracking websites and browser extensions show the ups and downs of an item’s cost over weeks or months, revealing whether the current discount is genuine.

“It’s simple once you know how to check,” Goth says. “It can save you from wasting money on fake deals designed to create urgency.”

Weighing the Risks: Buy Now, Pay Later and Store Credit Cards
Another major topic is the surge in financing options at checkout. From Buy Now, Pay Later options to retail store credit cards promising one-time discounts, consumers are routinely encouraged to open new accounts or delay payments, all during the busiest spending season of the year.

“These options are presented as conveniences,” Goth says. “Each comes with risks that are often downplayed or not disclosed clearly.”

Buy Now, Pay Later plans can lead to multiple overlapping payment schedules, late fees, or debt accumulation if shoppers aren’t tracking each installment. Store credit cards may offer a tempting 20–30% discount on a purchase, but many shoppers aren’t told that applying typically triggers a hard credit pull, something that can temporarily lower a credit score.

“A lot of people don’t realize that,” Goth adds. “You may save money at the register, but lose points on your credit score that could cost you much more down the road. We want people to ask themselves whether that short-term discount is really worth the long-term impact. We also want people to consider how many credit cards they really need open. Choose one that works for you that offers cash back rewards or travel points, and use that card to eliminate racking up too much debt that you may not be able to pay back.”

Building a Personalized Holiday Budget
The goal of shopping on the major discount day is to spend less, which often gets lost in the adrenaline rush of a “once in a lifetime” deal. Evergreen is helping the communities they serve build realistic, personalized spending plans that will help them prioritize purchases that will work for them and their bank accounts in the long run. 

“Budgets aren’t one-size-fits-all,” Goth says. “A good plan helps you enjoy what matters most. The holidays bring excitement and extra costs, so planning ahead lets you focus on the joy, not the stress.”
 
Some of the top tips for success include determining gift limits, anticipating hidden expenses, and building in buffers for last-minute purchases or emergencies. The goal isn’t to restrict joy, Goth emphasizes, but to empower it.

“When people shop with a plan, they don’t feel guilty or panicked in January when the bills come,” she says. “They enjoy the season more because they’re in control.”

For more details, check out Evergreen Credit Union Financial Education.

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