Black Friday can be a bargain-hunter’s dream, but it's not something you should just dive into without any advance preparation! 

Here are a few things you should know about this annual, epic shopping day before you get up at 5 a.m. the day after Thanksgiving.

Black Friday does have some impressive sales and it can be a great way to get gifts for your loved ones at a reduced price. (Let's be honest: You might find some gifts for yourself, too.)

But there are some disadvantages to shopping on Black Friday, and knowing these things can help you make financially smart decisions:

Prices may not be at their lowest. With all the hype, Black Friday prices are not necessarily the lowest price an item might see this season. For example, a lot of children’s toys will see deeper discounts 10 days before Christmas.

Doorbusters may be overrated. The heavily advertised doorbusters at big stores are usually offered in very limited quantities, so unless you’re there very early, you might miss out.

It’s no longer the biggest shopping day of the year. Many stores run Black Friday weeks before Thanksgiving, and they continue through Cyber Monday (the Monday after Thanksgiving weekend). This means Friday isn’t the only time you can score these deals.

So, how do you ensure you're getting a real deal? Take these steps!

Do your research: Many stores release Black Friday ads ahead of time. It allows you to preview upcoming deals and compare prices across different retailers to make a plan for your buying spree.

Make a budget and stick to it: With all the tempting offers during Black Friday, it’s easy to overspend. That’s why it’s so important to set a budget before you start shopping. Decide how much you’re willing to spend overall and allocate amounts for specific items.

Get following: If you aren’t already doing it, follow your favorite retailers on social media. Sign up for email and text alerts, too. You’ll be the first to know about their upcoming sales and deals. You may also want to join their loyalty programs for exclusive early access to Black Friday sales.

Look for discount codes: Don’t settle for the marked-down Black Friday prices. Look for discounts that can bring the price down even further on sites like Vouchercodes and MyVoucherCodes. You’ll find discounts for designer retailers, restaurants and experience days.

Use apps and websites for price comparisons: During Black Friday, it’s important to compare prices from different retailers to make sure you’re really getting the best deal. Lucky for you, there’s an app for that! Tools like Google Shopping, PriceGrabber and ShopSavvy let you scan barcodes or search for products to see how prices stack up at various stores.

Check an item’s pricing history: Don’t just assume every price you encounter on Black Friday is actually being sold at a great discount. Check the price history of any product on price-checking websites like Keepa, Honey and CamelCamelCamel to see the item’s original price and whether it’s really being sold at a significant discount.

Stack coupons: Some retailers let you combine multiple coupons or promotions on top of their Black Friday discounts, which can lead to steep savings.

Focus on big-ticket items: Black Friday is often the best time to buy big-ticket items like electronics, appliances and furniture. Retailers tend to offer their biggest discounts on high-value products during this time, which means it’s your chance to save hundreds of dollars on a new TV, laptop or large kitchen appliance.

Make your holiday shopping even more rewarding: Here’s an extra reason to shop with your CommonWealth One debit card this season — every purchase you make between November 15-30 automatically enters you into our 80th Anniversary Celebration drawing! One lucky member will have their qualifying purchases reimbursed up to $800.* Whether you’re buying gifts, groceries, or treating yourself to something special, each swipe of your debit card could turn into a wonderful holiday surprise. No registration needed — just shop as usual with your CommonWealth One debit card during the promotional period.

Happy shopping season! We hope you find all that you wanted and more — and that you spend quality time making positive memories with your loved ones this season.

Learn More: Create a Holiday Budget