Should You Start Your Holiday Shopping in October — Or Wait for Black Friday?

At this point, a lot of us are busy finalizing our Halloween costumes and stocking up on candy to hand out to trick-or-treaters. If the winter holidays aren’t yet on your radar, that’s understandable.

It’s common for people to hold off on holiday shopping until events like Black Friday arrive. And waiting until late November to begin shopping for the holidays isn’t necessarily a poor decision. But here’s why you may want to get started sooner — as early as late October, in fact.

1. You don’t want to miss out on great deals

It’s a big myth that you’ll find the best prices during big events like Black Friday. In reality, retailers discount their products all the time. And it’s common for retailers to run sales ahead of Black Friday to drum up business earlier on in the season.

In the past, for example, Costco has been known to release pre-Black Friday specials in the weeks leading up to the big event. And other big retailers commonly do the same.

If you have a list of holiday purchases you know you want to make, start shopping around now. You may find bargains you weren’t expecting.

At the same time, though, make sure you’re using a credit card that offers great rewards so you can pocket some cash in the process. Click here for a list of the best cash back credit cards.

2. You don’t want your top buys to sell out

If you wait until Black Friday to do your holiday shopping, you risk having the more popular items on your list sell out. If you know there’s a certain toy your child really wants or a gadget your spouse is jonesing for, you might pay a little bit extra to buy it this month instead of waiting for it to go on sale. But if you can afford the higher price, it may be worth it to forgo the $10 or $15 in savings if it means snagging the one item your loved one truly wants.

And remember — those doorbuster deals you commonly see on Black Friday are very limited in quantity. So be honest with yourself. If you’re not going to get up at the crack of dawn to wait in a line to grab those deals, then you might as well try to scoop them up now, while they’re in stock.

3. You don’t want to make the process more stressful than it needs to be

Holiday shopping can be stressful, between finding the time and coping with the expense. If you get started this month, you’ll have more time to tackle your list and research deals, thereby reducing your stress.

Plus, starting your shopping now might lower your financial stress. Say a few items on your shopping list end up being more expensive than planned. If you start shopping now and realize that, you’ll have time to pick up some work on the side to make up for your increased holiday budget.

If you wait until late November to first start shopping and realize you can’t afford your list as easily as you thought, you’ll have fewer options. And at that point, you risk falling into the trap of holiday debt — which will make those gifts cost even more when you add interest charges.

It’s normal to put off holiday shopping until Black Friday. And there is something to be said for enjoying the latter part of October before worrying about the winter holidays. But you may find that starting your holiday shopping in the coming week benefits you in more ways than one.