It's official, recession or not, Americans are going to be out in full force shopping and spending on Black Friday, the day after Thanksgiving. If you're one of the 74 million consumers expected to open your wallet for the official start of the holiday gift-buying season, follow these tips to score the best Black Friday deals–and to avoid several financial pitfalls lurking on Black Friday. HOW TO FIND THE LOWEST PRICES First, here are a few pointers on how to get the best bargains, no matter what you're buying. Tip #1: Let Technology Be Your Guide You could run yourself ragged driving all over town trying to find the best deals come Black Friday. Or, you could take the safer and saner route and let technology save you a lot of time, trouble and money. Two of the best ways to use technology for holiday shopping are: 1) Sign up for deal websites that blast promos, new ads and special offers. Two good picks are Dealnews.com and 2011BlackFridayAds.com. Simply supply your email and these sites will tell you about new deals as retailers announce them. 2) Download various shopping apps to your mobile phone. This way, if you're already out at a store, you can find any special deals, coupons or other bargains you might not have discovered on your own. Many retailers now offer their own apps, so check your favorite stores. But some of the best all-purpose, holiday-shopping apps come compliments of TheFind, Coupon Sherpa and FatWallet. Tip #2: Ask For a Price Match Have you been scouring Websites, tracking local circulars and advertisements or visiting stores in search of the best prices on clothing, holiday toys or electronics? Well, if you see something you want at one store but you're shopping in a different establishment, always ask the manager or even a store clerk if they'll match a lower price you've found elsewhere. In many cases, you have to provide proof of a cheaper price, in the form of a published ad. But if you do show that a competitor is offering the same goods at a lower price that will almost certainly net you a price match from most merchants on Black Friday. Tip #3: Don't Be Afraid to Negotiate For some reason, when consumers see a price listed in black in white, they automatically accept that price as "gospel.†But there's nothing that prevents you from asking for an even lower price. Believe it or not, many retailers are eager to do deals and move inventory on Black Friday, so they'll take 5% or even 10% extra off the lowest listed price based on any number of factors. The most common things that will get you an even lower price are: if you offer to pay in cash, instead of credit; if you're buying in bulk or are buying more than one item (especially high-priced goods); or if you're interested in getting any merchandise that's slightly damaged, irregular, or is part of a retailer's floor model. Tip #4: Use Those Coupons There's no shame in shopping with coupons, especially if you're buying expensive merchandise. So when you walk into a retail store, always ask if they have a coupon book, or a circular that highlights goods on sale or merchandise for which you might use a coupon. If you're somewhere that is offering a coupon and you don't have one, ask the manager for one. They'll often have extra coupons on hand, or will simply ring up the discount for you. This happened to me recently at the Kohl's store near my home. My family had a coupon for 15% off everything in the store, but my husband had it and he wasn't with me. I tried to get him to scan and email it to my phone so I would have the bar code on the coupon to show the manager or cashier. But when the email didn't come in, due to poor phone reception, the manager simply went in the back and found a 15% coupon for me. That single moved saved me more than $40 off my bill–and reminded me why I love shopping at Kohl's. Click here to continue reading… WHERE THE DEALS ARE Now let's talk about which retailers are offering big "door buster†sales and other in-store promotions on Black Friday. If you've got kids, Toys "R†Us is probably high on the list of places to hit. And this year, for the first time ever, Toys "R†Us will open its doors at 9pm on Thanksgiving night. Meanwhile, a slew of other stores, including Best Buy, Gap, Kohl's, Macy's and Target will all be open for business at midnight. In fact, all this week, each of these retailers is currently offering pre-Thanksgiving specials with discounts averaging 20-40% off regular prices. It's the latest in the trend toward earlier and earlier Black Friday deals. So much for waiting until the traditional 5am rush at WalMart, which will also have its own bargains on display early, and is opening at 10pm on Thanksgiving. Most retailers don't officially release their Black Friday deals until the day before Thanksgiving. But if past trends hold true, deals of 50-70% off will be common. THE FREEBIES AND DEALS WAITING IN YOUR WALLET No matter which stores you hit, there may be another way to purchase holiday gifts without actually dipping into your savings account or using your credit cards. It's by cashing in rewards points that you may have racked up based on your past spending. According to a survey called the Capital One Rewards Barometer, 75% of consumers are unaware that some credit card rewards issuers offer special deals during the Black Friday shopping frenzy. And since only 16% of those polled plan to redeem rewards for holiday gifts this season, this suggests that many Americans on a budget may be underutilizing this rewards points-for-gifts option. AVOID THESE BLACK FRIDAY TRAPS Now that you know how and where to nab those rock-bottom deals, be sure that you don't blow it financially by getting sucked into two Black Friday "deals†that are best avoided. The first so-called deal to avoid is the extended warranty or insurance plan that retailers will be offering left and right. If you buy any electronics, household appliances or gadgets, you will definitely be pitched relatively expensive insurance (10% of more of the purchase price) to "protect†the product. Such coverage is generally a bad deal, so you should just say "no†to it and not waste your money. Besides, your credit card may offer you some extended protection. Also, if the merchandise you buy does have problems down the road, chances are the insurance you're being encouraged to buy won't replace the item with a brand new product, but only with something of lesser value or a refurbished model. The other financial trap you need to be aware of on Black Friday is the proliferation of retail store credit cards you'll be offered. Invariably, some nice lady or cashier ringing up your purchases will ask: "Would you like to save 10% off your purchase today?†Again, your answer should be "no.†Store credit cards carry higher interest rates than do national brand cards, such as a Visa or MasterCard. Additionally, every time you apply for a new department store card, that triggers a "hard inquiry†on your credit report, which lowers your credit score. So, do yourself a favor and follow these tips for enjoying Black Friday shopping that doesn't bust your budget–and doesn't hurt your credit rating either. Watch below to see which Black-owned businesses folks are supporting this holiday season //