How to save money this Cyber Monday

Cyber Monday is today and people across the country will be busting open their wallets and cruising the web in search of the best deals. 

So what exactly is this digitally inclined holiday and how will it save you money? Cyber Monday comes after the weekend of Black Friday, and is the day when retailers offer consumers a number of online deals similar to the ones seen in stores the previous weekend. MTL Blog explained that consumers can find savings via free shipping, significant discounts or buy-one-get-one deals. The deals will vary a lot between stores. 

Last year sales on Cyber Monday hit $2.9 billion, according to a CBS affiliate, and the deals will likely be even better than last year. This could even be the first year that the digital deals on Monday beat out the savings on Black Friday. Because more people are expected to take advantage of the online deals this year, the discounts will likely be steeper.

Making sure that you shop smart on Cyber Monday
If you plan on shopping online this Cyber Monday, make sure you have a strategy in order to ensure you don't buy anything you don't need, find the best deals and ultimately save money on this day of digital savings. Look for a few things when browsing around for the best cyber Monday deals. 

For example, make sure that the discounts being offered are as good as advertised, the St. Louis Post-Dispatch explained. One trick some retailers like to use is to exaggerate the regular prices listed on the website in order to make their deals seem better. Make sure you know exactly how much the products you're interested in are worth in order to ensure that deals are as good as they seem. 

And just because these deals will be online doesn't mean that the stock will be unlimited. The publication explained that the best discounts are often applied to items that retailers are short on. The huge sales on low-stock products bring consumers in, and when the items are sold-out, customers are forced to settle for lesser deals. Make sure that if an item you want does sell out, you do your research before picking out something that is similar, because the alternate deal may not be worth it. Make sure that the discount is equivalent, or as close as it will get, and that the quality of the product is still good. 

Also, the St. Louis Post-Dispatch suggested keeping a list of the products that you need, so that you don't go off on a shopping tangent. Stick with the items that are on your list, to make sure that you're saving money on Cyber Monday, rather than overspending. 

Another aspect of Cyber Monday shopping strategy is making sure that you get your timing right. The first set of deals often begin at 12:01 a.m. EST, according to CBS. The next phase of discounts usually kicks in around 12:01 a.m. PST, when West Coast retailers get into the mix with their own online deals. The next surge of deals should come right before most office lunch breaks begin, when people at work are taking advantage of Cyber Monday deals during their hour or so off mid-way through the day.

The internet will be littered with discounts, both truly great and not quite so good, so make sure to be smart when hunting down deals this Monday. Do your research, time your shopping well, and you'll be on the path to saving money this Cyber Monday.