Save Money Online on Cyber Monday

  • Are you ready for Cyber Monday? The day after Thanksgiving used to be D-Day for holiday shopping; but thanks to the Web, brick-and-mortar-focused Black Friday must now compete with online bargains on Cyber Monday.

    According to Edgar Dworsky, founder of the consumer resource guide, Cyber Monday is gaining traction.

    "Black Friday may still be the single best day to shop for price, but Cyber Monday gives some retailers -- particularly online-only ones -- a chance to shine," Dworsky says.

    The numbers agree: According to comScore Inc., online shoppers spent $1.028 billion on Cyber Monday last year, making it the heaviest online shopping day ever. Savvy shoppers can make the most of the Web frenzy by taking advantage of a few key strategies to save money.

  • Get organized with a spreadsheet Make a list and, yes, check it twice. Create a list or spreadsheet with the names of the recipients, gift ideas and addresses. By staying organized, you'll avoid accidentally buying three gifts for your colleague and none for your sister. If you have all of the addresses in front of you, you also can take advantage of Cyber Monday's myriad free shipping deals to save money, says Andrea Woroch, a spokeswoman for and other sites.

    "Search for free shipping codes and send your gift directly to the recipients," she says. "You'll save money by shipping the present just once, and you can avoid costly baggage fees if you might otherwise pack them in your luggage on a flight."

  • Do research on the best prices The best deal-hunters are well-prepared when they begin their Monday purchasing. Take inventory of what you need and your list of holiday gifts, and head out on the Internet highway to save money, says J. Brian Preston, a financial planner at Preston & Cleveland Wealth Management LLC in McDonough, Ga., and host of the "Money Guy" blog.

    "You can find the best products by doing research on a site like, and then check current prices at a site like," he says.

    Once you have context, head to sites such as to compare your needs with what will be offered. Dworsky adds that Black Friday circulars can serve as a benchmark for your Cyber Monday shopping.

  • Pay attention to extra costs Sometimes, what you see isn't really what you get. Shipping, handling and taxes can easily double the cost of an inexpensive holiday gift, says Dworsky.

    "Recognize that the attractive price on the website may not include those extra costs, and sites may not disclose those fees until well after you've put the item in your cart," he says. "If it costs you an extra $10 to buy a single $10 item, you're not getting much of a deal."

    Before you click "buy" on Cyber Monday, be sure you know the final cost -- and how it stacks up with deals at other sites. That's the only way to save money.

    Next > is the Web's leading aggregator of information on financial products including mortgages, credit cards, new and used automobile loans, money market accounts, certificates of deposit, checking and ATM fees, home equity loans and online banking fees. Visit to get the tools and information that can help you make the best financial decisions.