Black Friday vs. Cyber Monday -- When Should You Do Most of Your Shopping?

For many years, Black Friday dominated the spotlight in terms of holiday deals. But in recent years, Cyber Monday has emerged as a strong rival.

It used to be that Black Friday was the day you could snag a world of savings on in-store purchases, while Cyber Monday was the day to save money online. These days, there's not much of a difference, since retailers that run Black Friday specials tend to offer online bargains on Cyber Monday as well. Rather, the primary difference between the two events is more of a timing thing.

As you gear up for the biggest shopping weekend of the year, you may be wondering whether to make most of your purchases on Black Friday versus Cyber Monday. And the answer? It may not make much of a difference which day you choose to shop.

There are deals to be had all around

Some experts will tell you that Black Friday is the better day to shop than Cyber Monday, while others will say the opposite. Business Insider says that Black Friday is a good opportunity to buy items you only tend to purchase once a year, while Cyber Monday is a better day for buying holiday gifts.

Meanwhile, Nationwide says if you're hoping to load up on apparel, it's best to do so on Cyber Monday. On Black Friday, you may be more likely to snag a good deal on electronics.

The reality, though, is that your savings could be hit or miss on either day. So your best bet may be to plan to shop during both events, albeit strategically.

Map out a plan for Black Friday and Cyber Monday

Chances are, you'll find some great deals on Black Friday, but you may not find an awesome bargain on every item on your holiday shopping list. So a good bet is to research prices, see how the Black Friday deals stack up, and buy items that are most certainly marked down notably from their normal prices.

However, you don't want to rack up too large a credit card tab on Black Friday to the point where there's no flexibility for you to spend money on Cyber Monday. You may find that a number of great deals drop at that point, too. And you can certainly look out for Cyber Monday discounts if, come the end of Black Friday, you haven't completed your holiday shopping list.

Keep in mind, too, that retailers want to encourage customers to shop during both events. So chances are, your favorite ones will offer some discounts on Black Friday -- but specifically withhold certain bargains until Cyber Monday rolls around. That's because the more days you shop, the more money you're probably likely to spend in total.

It's hard to pinpoint whether Black Friday versus Cyber Monday will be the best shopping day this year. And much of that will depend on your personal shopping list and when certain items are available for a lower price. But if you take the time to do your research ahead of time and shop during both events, you may find that you're able to get the items you're looking for while getting to add some cash to your savings account along the way.