Mississippi customers lined up before Black Friday opening in 2011. AP photo/The Commercial Appeal. Stan Carroll

Ahhh… Black Friday. The day after Thanksgiving where most retailers open early and offer highly-discounted items to kick off the holiday shopping season. Or the day when shoppers run amok during the wee hours of the morning in the name of holiday cheer. Whichever definition you prefer.

For some people, Black Friday is totally worth the money-saving hype, and for some it’s not. For us, we look forward to Thanksgiving night where we browse through Black Friday store ads and map out our game plan for execution. To help you decide whether to partake in the Black Friday madness, we’ve outlined a few tips and ideas to see if it’s worth your while.

Key strategies that most retailers follow are competitor price-matching and placing their hottest items on the front of their Black Friday ads. This practice draws larger crowds and anticipates higher revenues year-over-year. The downside of this for most consumers is that these items are usually limited per store. For example, a store may only have 10 televisions to sell at an unbeatable price. If you’re not one of the first to purchase a particular item, you’re out of luck. To make sure you’re one of the ones to get the most out of this Black Friday’s sales, here is is what we’d advise.

First, avoid the crowds by making your purchases online. Most major retail outlets allow consumers the option to shop via their website. While shopping online, remember to use a major credit card and not a debit card to prevent identity fraud. Most banks will replace funds that were unauthorized out of your account, but you may have to wait as long as a week before your funds are replenished. A credit card company can release you of responsibility of fraudulent use by the time your next bill is due. (Please note: we do not promote using credit cards unless you pay off the balance in full to avoid finance charges.)

Second, prepare ahead of time by creating a budget and making a list of items you would like to purchase. Black Friday ads are available online up to two weeks before the big day. Start today, and you will still have enough time to browse your favorite stores ads and to execute your game plan. Also, remember to stay focused. Retailers will put doorbusters with great prices in their ads to lure you in. They’ll use creative marketing tactics to persuade you to purchase items you never intended. We are avid believers in staying within what you can afford, even during the holidays.

Last, don’t overlook smaller items that are most times overshadowed by 50 inch TVs and other flashy items. For example, if you are a new homeowner, Black Friday is the perfect time to purchase your smaller appliances, such as coffee pots, toasters, blenders, and more for as low as $5 each. Those same items can be used as gifts for other special occasions, such as bridal showers, birthdays, and housewarmings to name a few.

With these tips in hand, do you believe Black Friday is worth the money saving hype? Please share your thoughts.

Tai and Tarin Perry are financially savvy identical twin sisters, and investment bankers turned money saving experts at www.DoubleSavingDivas.com. You can also connect with them on their Twitter, Facebook, and YouTube Channel.

Join us on Facebook this Wednesday at 3pm when Madame Noire Business and the Double Saving Divas will be hosting a chat, covering all of your budgeting and money-saving questions. 

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The holiday season is a great time to thank clients, co-workers and even your boss with a special gift that acknowledges a good working relationship. However, there are gift-giving rules. As we approach the holiday season, now’s a good time to go over some of those rules and make a few suggestions so you’ll be ready for all those upcoming parties and gift exchanges.

According to About.com, one should avoid gifts that can cause any sort of offense. Not just the blatant stuff like an item that makes an off-color suggestion about someone’s race, gender, or religious affiliation, but things that could cause someone to crack that crooked smile as they search for the right tone to say that your weird present is “thoughtful” and “appreciated.”

Here are a few executive gift ideas to add to your Christmas shopping list:

For the networking fiend

The perfect little stocking suffer is a colorful crocodile-embossed business card case.  Available at Neiman Marcus. Price:$50.

Got a colleague who is always connected?

The Bose MIE2 Mobile Headset allows wearers to switch between taking calls and enjoying the music. Available at Saks Fifth Avenue. Price: $129.95

Present for the office decorator

This test tube desk organizer is a funky way to keep things in check. Available at Urban Outfitters. Price: $20

If your boss or colleague crazy about golf, they’ll need these.

These “Soft-Eze Iron Protection” golf head covers also help players keep their clubs organized.  Available at Sports Authority. Price $24.99.

For the jetsetter

Who knew a travel adaptor could be stylish?  It comes in a chic leather case and has four different plug configurations that will work in 150 countries. Available at Henri Bendel. Price: $68.

Fashion find

This Gossamer silk scarf is funky but classic at the same time. Great for the fashionable female executive. Available at: Henri Bendel. Price: $138

If you haven’t noticed yet, you have less than a week until Christmas, and for the chick going through especially hard times money wise this year, that’s less than a week to figure out an excuse as to why not everybody will be obtaining a gift this time around. We all know that not everyone is capable of breaking the bank and stimulating the economy big time like the news says (especially when you’ve “got” bills), but you can still offer something that people will enjoy, or more importantly, can use, without having to miss out on paying a bill at the end of the month. We’ve got some last minute ideas for you that will be easy on your wallet:

Today is a special day. It’s the beginning of the year—a clean slate that is completely unblemished by last year’s mistakes and mishaps. Even if you’re not the type to make resolutions, you can’t help, but feel like things are brand new on the first day of the year.

What will you do with this day of firsts? Let’s start 2011 on the right foot, Mesdames!

Here are a few suggestions to help you set the tone for the rest of the year!