Amazon Prime Day Sale Is Almost Here. But Don't Be Quick to Click, Says This CFP

Amazon's October Prime Day Sale is on Oct. 8 and 9, just over a week away. That doesn't leave much time to save money to shop the event if you're hoping to get ahead on holiday buying. 

It's still possible to participate in Prime Day without turning to Buy-Now-Pay-Later plans or credit cards, which can lead to a debt spiral. I talked to Gregg Murset, a certified financial planner and CEO of BusyKid, who shared recommendations on how to snag Prime Day deals without blowing your budget.

This story is part of Amazon Prime Day, CNET's guide to everything you need to know and how to find the best deals.

Make a list before the big sale

With less than two weeks away, Murset understands that you might not be able to set aside enough money from your paychecks to knock out all of your holiday shopping on Prime Day. But just because you spot a deal doesn't mean you should cave into it. "Don't be quick to click," Murset says.

He suggests getting organized before the big day by making a spreadsheet of what you'd like to buy. You should then figure out how much money you have free to spend -- and be honest with yourself. From there, consider whether or not you really need to buy that item now.

Here's an example of items I put together to plan for my family's holiday vacation this year:

Example Prime Day List

I have a $100 budget for Prime Day, so if the sales price doesn't bring my total under budget (including sales tax), I'd have to remove an item. In this case, I'd prefer to remove the luggage tags, but only if the luggage set and Crocs go on sale. Otherwise, I might remove the Crocs and buy them later in the year, once I've saved more money toward my shopping goal. 

Use your debit card 

If you're worried about accruing debt, Murset recommends steering away from credit cards or BNPL plans, even if you think you can pay them off in time.

It's tempting to turn to BNPL plans to build breathing room into your repayment schedule or credit cards to rack up rewards, but Murset advises against stepping onto that treadmill. It's easy to get caught up in making purchases that you might miss a payment or realize you don't have enough to pay your bill in full. Getting a good deal isn't worth the financial headache you'll suffer from interest, fees and accruing debt.

The solution? "Use debit, not credit," says Murset.
Your debit card can be a self-restraint with an automatic limit. If the money's not there, you won't be able to use it. For example, Murset shared that if you only have $50 set aside in your account for the sale, that's all you can use. It's not as easy to overspend. Just make sure you're not spending money you'll need for bills or other essentials.

Don't feel pressure to shop on Prime Day

You might feel like you're missing out if you don't have the money to shop on Prime Day, but Murset suggests thinking ahead to other holiday sales you can start saving for now. More bargains will be on their way, including Black Friday and Cyber Monday. 

"If Amazon's Prime Day is too early and you don't have the money, skip it, and wait until Cyber Monday or Black Friday, because that will buy you a little more time to save money," he says.

Plus, if you're overspending or leaning on financing to afford a deal, you're not benefiting from the savings. Instead, use this time to prepare for items you plan to buy. 

Murset recommends setting up automatic savings transfers so you can save money every paycheck. For example, setting aside $20 every week between now and Black Friday means you'll have about $180 to put toward anything you buy. 

Even when the time comes for more big sales, Murset gives a common, but important reminder: "Don't buy it if you don't have money." You're better off paying full price for an item you've saved money for than going into debt to snag a deal.

More Prime Day spending guides: