With over 170 million members in the United States and Canada, Amazon Prime is kind of a big deal. And while subscribers enjoy special savings, same-day delivery, and exclusive streaming all year round, the deals are even bigger on Prime Day.

Introduced in 2015, Amazon’s 48-hour sale rivals Black Friday and Cyber Monday as the top holiday for online shopping. This year, Prime Day falls on Tuesday, July 16th, and Wednesday, July 17th. Here are a few things to know before you start filling your cart.

A method to the Prime Day madness

It’s easy to get carried away on Prime Day (to be fair, it’s basically Christmas in July for Prime members). And without a game plan, even the tightest of penny-pinchers may find themselves tempted to overspend. Knowing what to expect — and preparing for the unexpected — ensures you get the most for your money while helping you avoid costly distractions. Let’s take a look at what’s ahead and start planning for your best Prime Day ever.

How much do people spend on Prime Day?

According to a recent study, Amazon earned $13.88 billion in U.S. ecommerce sales on Prime Day 2023, with day one marking their “single largest sales day ever” and the biggest Prime Day event to date. Over 70% of those purchases were under $50, but 65% of households still spent a total of $100 or more on Prime Day orders. And despite a slight decline in the average amount per order, spending per household reached an all-time high of more than $180.

Put an end to ‘doom spending’

Let’s face it, we’ve all bought things to make ourselves feel better (especially over the last few years). Whether it’s a new outfit, the latest bestseller, or a full-on spree, there’s nothing quite like retail therapy. But a shopping session to improve your mood can easily lead to ‘doom spending’ if you’re not careful. Planning your Prime Day purchases makes it easier to skip impulse buys — and the remorse that follows.

Skip the ‘spaving’ and save

While doom spending can be considered a type of coping mechanism, the term ‘spaving’ refers to the phenomenon of spending more under the pretense of saving more. We all know a great bargain can be hard to resist, but there’s a good chance you’re not always getting the deal you think. Retailers often mark prices up before a sale to make discounts seem bigger, so if it seems too good to be true it probably is. 

Decide which deals are worth it

Same goes for BOGOs: ask yourself if you really need the free one — or even the first one — before your cart fills up with unnecessary items. Saving on something you don’t want or only bought because it was on sale is ultimately a waste, and you’ll be happier with purchases that have more long-term value. Plus, the money you save can go toward things you’ll actually use — or better yet, back into your savings.

How to gear up for Prime Day 

At the end of the day, what matters most is your happiness. You should feel good about your choices and content with your purchases long after Prime Day passes. Let’s build a plan to make sure that happens.

What to do ahead of time

As a member-exclusive event, Prime Day requires a subscription to access all those deals. If you don’t already have a Prime membership, you can still participate in Prime Day by signing up for a free 30-day trial. Just remember to set a reminder before the trial ends so you don’t end up paying for a full year — unless that’s the plan.

Prepare your Prime Day list

Start by creating a list of items you actually need (not just want), such as home goods and household appliances. If your microwave isn’t so hot or your air fryer has lost its cool, then Prime Day could be the perfect time for an upgrade.

Once you’ve finished your list of needs, feel free to treat yourself with a few wants. Perhaps your puppy thought those Skullcandy earbuds were a snack, or your kitten mistook your bedsheets for a litter box. Or maybe you just missed last year’s hottest Prime Day item, the Fire TV Stick. Whatever’s on your wishlist, building a budget is key to making the most of your Prime Day experience without breaking the bank. 

Think ahead about impulse buys

Shopping lists aren’t just for remembering what to pick up at the store. They also help you put down impulse buys, like those tempting treats dangling by the cash register. Adding a little wiggle room to your budget lets you indulge responsibly in case something catches your eye that didn’t cross your mind. Who knows what you won’t be able to live without until you see it for yourself?

Set a spending limit (and stick to it)

Setting a limit on your spending helps you adjust accordingly when prices rise while keeping you accountable to your financial game plan. And when Prime Day arrives, remember: today’s deals aren’t worth tomorrow’s debt. 

Track prices to get the best deal

Now that you’ve got your list and checked it twice, it’s time to lock in the lowest price. Adding a plugin like Keepa to your browser is an easy way to track Amazon price histories and get the best deals on the items in your cart. That way, you’ll have the historical insight you need to dodge those deceptive discounts.

Get tips from other shoppers

There are lots of professional shoppers who post articles and videos on how to earn the most savings. Check out what influencers on TikTok and Youtube are saying about Prime Day for tips on deals, common mistakes to avoid, and helpful announcements leading up to the event. 

Think outside the obvious

Prime Day is a great opportunity to stock up on small items and appliances that have seen better days. Take stock of your everyday electronics  — like hair dryers, irons, steamers, and blenders — then update your wishlist when you find replacements that fit your lifestyle and budget.

What to do on Prime Day

Here are a few ways to make the most of your Prime Day experience from start to finish.

Shop around for better savings

Retailers like Target, Walmart, and Best Buy have responded to Prime Day by hosting sales events that counter Amazon’s member-exclusive offers with limited-time deals on electronics and other items. And if you don’t feel like looking around, the good news is you don’t have to. Browser extensions such as Honey compare prices at checkout to ensure you get the most for your money, no matter where you shop. So keep those items in your cart but your options open elsewhere — knowing when to hold ’em might pay off.

Keep an eye on shipping costs and speed

Whether you shop with Amazon or a competitor, shipping times and totals are worth keeping in mind. The first price you see will likely change as the item moves from the storefront to your cart and checkout. If you order items from multiple vendors, the shipping costs may start piling up, too. Comparing fees and timeline estimates helps you make sure that great deal doesn’t end up costing too much or taking forever to arrive.

Make your wishlist a reality

You’ve done your homework and found the best deals on all your favorites. Your shopping cart is locked and loaded with everything you need (and a few things you want). You take a deep breath and proceed cautiously to checkout — watch out for those last-minute add-ons — then pause before pushing the bright yellow button. You ‘Place your order’ and exhale. Congratulations, you’ve just won Prime Day. 

What to do after Prime Day

Even the best laid plans don’t always work out. If your Prime Day purchases aren’t as great IRL as they looked online, you’ve got options for easy returns.

Send it back if you don’t love it

Whole Foods Market offers free in-store Amazon returns (you don’t even have to bring your box or label!). Simply choose the Whole Foods Dropoff option in your Amazon account and you’ll receive a QR code via email or in your Amazon app. Show the code to a team member at the customer service desk — or scan it yourself at the DIY returns kiosk — and you’re good to go.

Kohl’s also accepts Amazon returns at almost all their stores (apologies to Anchorage), with free packing and shipping included. The process is essentially the same as the Whole Foods Dropoff option, sans the self-service. So whether you’re shopping for groceries or clothes, be sure to save room for your return. 

Keep track of your returns

If you use Quicken Simplifi, you can link your Prime Day transaction to the Refund Tracker tool to stay on top of your return and see when your refund is on the way. While you’re there, think about creating a savings goal to Simplifi next year’s Prime Day.

New to Simplifi? No worries. Built to make your finances powerfully simple, Quicken’s all-in-one money manager helps you stay on top of your spending with ease. From personalized plans and income insights to automated reports and real-time alerts, Simplifi delivers flexible solutions for your financial needs while paving the way to more savings. So when the time comes, your best Prime Day will be in the bag.

Enjoy your Prime Day

Whether you go on a spree or spend modestly, your experience should be worth every penny and second. With a little planning and a few plugins, you’ll have everything you need to get the biggest bang for your buck on Prime Day and beyond. Here’s to finding all the deals of your dreams. Happy shopping!