Financial experts tell News 12 ahead of Black Friday and Cyber Monday, it's important to make a spending budget.

"If you have a plan, you're less likely to get caught up in the psychology of Black Friday and holiday shopping. Make a list and remember it's the thought that counts," says Maggie Johndrow, a financial advisor.

Johndrow suggests choosing thoughtful but less experience gift options.

She also encourages people to do their homework to ensure they are getting the best deal.

"If you are planning on holiday shopping, be sure to use apps or Internet plugins that are to your advantage. There are great deals on Black Friday and specifically on technology. But if we're thinking of other types of items to buy, there might be better times to buy it," says Johndrow.

Johndrow says in order to have financial success in the new year, it's best to avoid going into debt or opening up a store credit card. According to Johndrow, taking out a new credit card during the holidays could have a negative impact on one's credit score.

This is especially important for those looking to purchase a home and need to take out a mortgage, as well as those looking to buy a car and need an auto loan.

"If you're already going into January with new debt, it could really impact your spending for the year and not let you save for other goals," says Johndrow.