Black Friday shoppers worried about consequences of impulse spending

The Black Friday sales have started and millions of us are eagerly snapping up bargains ahead of Christmas.

But with so many discounts around, it’s easy to end up buying things you don’t need and spending more than you can afford.

So it’s no surprise that many shoppers end up regretting their purchases.

In fact, research from Standard Life shows that nearly a third (31%) have regretted a Black Friday or Cyber Monday purchase.

Meanwhile, one in three (33%) say they only bought an item because it was on sale, and 32% admit they didn’t really need the purchase in the first place.

Black Friday shoppers wasting hundreds

Many of these people are also spending eye-wateringly large amounts of money on items they don’t want or need.

One in six shoppers believe they’ve wasted over £500 on Black Friday or Cyber Monday purchases. 

And nearly one in five (17%) say they never used or wore what they bought.

Worse still, 14% confessed they couldn’t actually afford the item at the time.

Many impulsive shoppers also ended up worrying about the long-term financial consequences.

For example, more than two-fifths (42%) admitted that spending in the sales has affected their ability to save for the future.

“Black Friday can be a great time to find genuine deals,” said Mike Ambery of Standard Life.

“But it can also be a time of regret, when people spend on things they don’t really need or fall for promotional sales which aren’t actually any cheaper than other times of the year.

“Taking a step back and thinking about where that money could make the biggest long-term difference might be more rewarding in the end.”

What will you spend on Black Friday deals this year?

According to Nationwide, the average Brit who’s got an eye on Black Friday bargains is expected to spend £123 this year.

Young adults aged between 25 and 34 are tipped to spend the most - around £255 per person.

If you’re worried about spending more than you can afford, then check out our tips on how to make the most of Black Friday without breaking the bank.

With just a little planning and thought, you can shop smart and enjoy all the great deals guilt-free.