Don’t blow your budget this Black Friday

Black Friday is nearly here, with every brand you can think of offering tempting deals that are hard to resist.

Whether it’s a shiny new TV or games console or luxury fashion and cosmetics, it’s easy to get swept up in the excitement.

So how can you enjoy the sales without blowing your budget and paying for it later?

Stop and think

Before you part with your cash, it’s important to ask yourself key questions like:

• do I really need this item?
• can I afford it?
• am I only thinking of buying it because it’s reduced?

If you find yourself hesitating, chances are you don’t really need it and you can save your money for something that really matters to you.

Cover your essentials first

Before you start scrolling through deals, make sure you’ve already budgeted for basic expenses like:

• food
• energy
• council tax
• rent or mortgage
• any loan repayments

Once you know how much you’re spending on essentials, you can then work out what you can afford to spend on treats and luxuries.

Check out our guide to how to create a budget, so you can see how much money you have coming in each month and where it’s going.

You can then prioritise your spending and know how much you can afford to spend on treats, without putting your long-term goals at risk.

Stick to your budget

Once you’ve set your budget, stick to it.

Even just a few small purchases can quickly add up to more than you can afford.

Make a list

Instead of buying the first things you see on impulse, decide in advance what you’re actually in the market for.

You can then write a list of what you want and think about how much you want to spend on each item.

It also means you can check prices now to get an idea of what these things cost when there isn’t a sale.

After all, the Black Friday discounts aren’t always as generous as they might at first appear.

And you might find out you can get similar prices at any time of the year.

Compare prices 

Once you’ve made a list and have set your budget, use price comparison websites and check different retailers to see where you can get the best deals.

And don’t forget to factor in other costs like delivery charges or the interest rates that come with payment plans, as that could make a difference to what you’re spending overall.

Shop early

Black Friday lands on 29 November, but many retailers will release their discounts ahead of time, and the prices are often just as good.

So if you find something you want and it’s genuinely a good deal, there might be nothing to gain from waiting.

Set price alerts

If you’re waiting for a particular product, set up a price alert through sites like PriceRunner or Google Shopping. 

You’ll then get notified when the price drops, so you don’t end up panic-buying.

Sign up with your favourite brands early

If you’re thinking of buying from certain retailers, create your accounts in advance. 

Some brands offer members-only discount codes or early access to deals.

And you’ll save precious seconds at the checkout.

Ultimately, the best Black Friday deal is one that doesn’t leave you short when the bills land on your doormat.

With a little planning and thought, you can shop smart and enjoy a guilt-free Black Friday.