Don’t get swept away by Black Friday deals

Black Friday is almost here and we’re already being hit with countless adverts for tempting deals and discounts. But when is a bargain not a bargain?

The answer: when you don’t need it and when you can’t really afford it.

So how can you make sure you don’t get swept away by all the Black Friday excitement and sucked in by well-targeted ads?

1. Stop and think

Before spending any money, ask yourself if you really need the item you’re looking at and if you can afford it.

If your answers aren’t a decisive “yes”, then you probably don’t really need it and you can spend your money on something else more important.

2. Be aware that you’re being sold to

Brands and retailers don’t want you to have certain items because they’ll make you happy or improve your life.

More than anything, they just want your money.

So recognise the sales tactics they’re using to make you open your wallet, such as:

• flash sales with countdown clocks
• low-stock warnings
• artificially bumping up prices just before a sale
• free trials that quietly auto-renew
• influencers promoting products they don’t use
• bundles that don’t actually save you money

3. Don’t be tempted by the “thrill” of spending money

It’s easy to have your head turned by a reduced sticker, a special offer or a high-profile promotion.

But would you even be considering this item if it wasn’t discounted?

If you’re only buying for the short-term thrill or excitement of bagging a bargain, you can probably live without it.

4. Don’t forget essential costs 

Before launching on a shopping spree, make sure you’ve already taken essential day-to-day costs into account, such as:

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

If you know exactly how much you’re spending on vital costs like these, you can work out what you can comfortably afford to spend on Black Friday deals.

We’ve created a guide to how to create a budget, so you can see how much money you’ve got coming in each month and where it’s going.

You can then ringfence money for essential expenses and know what you’ve got left to spend on treats and non-essentials. 

5. Stick to your budget

Once you’ve worked out how much you can afford to spend on Black Friday offers, stick to this limit.

Otherwise, you run the risk of spending more than you can afford, even if you’re just buying a few items.

6. Plan what you want to buy

Black Friday offers are designed to tempt us and make us spend money impulsively, so it’s important to be disciplined.

One way you can do that is by writing a list of exactly what you want to buy and how much you’re willing to spend on each item.

If you know what you want to purchase before the deals land, you can check the prices in advance and find out what they cost on a regular day.

You’ll then quickly be able to see if you’re actually getting a good deal when Black Friday rolls around, or if you might as well wait a few months to buy what you’ve got your eye on.

7. Compare prices 

If you’ve put together a list and set a budget, you can also compare prices on different retailers’ websites to see which ones offer the best deals.

Remember to factor in other costs like interest rates on payment plans and delivery charges, as they could easily bump up the amount you’re spending.

8. Shop early

Black Friday itself might be on 27 November, but plenty of retailers will be running special offers well before then.

So if you see something you’re after and happy that it’s a good deal, you might be better off getting it sooner rather than later.

9. Sign up with your favourite retailers and brands

If you have a few retailers and brands that you always turn to, then create an account on their website.

You might then get early access to Black Friday deals, exclusive discount codes and possibly a quicker checkout process.

10. Set price alerts

If you’re on the lookout for a specific item, set up a price alert through sites like PriceRunner or Google Shopping.

You’ll then be notified whenever the price comes down.