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How to avoid overspending on Black Friday

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On Friday, 27th November 2020, we can all expect the annual shopping event, Black Friday. The sales will be back in full swing, and individuals will be able to get their hands on a number of items for a fraction of the price. If you have you had your eye on something for a little while, but haven’t wanted to pay full price for it, this huge consumer event could be the perfect time to pick up that tech gadget or home product you’ve been saving for.

This year it’s anticipated that Brits will spend an estimated £7billion over the Black Friday weekend. However, just because the sales are on, it doesn’t mean that you have to go out and splurge. Before purchasing any new items on Black Friday, ensure that you consider all your financial options. For further tips on how to avoid overspending on this day, read below.

Make a list of what you do actually need – and stick to it

While the sale prices are fantastic, you don’t need it all. Before hitting the shops or opening up some of your favourite website online, create a list of the things that you either need, or have been wanting for a very long time. If they are heavily discounted, take advantage of the offers, but ensure that you are not adding things to your basket that aren’t a necessity.

Do your research

If you’ve needed a new pair of hair straighteners for a while now, and have been holding out for Black Friday, browse a number of sites before committing to the purchase. You never know, one website could have them at a greater discount, so make sure that you do your research before buying.

Use a credit card

If you’re desperate for a household item with a rather large price tag, such as a washing machine or refrigerator, for example, you could choose to pay by credit card rather than cash. That way, you can take advantage of the once-a-year shopping event, and pay the sum off in manageable instalments.

Set a budget and don’t go over it

Before opening your purse or wallet, set yourself a budget. If you know that you only have £300 at your disposal for Black Friday, for example, it will make it easier for you to avoid being tempted by the numerous deals that are completely out of your price range.

By following the advice below, you will be able to avoid overspending on Black Friday. What deals will you be looking out for?

Claire James
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