Every year, the end of November marks one thing, well actually two: the Christmas countdown officially begins, and Black Friday sales, deals and offers pop up everywhere on our screens and in stores, tempting us to spend money on items we might not really need or don’t have money to spend on.
We’ve put together a few tips below to help you come out of the last weekend of November financially intact every year, and not let the sales get to your head, or your wallet!
1. Do I really need this?
With so many offers available for a very short space of time, it can be pretty overwhelming. It’s easy to get caught up in the excitement and it’s difficult to know what to do and be realistic about what you really need. Why not commit to checking in with yourself before you buy anything and ask: “do I really need this?” before going ahead.
2. Get organised & stay focused
Make a list of specific items you’d really benefit from buying at a discounted rate. It might be that there is something you’ve been wanting to buy for a long time and Black Friday would be a good time to do it. If that’s the case, stay focused and only aim to find a deal for that one thing rather than browsing through any and all offers available.
3. Do your research
Once you know exactly what you need, make sure you allocate enough time to do your research. Which model of the product are you looking for? Read the reviews and take note of the item’s usual price so you can judge if a potential Black Friday sale is legitimate and avoid being fooled by an unworthy discount.
4. Don’t get blinded by % off
A deal is only a good deal if you can afford it. Even if an item is 50% off, you’re still paying a certain amount of money. Ask yourself if you can still justify spending the money on the item. It could be that it is still too expensive, regardless of the sale, or that when you think about it from that angle you don’t think it’s worth it at all.
5. No bargain is unmissable
The Black Friday ads often make it seem like the deals on offer are unmissable - of course, their purpose is to convince you to spend as much as possible. But remember: there is no such thing as an unmissable bargain. You’ve managed to live without that item in your life until now, you will most probably be fine without it moving forward!
Hopefully the above tips will help you navigate the Black Friday sales and make it to the end of November without unnecessary spending on credit cards or overdrafts. For more tips on how to fight the common tricks that retailers use to get us to spend, watch this webinar.
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