As Black Friday approaches, it’s time to start thinking about how you’ll be getting involved. Perhaps you buy all your Christmas presents on Black Friday, or have your heart set on a treat for yourself that you hope will be reduced to a more reasonable price than you can normally afford. Either way, here are some tips for getting the best out of Black Friday whilst sticking to your budget.
Research before the day
Whatever you do, do NOT just jump in on the morning of Black Friday without any concept of what prices were like the day before. You should have a list before the day of what you’re buying. Perhaps you’re hoping to get some Christmas presents, or a loved one’s birthday is approaching and you know they’d like a particular watch or a gadget. You should research the price in advance to see how much you would typically pay if it was not black Friday – try not to be sucked in by the claims of huge discounts that might not have actually been the case. Don’t be fooled by RRPs and huge percentage signs. Check eBay for second-hand prices too and don’t forget to factor in delivery costs.
Read about Black Friday deals in advance
Many stores publish their Black Friday deals in advance, or will give an idea of what items will be reduced. Knowing in advance means you know whether it’s worth the money or worth the trip to the store if it’s not an online deal. Research as many retailers as you can to decide where you will get the best deal, and perhaps have a few backups in case your chosen retailer sells out or has a different price to what you were expecting.
Don’t buy for the sake of it
Make a list before the day with what you actually want to buy and try your best not to get swept away by other deals. It’s easy to get lost in a sea of bargains and end up overspending without much to show for it. Remember that the ideal scenario is to come away with what you were going to buy anyway but at a much cheaper price, so if you end up spending too much and end up with more debt going into the new year than you hoped to, that’s not what you were aiming for.
Set a maximum spend
Once you’ve done your research you should have an idea of what prices you are expecting. On your list make sure you write the maximum price you are prepared to pay for each item and make sure you stick to it. Even if you have your heart set on an item that Black Friday has made more affordable, think ‘would I buy it at this price anyway?’ Take a step back and if the answer is no, don’t buy it.
Give yourself plenty of time
If you’re attempting to buy a games console whilst at the grocery store or as you’re rushing to the gym, you might make a mistake like getting your figures mixed up or paying with the wrong credit card etc. This could cause problems for yourself further down the line, so if you are able to, give yourself a reasonable amount of time to get the job done properly (maybe during your lunch break, or getting up half a little earlier than usual to grab bargains before leaving for work). Take your time!