There are two main reasons for this. Some retailers hike prices up before Black Friday to make things seem like a great deal.
So, you could get the item cheaper another time of the year. The second reason is that we’re tempted to buy things we don’t really need!
Here are MoneyMagpie’s top tips for making the most of Black Friday without getting scammed or sucked into overspending.
MoneyMagpie’s top tips for making the most of Black Friday
1. Make a List
Many people use Black Friday to buy this year’s Christmas gifts at a reduced price. And if you can bag bargains, it can be a great way to reduce the cost of Christmas without reducing the fun!
However, while you’re busy browsing sale products, it’s easy to find things that look like a bargain for yourself. We’ve all been guilty of “one for thee, one for me” purchasing when swept away in the pre-Christmas sales. Combat this by making a list of things you’re looking for and stick to it! If it’s not on the list, you’re not allowed to buy it. Trust me, you’ll find this a useful tool if you’re struggling to stick to a budget.
2. Use a Price Tracker Online
A common tactic (I’d almost say scam, if it wasn’t technically legal to do) for retailers approaching Black Friday is to artificially inflate the price during October. You see,
something must be sold at a higher price at least 28 days before it can be reduced as a sale item. So, something will be more expensive in October so that it can be ‘hugely reduced’ in November for Black Friday – but probably still the same or near the original price.
When you shop online, you can use a pricetracker like CamelCamelCamel to see if an item has been for sale for a cheaper price before – or if the price was artificially inflated before Black Friday. This will help you decide if you’re getting an actual deal or not.
3. Shop Using Cashback Sites
You might think that you can’t use cashback or extra discount codes during sales – but wait! If you shop online, use cashback sites like TopCashBack and Quidco. This will sometimes give you exclusive sale discounts and let you earn cashback even on sale items. It helps you get a little extra back from your purchases.
4. Implement a 24-Hour Rule
Black Friday used to be just one day. But, now, it seems to last a whole month! Or at least a few days. Set yourself a 24-hour rule: no spending for at least 24 hours. Even if you really want something that looks like it’s going to only be reduced a short time, take at least a few hours to think about it.
Many times you’ll find having a short pause between seeing a product and buying it means you’ll decide not to buy it anyway!
You can see more money saving tips here:
When Black Friday Can Be a Bargain
This Black Friday, I’m going to be looking at renewing my broadband, checking out mobile phone deals, and looking to buy a few experience gifts for Christmas.
This is because they are things I have done plenty of research on, and know the deals are going to save me some money across the year.
You can snap up some great bargains on Black Friday – just remember to pause before you buy, do some research, and be ready to walk away if you’re feeling pressured into a sale.
