On this side of the pond, Thanksgiving can come and go without garnering much attention, but there’s one date firmly underlined in the annual calendars of retailers everywhere: Black Friday. Traditionally marking the day after Thanksgiving when millions of Americans started Christmas shopping, it’s now well established that the date is a major shopping event and there are plenty of deals to be snapped up.
However, as with all things money, there are some shady tactics around and it’s all too easy to fall for the lure of a sale. To help you combat spending regret and shop savvily this Black Friday, I’ve gathered the top tips from a range of financial experts to guide you through.
© GettyAvoid shiny object syndrome
Keep your eyes on the prize when you shop during the Black Friday sales, as you can guarantee that there will be shiny items everywhere you turn trying to distract you into buying things you don’t actually need.
“It can be really tempting to go wild and be sucked in by the discounts, but a bargain is only a bargain if you’re buying something you actually need or want. So before Black Friday make a list of the things you’re hoping to grab and then when the discounts start, only shop your list,” suggests Jamie-Lee Birch, founder of Savvy Jamie.
Make the most of members’ discounts
For the majority of the year, receiving endless marketing emails can be an unwelcome incentive to spend, however, there’s one time of year when marketing emails can come in handy and that’s when sale season starts.
Increasingly, retailers reward their mailing list by granting early sale access and especially if you have your eye on a specific item, being the first to know about a deal can save a lot of stress about items selling out. So sign up for mailing lists now, and remember to unsubscribe after you’ve bagged your bargain!
Beware of false bargains
When the spending season comes around, retailers are experts at using their best sales tactics to get you to hit that buy now button and spend, spend, spend. And it’s no surprise that when we see big red discount signs, we automatically think we’ve got a good deal.
© ArtistGNDphotographyThe reality is that there are sneaky ways that retailers can tweak pricing to create the illusion of a deal, so tracking prices in the run up to Black Friday can help you ensure you are really getting value for money.
Money mindset coach Katie Watkins recommends using apps to keep an eye on pricing of specific items before you shop. “Use an app like Pricerunner or Idealo to find the best price on specific items. You can also set up price alerts to be notified when those items drop below a certain price.”
Turn back the clock
A lesser known piece of shopping intel? It’s not uncommon for brands to rinse and repeat their approach to Black Friday offers and sales strategies. Matilda, founder of A Millennial Saver, encourages shoppers to check a brand’s history before heading to the checkout.
“Have a look at what the brand did last Black Friday – Martin Lewis often does an article on this – as some brands run the same campaigns each year and actually drop prices further throughout the weekend.”
© GettyGet cashback where you can
Earning cashback is a clever way to save a little extra on the cost of your shopping, and it doesn’t require much effort at all. Cashback can sound too good to be true, however, it simply allows customers to earn back a percentage of the money they spend, either through a card company or a cashback website.
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Helpsavemoney founder Gemma encourages her readers to make the most of cashback opportunities. “When you shop, check quidco and TopCashback first before you buy.” Don’t forget to check your debit or credit card too, as many offer cashback as a customer perk.
Ellie Austin-Williams is the author of Money Talks, a Lifestyle Guide for financial wellbeing. Find her on Instagram at @thisgirltalksmoney.
