Now the month of November is underway, the annual retail sales will commence. The most favoured of them all is ‘Black Friday’, falling on 25th November. This day is notorious for finding great discounts before the Christmas festivities. However, you should try to avoid overspending on this day.
Here’s our tips for how to prepare for Black Friday:
Make a list of items you’d like
By making a list of the items you want, you will be able to get an idea of what retailer websites/store you’ll be shopping at. A list will also stop you from impulse buying on items you don’t need. If you can stick to your list, this will be beneficial in the long-run as it restricts the possibilities of impulse buying. Some people are commonly known for buying their Christmas shopping on Black Friday. It may be worth thinking about whether you will utilise that day for gift shopping.
Budget for ‘Black Friday’
Decide on whether you need to set a budget for the occasion. This will avoid overspending on the day. Furthermore, you should make sure all your outgoings are covered before you go on a spending spree. By setting a budget for Black Friday, it will help you to manage your finances better. Moreover, you won’t be keen to overspend, because if you exceed the budget limit it will affect your financial position for the month.
Only use your credit card if you need to
Having a credit card, shouldn’t give you license to go crazy. Try and control your spending. If you buy anything on your credit card, you will have to spread repayments. If you plan on spending more than £100, it may be a good idea to make this payment on your credit card such as a new camera, TV or designer handbag. Look at your list of items, and avoid spending too much money on your credit card, if it can be avoided.
Check retailer offers to get the best deal
If you’re planning on purchasing a product such as a TV or luxury item, shop around for the best price. The product you want might be on Amazon and Currys. Therefore, you should do your research and find out which retailer can offer you the best price for the products you want. Black Friday deals will usually go on for at least a few days, inevitably there will be a rush to get certain items. With a good idea of the retailers you’ll be buying from, it should be a smooth process.
Remember Black Friday this year is on Friday, 25th November. Some retailers will start their offers beforehand, so be sure to check your inbox for alerts. Black Friday deals will usually go on for at least a few days, inevitably there will be a rush to get certain items. However, it should be a smooth process if you manage to follow some of the tips listed above.
This post was written by Melisa.