Stay in the red on Black Friday



Black Friday is perfectly timed as retailers target shoppers who are already in the mood for spending with Christmas only a few weeks away. But whilst there are some great savings to be made, please don’t spend if you can’t afford itdon’t need it, or won’t use it.

If you were already going to buy something anyway, and it is reduced from £150 to £100, then go ahead as you’ve saved £50! But if you’re only buying it because you think it’s a bargain and wouldn’t have done so otherwise then it isn’t a saving, it’s an extra cost of £50. So even though it’s ‘Black Friday’, control your spending impulses and plan exactly what you want first.

 

If you are planning on grabbing a bargain on Black Friday here are some top tips to help you not overspend and get a great deal:

Make a list

Whether it’s Christmas gifts, a new outfit or even a short break away, write down exactly what you want and stick to the list. If you don’t you will probably end up buying something just because it has a sale sticker on it. Make a shopping list and stick to it.

 

Check the prices before Black Friday

If you go shopping for something and haven’t a clue what the normal retail price is then how will you know if it’s a good buy? Check online what the best prices are before Black Friday. There are useful web tools you can use to check how much a product has been sold for previously.  Pricerunner gives an average price across shops.

 

Be careful with brands you haven’t seen before

Really cheap deals are everywhere on Black Friday, but just because a TV has a 50-inch screen, is a smart TV and has HDR plastered on the box, it doesn’t mean it’s going to have as good a picture as a Best Buy model. We’re not saying every brand you’ve never heard of is bad, but there’s a reason why some are household names and some you only ever see when there’s a sale.

 

Look at the price-not the saving

Don’t assume a deal is worth it just because it has a big, attention-grabbing saving sign. Offers like ‘was £100, now £50’, can sometimes exaggerate the discount you are really getting.

The RRP (recommended retail price) is a manufacturer’s price, and any RRPs used are meant to reflect the current market value of that product. However, there have been instances where the RRP  shops were using to compare the current price against was out of date, so didn’t reflect the current value of the product. It’s much better to check against other shops’ prices to try to work out the true value of the item you’re buying.