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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

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6 tips on how to become a smart shopper this Black Friday

Ahh…Black Friday – the pre-Christmas shopping period that every shopper lives for! The day in which thousands of items are expected to be discounted across major high street stores and online retailers.

With huge discounts to be found, it’s hard not to get caught up in the retail frenzy. But while it may seem like the perfect time to treat yourself or buy gifts for friends and family, it can also become addictive, overwhelming and hard on your pockets, if you don’t have a strategy in place.

To help ensure you make the most of your money, we’ve put together six ‘smart shopper’ tips on how to save time and spend less money during the Black Friday madness.

 

  • Plan your budget from the offsetdon’t get caught up in the hype and spend money you can’t afford on things you don’t need out of impulse. Work out how much money you have to spare, really think about what you need and create a shopping list in advance. It might also be a good idea to put these items in priority order.

 

  • Do your homeworkresearch what shops are most likely to offer the best discounts for the items you want. Keep a record of this so you know exactly where to shop on the day to avoid disappointment.

 

  • Look out for hidden costs not every bargain is a real bargain. Before you get lured into throwing items in your cart, ask yourself: is this something I really need? And is the price really that amazing? Be aware of retailers that give illusionary discounts with misleading claims. Just because it’s on offer don’t assume it’s the cheapest, and always remember to compare prices before making that final purchase.

 

  • Shop onlineit’s a faster, more convenient way to shop, in the comfort of your own home without the hassle of queues. It’s also an easier way to compare prices to get the best value for money. Many sites will even offer ‘free shipping’ or ‘online discount exclusives’ which you can take advantage of.

 

  • Sign up to newslettersMany retailers use newsletters to inform their customers about their great deals days before Black Friday. While doing your research and planning what to buy, don’t forget to sign up for newsletters.

 

  • Have a fall back planWith Cyber Monday, Christmas deals and January sales following shortly after, there are plenty of opportunities to find the discount you’re looking for on another occasion. Don’t rush it, be patient and know when to wait for the right time. Or alternatively why not challenge yourself to resist the urge to splurge, saving more money in the log run!

 

Do you have another Black Friday top savings tip? Or any other advice on how to save money at Christmas? Share on Facebook, Twitter or Instagram using #12SavesOfChristmas and @MoneyForLifeUK for your chance to win £100 vouchers of your choice.

 

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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

Launch Chat

Chat to the Money Advice Service
Monday to Friday, 8am to 6pm
Saturday, 9am to 1pm.