Is Black Friday Bang for your Buck?

Black Friday is back, tempting our wallets with wild prices for wonderful goodies.

But even amidst the cost of living crisis, these slash sales still tempt us to spend.

Why does Black Friday get us every year?

We feel rushed, knowing that the best prices last little more than 24 hours. Often there might be a week of falling prices, but even those 7 days can feel like a countdown to pressing “purchase”.

So what can we do to skim the spend?

First things first? Make things difficult for our future selves. Even if that future self is but a few hours away.

Deleting saved card details, disabling Apple or Google Pay, and saying goodbye to downloaded shopping apps that bombard our phones with tempting notifications, is the first port of call.

You’ll be giving yourself more button presses, numbers to type, and a phone full of friction between tempting sales and your pursed purse.

Now, say you’ve made it onto a shopping website. A mere peruse can turn into a serious buy. So if you are considering buying anything, make sure to check it’s a competitive price. What are other outlets selling similar, or identical items at? You may be surprised at what you find.

And, while we’re at it: don’t be panicked when a site tells you that “20 people are looking at this now”. It’s a tactic used by companies to drive sales, and it only goes to lure you to the basket.

One of the best budget boons is to leave items in your cart for a day or two. Granted, some sales will end before then, but by leaving items in your basket online, you’ll give yourself time to mull that money over in your mind. Do you really need that new TV?

And by that rule, if you didn’t need it before you saw the price, it’s unlikely you need it afterwards. Cutting back on impulse spending is integral to understanding your financial wellbeing.

Need more on money matters during the cost of living crisis?

IMI News recently covered what the Autumn Statement means for you – including your pension.