Many have been lying in wait at their computers for the clock to strike midnight. Others camp out in front of shops. Today is Black Friday and thousands of shoppers looking for a deal are out in force today. Before you rush to join them after work today, here are a few things to consider.
Are you really getting the best deal?
Although you are led to believe by shops that Black Friday offers deals that won’t be matched at other times of the year, in fact, they are winding their prices down for the Christmas sales and the lowest prices are usually found the week before Christmas. Toy prices are lowest in the middle of December and winter clothes and shoes are at their lowest prices the weekend before Christmas.
If you have been struggling with your finances, Trust Deed Scotland may be able to help. Try the Trust Deed Wizard tool to find out how a Trust Deed could help you write off a percentage of your debt and get your finances back on track.
Have you checked the sales prices of other companies?
There’s a strong chance the item you’re looking for may be on sale in several different shops. Read their deals online and see if they include warranties or free shipping before deciding which shop to purchase from. Also make sure to check the returns policy as some companies will offer a full refund, while others may not accept returns on sale items.
Is it still a deal if it’s something you don’t need?
If there’s nothing you need, don’t buy anything! Make a list of things you need and then have a look online or in store for them. If you buy lots of items that you don’t need on impulse, simply because they are on sale, doesn’t mean you’ve got a bargain, it means you’ve wasted money!
If you’d like to spend less this festive season, see our Money Saving Christmas Tips article.
Have you read reviews for the items you want to buy?
Make sure you’ve compared similar products and decided on the one you want to buy. Maybe, if you read reviews you may change your mind if the product has high incidences of breakages, faults or isn’t user friendly.
What is your budget?
Set yourself a target price range of what you can comfortably spend, then deduct 15-20%. Take this amount with you in cash, then, you can’t splash out on extras you don’t need and didn’t want until you saw them in the sale. By deducting the 15-20%, you’ve set aside funds for any situations that may arise such as leaks at home, boiler breakdowns or expensive energy bills. It’s always a good idea not to max out your expendable income.
Lastly, remember to stay safe and maintain your dignity!
Don’t get involved in a brawl for a TV or games console. As a London Metropolitan Police Officer tweeted,
‘Even on #BlackFriday shoving people to the floor so you can get £20 off a Coffee Maker is still an assault.’
If you’d like to some advice on your finances Contact Us for more information or see our Scottish Debt Advice FAQs.