Black Friday Sale: Top Tips for Saving Money

Get the most out of Black Friday sales while keeping your finances in check with these top tips from OpenMoney.

Black Friday Sale: Top Tips for Saving Money

As the COVID-19 pandemic continues to affect the world, 2020 is expected to see one of the most competitive Black Friday periods in UK history. With the UK’s credit card debt already standing at approximately £1,182 per person, it’s essential to be mindful of our spending habits during this time.

Black Friday shopping frenzy

To help you navigate the sales and avoid overspending, low-cost financial advice platform, OpenMoney, has shared some top tips for saving money.

1. Don’t Spend What You Don’t Have

It’s crucial not to spend money you don’t have, especially if you’re already struggling financially. Make sure you have a clear understanding of your financial situation before making any purchases.

2. Do Your Homework

Do your research beforehand to ensure you’re getting the best deals and avoid panic-buying on the day. Take your time to compare prices and look for discounts that align with your needs.

3. Make a List – and a Budget

Decide what you need and what you’re willing to spend, then make a list of everything you plan to buy. Stick to your list and avoid impulse purchases.

Plan your budget

4. Avoid Impulse Purchasing

Limited-time discounts can increase the urgency to buy, but before you hit “checkout,” stop and think. Ask yourself: What might the consequences of the purchase be? Do you really need it? Can you afford it? Will you still want it next month?

By following these simple tips, you can make the most of the Black Friday sales while keeping your finances in check.

Black Friday deals

Remember, it’s essential to prioritize your financial well-being during this time. Be mindful of your spending, and don’t let the temptation of discounts cloud your judgment.