6 Smart Tips for Black Friday Deals Without Breaking the Bank

Black Friday, falling on the 29th of November 2024, can feel like the ultimate shopping event of the year. Massive discounts, limited-time offers, and a sense of urgency to snag the best deal before it’s gone. While it can be a great opportunity to save on things you genuinely need, it’s also a time when many people overspend, take on unnecessary debt, and even fall for deals that aren’t what they seem.

If you’re preparing to hit the Black Friday sales, here are some important things to keep in mind to avoid financial regrets.

1. Ask Yourself: “Do I Really Need This?”

It’s easy to get swept up in the excitement of Black Friday, buying things simply because they’re “on sale.” But here’s the reality: if you weren’t planning to buy the item in the first place, it’s not a deal—it’s an unnecessary expense.

Before you add something to your cart, take a moment to reflect:

🛍️Would I still buy this if it wasn’t on sale?

🛍️Is this a purchase I’ve planned for or budgeted?

🛍️Will this genuinely add value to my life, or am I just buying it because it’s discounted?

By sticking to purchases you’ve already intended to make, you’ll avoid buyer’s remorse and protect your budget from unnecessary strain.

2. Beware of Overusing Credit

Credit cards and buy-now-pay-later schemes can make Black Friday spending feel painless in the moment, but the reality of repayment comes quickly. If you can’t afford to pay off the balance in the short-term, those “savings” might turn into high-interest debt.

🛒 Set a spending limit: Only spend what you know you can afford to pay back without affecting your ability to cover essentials like rent, bills, or groceries.

🛒 Think long-term: A £200 purchase might not feel like much today, but if it takes months to pay off with added interest, it can grow into a bigger financial burden.

Instead of relying on credit, consider setting a clear cash budget for Black Friday and sticking to it.

3. Not All Deals Are as Good as They Seem

A common Black Friday tactic is inflating the “original price” of an item to make the discount appear larger. For example, that “50% off” deal might not be a real reduction if the price was artificially raised before the sale began.

Here’s how to spot a real deal:

🛍️Do your research: Check the price history of big-ticket items using tools like price comparison websites. Check out:

🔗CamelCamelCamel – A popular tool for tracking price history on Amazon, showing trends for specific products and alerting you to price drops.

🔗PriceRunner – A comparison site that displays price variations across retailers and highlights historical prices for many items.

🔗Google Shopping – Search for the product name, and Google often displays a price range and a list of retailers, helping you spot inflated prices.

🔗Honey (browser extension) – Honey automatically compares prices and finds deals when you shop online, and it shows price history for certain items.

🛍️ Ignore urgency tactics: Phrases like “Only 2 left!” or countdown timers are often designed to pressure you into making impulsive purchases.

🛍️ Check reviews: Make sure the product you’re buying is actually worth it—some companies offload lower-quality items during Black Friday sales.

4. Plan Ahead and Stay in Control

The key to a successful Black Friday is preparation:

• Make a list: Beforehand, write down the items you actually need or have been saving for, and stick to it.
• Set spending limits: Know exactly how much you can afford to spend and avoid going over that amount.
• Avoid browsing aimlessly: Browsing without a plan is one of the easiest ways to fall into the trap of buying things you don’t need. 

5. Use IE Hub to Stay on Top of Your Budget

If you’re already worried about how Black Friday spending could impact your finances, take control by using IE Hub. Our free platform helps you create a clear picture of your income and expenses. So you know exactly what you can afford.

You can also use our Benefits Checker to see if you’re entitled to additional support. Giving you more breathing room when it comes to managing your money. Black Friday is all about smart shopping. And the smartest move is making sure your finances are in a healthy place.

6. Remember: Deals Come and Go

Black Friday may be a big event, but it’s not your only opportunity to save. There will always be other sales. So, rushing into purchases just for fear of missing out isn’t worth the financial stress. Take your time, think critically, and shop wisely.

Final Thoughts on Black Friday

Black Friday can be a great opportunity to save on things you genuinely need, but it’s just as easy to overspend and create financial strain. By being mindful, staying within your budget, and avoiding unnecessary purchases, you can enjoy the sales season without regret.