7 min read
Black Friday has created a retail revolution that seems to get bigger and crazier each year. It is the most important day for retailers, often bringing in a large portion of their annual profit. However, it has been subject to growing criticism for encouraging excessive spending and harming the environment. Therefore, if you’re thinking about joining in the Black Friday frenzy this year, stay sensible and consider the following tips first.
If you think a deal is too good to be true, then it probably is. Some retailers have been known to artificially raise their prices just before Black Friday so that their discounts seem better than they are. So, don’t fall for their marketing methods and only look at the price when deciding whether to buy something.
This is the golden rule of shopping. A credit card should only be used to make essential purchases and having it with you at the shops creates the temptation to buy extras things you don’t need. Remember: a good deal isn’t worth getting into unmanageable debt over.
If you’re struggling with making payments on credit card debt, Buy Now Pay Later credit, or any other forms of unsecured debt, get in touch with us today. We could help you consolidate your debts into one monthly sum, allowing you to repay the money you owe in a way that is affordable for you.
The key to success in the sales is planning and organisation. Know exactly what you need, how much you’ll pay for it and where you need to go to buy it. This way you can calculate how much you can afford to spend and ensure you don’t exceed this amount.
When deciding what you are going to buy, it can be easy to get carried away, especially when the products are right in front of you with an ‘80% off’ discount label attached. That’s why we’ve put together these 5 questions to ask yourself before making any purchase:
If you’re still not sure after asking yourself these questions, then you probably don’t need or want it enough to justify the expense!
When planning your Black Friday shopping list be sure to find out all the different retailers selling the same products to ensure that you find the best offer. If you’re mainly buying high-cost items, then it could be more efficient to do your shopping online so you can compare deals easier.
Many of the big retailers are highly profit-driven and want to encourage you to spend as much as possible. Therefore, as a greener alternative, why not try second-hand and charity stores. They also often have Black Friday deals on, selling items at a fraction of the price compared to brand new products.
There’s no need to feel pressure to head to the shops just because it’s Black Friday. Many people find the whole experience of being crammed into busy stores and spending money on things they never thought they needed relatively unpleasant. So, if nothing you really want or need immediately comes to mind then why not just opt out of Black Friday altogether?
There has been growing criticism over the environmental impacts of fast fashion and consumerism associated with Black Friday. This has meant that the idea of Buy Nothing Day, as an alternative, has grown in popularity over the years. This could be particularly beneficial if you’re prone to getting carried away in the shops.
If you decide to stay away from the sales, then why not plan a fun, cheap activity to keep you occupied instead? There are many other ways to enjoy the crisp, Autumn weekend on a budget. Instead of being crammed into stuffy shops, you could go for a walk in a National Trust Park with family and friends, followed by a mug of mulled wine, and taking the chance to relax before the busy Christmas period.
In the age of targeted advertising, it is more difficult than ever to avoid being exposed to deals that could draw you in. Therefore, try to steer clear of social media whilst the sales are on to avoid temptation.
Retailers organised Black Friday sales to happen on one day to make individuals feel like they’d be missing out if they didn’t join in and to encourage them to make purchases quickly without fully thinking them through. However, it’s important to remember that they want your money more than you need to spend it. So, take your time and don’t feel pressure to make purchases you’re not 100% sure about.
The key takeaway from this article is not to get carried away just because it’s Black Friday. Be kind to your wallet and the environment by being a sensible shopper and thinking through your purchases.
If your finances are keeping you up at night and you’re worried about making your monthly payments, then get in contact with us today. We can help you apply for a consolidation loan to get lenders off your back and allow you to sleep easy again.Consolidate My Debts