Black Friday: Get the best deals with these simple tips

Black Friday can be a failure or a success for your personal finances, depending on how well-prepared you are. With the cost of living crisis biting off your Christmas budget, here is how to get the maximum out of the Big Sale.

Are you Black Friday ready? Here is how to get the best deals
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Are you Black Friday ready? Here is how to get the best deals

Black Friday can result in a big chunk of your Christmas shopping done at bargain prices. But it can also lead to a headache and a ‘much ado about nothing’ situation. If only you do a little bit of homework, you can get your hands on insane deals.

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Here is how to maximize your chances to get exactly what you want at the lowest price possible.

Set a goal

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If you really aim to save money, make a list of what you need before going on a Black Friday shopping spree.

Staying focused will help you get what you want and keep away from things that looked attractive at the moment but won’t prove useful in the future.

Decide a budget

It’s easy to get carried away during Black Friday as sellers know exactly how to lure the shoppers. Make a budget for your shopping and stick to it.

The goal is to find prices that will help you not only stay within to your budget but below it. It’s deals-day after all.

Research brands and products beforehand

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Once you know what you want, go online to understand where to get it. Research the websites and stores that sell these products, check the prices, and read the reviews.

It's also worth signing up for your favourite retailers’ newsletters as this may give you early access to deals.

Stay tuned on social media

Brands often announce deals to their followers on social media. If you really want to get that pair of jeans or that vacuum cleaner at a bargain price, stay tuned not to miss when the discount is launched as it can be way before day X.

Bargain prices on a good quality item don’t last and the products sell out quickly.

Set up online accounts in advance

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Open online accounts with your favourite retailers, pre-enter your payment and shipping details and save them to your account so you can complete purchases quickly once deals are live.

Create a wish list

Some brands have ‘wish list’ option where you can easily throw in all the products you'd like to purchase. It will make it easier to see when prices drop, which can be especially useful on Black Friday when big websites will be flooded with deals on things you don't want.

Rather than trawling through every product on sale, you can click into your list to see whether anything you have your eye on is on offer.

Start your Black Friday shopping early

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In recent years, many retailers have launched deals a week or two before Black Friday and last year some retailers ran promotions through the whole of November.

If you're waiting for Black Friday itself to search for bargains, remember the best deals are likely to be snapped up quickly - especially big-ticket items - and some products may already have sold out.

Look at the price, not the 'saving'

Don't assume a deal is worth it just because it claims to offer a big saving. Offers such as ‘was £100, now £50’ often exaggerate the discount you're actually getting.

Research your favourite products' price history

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Experts investigated Black Friday deals in 2020 and found that 85% of products in the previous Black Friday 'sales' had already been available for the same price or less in the six months before. So, brands trick us.

There are web tools you can use to check how much a product has actually been sold for previously and see whether the 'sale' price represents good value.

CamelCamelCamel provides price history for products sold on Amazon, whereas PriceRunner has wider market coverage.

Sources used:

- Which?: 'Top 15 shopping tips for Black Friday'

Black Friday: Here's how brands trick us into getting less value for money Black Friday: Here's how brands trick us into getting less value for money