(Updated 22 November 2023)

Black Friday 2023 – How to Avoid Overspending

Black Friday Sales

It’s officially Black Friday, are you tempted by discounts retailers are giving? Nobody wants to pay for Christmas in 2024, so don’t go overboard with your Christmas budget. Come January you’ll be facing your debts, as well as a long wait until payday. Read our guide on Black Friday on the best way to shop smart. 

What is Black Friday?  

Black Friday is the biggest day of the year for discounts, and usually falls on the last Friday of November running until the following Cyber Monday. However, in recent years retailers have been expanding their discounts and choosing to get their discounts out earlier to get more sales from customers. This is why some people refer to the sales period as ‘Black November’. It means businesses are not limiting their Black Friday sales to one day and discounts are running for 10 days or more. It started in America but has been adopted by the UK too after Amazon introduced their Black Friday Sales in 2010. 

Can I Save Money Buying Black Friday Deals?

The buzz of irresistible discounts is hard to ignore when your emails and social media are filled with marketing messages encouraging you to spend. While you can get significant discounts on items you may want or need, it’s wise to set yourself some rules to avoid spending more than you have and getting carried away. 

Our Top Black Friday Tips 

Follow these rules to spend sensibly or avoid spending on Black Friday: 

  1. Do your research on items – Check what price they have been historically on www.pricespy.co.uk
  2. Write a list of items you want or need to buy. 
  3. Shop around – Different retailers will offer different discounts that may be more beneficial for your planned purchases. 
  4. Unsubscribe from marketing emails and social media that could encourage spending unnecessarily.  
  5. Avoid credit cards and buy now, pay later – We know the dangers, it may seem savvy to spread the cost, but they are known for causing financial risks, with some users falling into debt as a consequence.  
  6. Set a budget for items you want to buy. To find out more about budgeting, read our guide here. 

Beware of Buy Now, Pay Later

14 million people in the UK have used buy now, pay later in the last 6 months. Some people may find it easy to spread the cost with Klarna, Clearpay and PayPal in 3. However, if you’re thinking of using it for Black Friday and Christmas, be wary. Buy now pay later can be a dangerous option and a slippery slope to more debt.  

Read more about the risks of buy now, pay later schemes here. 

Black Friday Debt Advice Before Christmas

While there is an opportunity to potentially bag yourself some bargains and save in the run-up to Christmas, it’s good to remember that it can lead to overspending and feeling swept up in grabbing a bargain without thinking rationally about what you can afford. If you feel like you’ve gone over your Christmas budget and as a result are in financial difficulty, get in touch with us for free no-obligation debt advice.  

Don’t have an account with us and are looking for debt advice?

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Angel Advance provides online debt advice to get you back on track and make your finances more manageable.

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