It’s getting easier and easier to spend money without thinking about the consequences these days. Personally, I’m a massive fan of contactless payments but find there’s a disconnect between me tapping my phone or debit card on a reader and the impact it has on my bank balance! It took a few months of WTF moments before I curbed the needless spending on my accounts. That being said, there’s still room for improvement! I’m hoping that the lessons I’ve put in place with my daughters will mean they have a head start on financial literacy!

Black Friday sales have become a huge draw. As high street shops compete for our attention against the more agile, competitive internet retailers, the amount of shops participating in the Back Friday madness has grown. Scenes of shoppers body checking each other in order to grab the last widescreen tv would have shocked us a decade ago, but now it’s what we come to expect from media coverage of the Black Friday sales.

It’s tempting to get your Christmas shopping out of the way during the sales. Perhaps treat yourself to something special whilst you’re out shopping too. There’s no harm in that if you do it right. What you want to avoid at all costs is bringing your account into the red in order to feel you’ve secured some bargains! Nobody wants to get into debts over Christmas. Let’s not have Black Friday sales be the reason your December and January are financially bleak. After all, what would be the point in having a new killer wardrobe if you can’t afford to actually go out in it?

As someone who has experienced all facets of finances, from being financially flush to living paycheque to paycheque, I have learnt my fair share of tips on finances. Here are some useful tips on keeping your accounts in the black over the Black Friday Sales.

Don’t feel obliged to take part

Seriously. There is no pressure to buy ANYTHING in the sales just because they exist. There will always be a sale. I say this first and foremost before I even delve into my budgeting tips. This to me is the most important.
If you know that you’re not in a financial position to buy things. Don’t. If you know you’re shopping to fill an emotional void. Don’t. If you’re buying clothes three sizes too small as a way to guilt-trip yourself into getting into better shape. Seriously, just don’t.

Check your account and plan your budget

Black Friday isn’t the time to be putting your head in the sand when it comes to your finances. Check your account balance. Know your income and expenditure and make an informed decision about how much you have available to spend. Write it down and make yourself accountable to that amount. No excuses. No, oh but that deal is just too good to miss!

Do your research

Find out what the different price offerings are from various retailers. Just because one shop is offering 40% off a product, doesn’t mean it’s the best price. Check the net and find out the best possible price for the product you want to buy.

Write a list of needs and wants

This Black Friday, know the difference between the products you actually need and those that are just nice to haves. Prioritise your needs over your wants and even within your ‘needed items’ prioritise those you need the most and buy those first.

Shop online to prevent impulse purchases

You might find it easier to avoid impulse buying if you stay clear of the brick and mortar shops and visit their online counterparts instead. This way you have less temptation and can focus on ticking off the items on your list. Some retailers offer online only Black Friday deals so you may find yourself in luck by shopping this way too! Avoid the crowds, the overpriced car parks and the crushes. Plus, you can use free services such as Honey to make sure you’re getting the price on the items in your shopping basket ass it automatically tries discount codes its scoured from across the internet for you!

I hope these tips help you stay financially stable over the Holiday period. Let Black Friday be the sale that saves you money on the items you need or have coveted, not that sets you up for months of debts! Remember, no bargain is worth getting into debt for. Do you have any other tips you’d add!? Drop them in the comments below!