31/10/2024
Black Friday has grown in popularity over recent years in the UK, with Brits planning to spend an estimated £3.8 billion on Black Friday and Cyber Monday purchases in 2024.
When is Black Friday 2024?
Black Friday falls on the 29th November in 2024, with Cyber Monday following on Monday 2nd December.
Whilst Black Friday can be a great time to purchase something you’ve always wanted at a discounted rate, it can also be a time where people overspend or regret their purchases.
Nine in 10 people who have made Black Friday purchases in the past have overspent by on average by £511.90 more than budgeted.
If you don’t want to regret your Black Friday purchases, take a look at our guide to getting the most out of this upcoming Black Friday weekend.
Do: Your research and list what's important
It’s a good idea to keep in mind how what you buy can benefit you. Black Friday can be a good chance to get something you’re after at a cheaper price, but can also tempt you to buy on impulse.
Be prepared and think about what will benefit you for years to come. If you are tempted by a deal for a product you’ve never thought about or considered before, it’s likely that it won’t benefit you as much as another purchase will, and could land you with buyers regret!
Don't: Get the fear of missing out (FOMO)
Maybe someone you know got a great deal and it’s tempting you to splurge a little bit more.
Consider, do you need it? Will you get use out of it? Don’t let other people’s spending habits influence you to impulse buy.
Everyone has different budgets and needs, but the best way to make sure that you don’t have regret or buy something that may sit around collecting dust, is to avoid being influenced by other people's purchases.
Do: Take control of your spending
It may be a good idea to set a budget ahead of Black Friday and make a plan of what you need. This will help to make sure you don’t spend beyond your budget.
This can also help you head into the Black Friday deals for a product you really need. 38% of people believe they didn’t really need what they bought in the first place.
Don't: Rush into buying anything you don't need
Pressure from limited time offers can make us buy something we don’t need. Take some time to think and reassess if you really need it or you’re just feeling pressured by the countdown.
This is where planning in advance and assessing your budget will help. Whilst a deal may be good, you’ll still be wasting money if it just sits in your house not being used. 7% of people surveyed by Starling Bank have bought something in the sales that they still haven’t opened a year or more later.
Do: Invest in things that are important to you
Will this item still benefit you in a few months time? Will you get the most out of it, or will it become long forgotten?
Investing in something may be much more beneficial, like considering health insurance which can last a lifetime and won’t be a regret.
Policies are suited to your budget and needs, and come with a whole range of benefits including: skipping NHS waiting lists, healthcare bills covered, 24/7 digital GP service, diagnostic tests, gym membership discount and mental health and well being support.
If you’re ready to put your future health first, our expert advisers can offer a free comparison service and advice, with no obligation. Fill in the form below to get a free quote.
