A finance expert has shared the one mistake you should avoid this Black Friday, as it can make you ‘worse off’.
Shops and online retailers have already started offering discounts and deals on much of their stock, despite Black Friday officially falling tomorrow (November 29). From clothes to technology, plenty of items can be found at reduced prices both on the day itself and in the weeks surrounding it.
But many of us fall for a trap that means we could end up with less money overall. Taking to TikTok, content creator Louis (@louis_wb_) revealed the “biggest Black Friday mistake” that “99% of people” make year on year.
“You can see up to 90% [off] in sales,” he explained. “However, the biggest mistake on Black Friday is, people buy stuff that they don’t actually need or [didn’t want] in the past.
“Instead of saving yourself money, you’ve actually made yourself worse off by purchasing that product that you didn’t need or want anyway.”
He then shared advice for those hoping to snap up some deals on the big day. “Make a list of stuff that you want now,” he advised. “If it goes on sale, fantastic.
“You save yourself some money. But don’t buy outside of that list.”
People were quick to comment on Louis’ video, with one person writing: “On top of that, some businesses raise their prices in increments in the months leading up to Black Friday. Not even a real discount.”
“Literally bro, ” Louis responded. “Absolute jokers.” “So true,” chimed in another user.
UK shoppers are projected to spend a staggering £3.8billion over the Black Friday weekend this year. That figure doesn’t take into account the many deals that are already on offer, as well as those which will remain available after the end of Cyber Monday.
Another financial expert shared similar advice on Instagram, advising followers that they likely wouldn’t regret not purchasing items in the sales as much as they thought they would. “Realisations that will set you free and save you a fortune,” Emma Edwards of @the.brokegeneration said. “That deal you think you’re gonna regret not taking advantage of: you won’t regret it nearly as much as you think you will.
“Lots of very smart people have documented the regrets of the dying and [in] not one of them does it say, ‘Didn’t take advantage of 30% off site-wide on Black Friday.'”