Savings Expert: How to spot Black Friday smart savings

“It’s easy to get caught up in the excitement of discounts, but don’t let flashy offers distract you from your savings goals. If you’re trying to build a strong financial future, you need to make sure any money spent on Black Friday doesn’t derail your progress. Focus on what matters most to you: if an item isn’t generally necessary or part of a planned purchase, it’s probably best left in the shopping basket.”

“Not all Black Friday deals are created equally. Retailers often hike prices in the weeks before the big day, making so-called ‘discounts’ look more attractive than they really are. To avoid falling for marketing tricks, do your research:

• Track prices over time to make sure the discount is genuine.
• Set a budget and stick to it. If you decide beforehand what you’re willing to spend, you’ll avoid the temptation of splurging on impulse buys.
• Check for voucher codes and cashback offers to maximise your savings when you do decide to buy.
• Use free browser plugins like “ITV Kerching” that automatically find and apply promo codes at checkout.”

“Remember that it’s entirely possible to enjoy Black Friday without compromising your financial goals. One strategy is to save first and spend second. Prioritise your regular savings contributions, whether that’s in a savings account, like an easy access account, or investments, before deciding what you can afford to spend. That way, you’re putting yourself in a stronger position while still taking advantage of deals on items you’ve planned for.”

“It’s worth nothing that Black Friday isn’t the only time to find a bargain. Retailers often offer better discounts in the Boxing Day or January sales. If you’re aiming to boost your savings, holding off until after Christmas can be a smarter choice. And if you miss a deal this Black Friday, there’s always another opportunity - don’t let the fear of missing out lead to unnecessary spending.”

“Black Friday can be a good opportunity to grab a deal, but only if it’s for something that genuinely adds value to your life. The key is to shop with a clear purpose, a well-researched plan, and a firm commitment to your financial goals. In the end, the best bargain is a purchase that doesn’t set you back. We encourage savers to make the most of their money, all year round, through conscious spending and savings decisions.”

Google search trends are UK-specific over a 30-day period and are correct as of 21.11.2024.

Raisin is the world's leading platform for savings and investment products. Founded in 2012, the fintech connects consumers with banks in the EU, the UK and the US. This gives consumers better interest rates and banks a diversified form of refinancing. Our vision is to offer savings and investments without barriers and thus open up the global +140 trillion euro market. Raisin currently employs more than 750 people from over 65 countries worldwide. Today, the platform holds over 70 billion euros in assets from more than 900,000 active customers, which have accrued over 2 billion euros in interest with their investments.