You won’t want to discount (get it?) our top tips this Black Friday

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Have you ever spotted a good deal on Black Friday and rushed to snap it up only to regret it hours, even minutes later? Everyone is aware by now that on Black Friday there are deals to be found but sometimes it is better to ask yourself whether you really need to fight the woman next to you for that 55inch TV, Bluetooth toothbrush or Wi-Fi toaster? Could that money be better spent elsewhere or maybe kept aside for the future and put towards something you really want/need? Perhaps  investing your money for 5-10 years could help you achieve a bigger goal? Just a suggestion… However If you are going to dive into the discounts this Black Friday we have created this guide to help you prepare before the pandemonium, like in the video below ensues. Please note that investments can go down as well as up so you might get back less than you paid in.

1. Know what you want and how much you want it for

It seems like an obvious one, write yourself a list of what you are looking for and how much you are willing to spend on each item. You will then be able to easily keep track of every item you need and whether the price is reasonable and within budget when the excitement of the savings kick in.

2. Prepare for the day

Retailers are increasingly using social media to advertise their savings, like your favourites on Facebook and follow them on Twitter and at the same time sign up to alerts. You will then be notified when and what they are posting on your phone so you will never miss any quick flash deals. It is also a good idea to sign up to your favourite retailers email lists a few days in advance if you haven’t already done so.

3. Research prices

It is easy to get drawn in by 50% off signs and items claiming £400 off the recommended retail price but sometimes it’s not all it seems. Consumer group Which? have said that 60% of all items they tracked were cheaper at other times throughout the year ( So make sure you do your homework on prices to see if the deal is as good as it seems,  this is easier to do for online retailers, is a handy website that tracks Amazon prices throughout the year and can tell you when a specific product was at its cheapest.

4. Do your shopping online and pick up in store

There are quite a lot of stores these days that will allow you to do your shopping online and pick up in store. This is particularly handy for Black Friday where you can check out the best deals from the comfort of your own living room and pick up at a quieter time.

5. Get in early and stay late

Black Friday isn’t just one day anymore. Black Friday is a week-long event! Increasingly retailers have been starting to release deals a couple of days in advance or even earlier so keep an eye out in the week leading up to the day itself. Also don’t switch off as soon as Black Friday is over, think of it like a long weekend because you still have Cyber Monday as well for even more online savings.

No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a savings or investment plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting Advisers may charge for providing such advice and should confirm any cost beforehand.