A financial expert has warned shoppers about a common mistake that can leave you ‘worse off‘ this Black Friday.
Shops and online stores have already begun offering discounts on a wide range of products, even though the big day officially falls tomorrow (November 29). From fashion to tech, a swathe of items are available at reduced prices – not only on the day itself, but also in the weeks leading up to it
However, many of us fall into a trap that could result in us being financially worse off, according to one self-styled finance guru. TikTok content creator Louis (@louis_wb_) highlighted the “biggest Black Friday mistake” that “99% of people” make annually. “You can see up to 90% [off] in sales,” he said.
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“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 suggested what shoppers could do instead, ensuring they don’t part with cash unnecessarily. “Make a list of stuff that you want now,” he suggested. “If it goes on sale, fantastic. You save yourself some money. But don’t buy outside of that list.”
Louis’ video quickly garnered comments, with one person noting: “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 replied. “Absolute jokers.” “So true,” another user agreed.
The Black Friday weekend alone is set to see UK shoppers splash out an astonishing £3.8billion. With this in mind, an Instagram financial guru advised followers that missing out on impressive-sounding deals isn’t as regrettable as it might seem.
Emma Edwards of @the.brokegeneration posted: “Realisations that will set you free and save you a fortune,” adding, “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.”
She continued: “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.'”