Budgeting for Black Friday | Our Tip Tips to Keep Your Spending in Check
It's that time of year again, and whether you're a Black Friday lover or hater, there's no denying how easy it is to get caught up in the excitement of this national holiday - and potential overspending!
That's why, on this monumental day for shoppers everywhere, we've compiled our best tips to help you make the most of the big day without breaking the bank.
So keep on reading for our top tips on how to 'Black Friday proof' your budget this November!
1) Create a Plan (And Stick to it)
First and foremost, create a budget for the day that you MUST stick to.
It's essential to have a clear plan when shopping for items that you genuinely need. Start by making a list of those items and then decide where you plan to purchase them. Do you want to shop online or on the high street? If you choose to shop online, be careful of pop-ups, promotion emails, and app notifications that can quickly lead you astray. It's always better to search for the best deals ahead of time so that you're even more prepared. A detailed plan will help you stay focused and avoid getting sidetracked with offers on things you don't need.
2) Beware of Your Spending Triggers
It's crucial to recognise our own personal triggers for emotional spending. It can be far too easy to give in to temptations and buy things we don't actually need because of the fear of missing out (FOMO) or getting a good deal - and the retailers know this all too well!
Similarly to how we are advised not to shop for groceries with an empty stomach, it's best to avoid browsing for the latest deals when feeling stressed or emotional. If you need some extra help actually identifying your spending triggers, check out our blog post on the importance of money triggers so you don’t make any impulse purchases you’ll later regret.
3) Shop Small If You Can
If possible, consider making an effort to shop at small businesses this Black Friday. This will not only prevent you from getting carried away with flash sales and the tempting next-day delivery options, but it's also often the more sustainable choice. Last but not least, you'll be helping out the small businesses in your local area more than the big brands - a win-win!
Check out these great tips from GreenMatch on how to make your Black Friday shopping more eco-friendly this holiday.
3) Download the ImageNPay App for Easy Budgeting
If you want to take extra precautions to avoid overspending this Friday whilst using a sustainable payment method, a prepaid digital card could be for you.
With ImageNPay, you can only spend what's available on your card - making it much easier to stick to your budget and prevent overspending. And with our recently updated Transactions feature, you can track your purchases easily within the ImageNPay app through our "My Transactions" screen to make sure you're not going overboard. Your transactions are automatically categorised to help you stick within your Black Friday budget.
Click here to discover our other App Features that can help you manage your finances this Holiday Season.
ImageNPay is available to download on iOS and Android for free, so what are you waiting for? Tap the button below to download the app and find out for yourself why ImageNPay is the perfect budgeting tool to keep your spending in check this Black Friday!