Since Black Friday made its way across the Atlantic it is no longer just a day and this year deals are expected a week or two before the day itself which is the 24th November and lasting until Cyber Monday on the 27th November and perhaps beyond. There may be some great bargains but there are also some dangers. It’s very easy to get caught out by online scammers, there may be a temptation to overspend and many deals may not be as great as they first appear!
A Which? magazine investigations found that in previous years more than 90% of Black Friday deals were the same price or cheaper in the six months before the sales event. Whilst other research showed that purchase scams jumped by around a third compared to the usual monthly average. Just Credit Union has put together some hints and tips to help you avoid getting caught out.
Don’t get caught out by fraud
Black Friday sees a frenzy of deals and discounts but also a huge rise in fraud! Please don’t get conned, here’s some KEY actions you can take to stay safe:
- Research the seller to check they are genuine and avoid those with poor ratings
- Stick to trusted websites, and look out for the green padlock next to the web address in your web browser’s URL bar – this means it’s a certified retail website
- The web address should start ‘https’ not just ‘http’ – the extra ‘s’ stands for secure, and means you can trust it with your financial details
- Don’t click on any links or attachments in emails you’re unsure about
- Keep your PIN, passcode and passwords a secret – don’t ever share them
- Avoid entering your card details on shared and public computers
- Always log out after shopping online – and save a record of your purchase
- Remember “If a deal looks too good to be true, it’s probably a fraud!”
Make a list and stick to it
Plan ahead and make a list of items that you really want and target them on the day. This will also help you avoid overspending and getting side-tracked by offers on products you don’t want or need. Remember however good the deal if you really don’t need it it’s not a bargain!
Do your research
Some retailers might present their goods as an absolute bargain, but is it really any cheaper than normal? Price-tracking websites like PriceRunner, or, if you’re shopping on Amazon, CamelCamelCamel, track prices over time for specific items, letting you see how much they have fallen, or not, as the case may be. Make sure you shop around and compare prices from a few retailers.
Watch out for hidden charges
Make sure you factor in all the costs. Delivery in particular can easily add up. Watch out for free delivery offers for orders over a certain value. Delivery charges can be minimized by placing items in your online shopping basket and only buying them when you’re sure you won’t buy anything else from that site. That way, everything will be grouped in one delivery, and it’ll cost you less.
Don’t get carried away
It’s easy to get swept up in the hype of Black Friday, but remember it’s not the last sale day before Christmas. Cyber Monday is when retailers focus their discounts on their electronics products. So if you’re after something gadgety, you might be better off waiting but remember still make sure it really is a great deal. Then there’s always the January sales, too. If you’re buying something for yourself, this could be a better bet, as it can mean even larger discounts once Christmas is over.
Have a budget
However good the deal is have a budget and stick to it. Remember to consider all of your Christmas costs and that you will still have to meet all your  normal household expenses. Ideally you will have saved for Christmas but if you need to borrow make sure its affordable and from an ethical lender. There are lots of Christmas Money Tips in Just Credit Union’s Quick Guide to Christmas Money
If you need to borrow make sure its planned you can compare repayments for amounts and periods that suit you by using visiting Just Credit Union’s loan calculator just visit Christmas Saver Loans.
Be very careful with Buy Now Pay Later (BNPL) schemes they can be very tempting but there are pitfalls and its very easy to get over committed! We have provided some hints and tips on using BNPL
Shop local
Just Credit Union is about supporting our local community and economy and buying from some of the areas brilliant local shops rather than online giants is a great way to get a great deal and support the local economy.
