WITH CHRISTMAS JUST around the corner, all of us will be looking for as many bargains as we can. Enter Black Friday.

Set to take place on 28 November this year, Black Friday is a day when virtually every retailer slashes their prices, making it very tempting to start throwing your cash around. However, for the sake of your finances, it’s best to take a strategic approach to the sales.

An Post Money has partnered with financial advisor Paul Merriman, CEO of AskPaul, to provide expert advice on how you can make the most of Black Friday discounts without jeopardising your household budget. 

“Black Friday isn’t bad, it’s just easy to get caught up in it,” says Merriman. “If you plan ahead, stick to your budget, and use the right tools like An Post Money Manager, you can absolutely make the most of it without derailing your finances.”

“At the end of the day, smart spending is about being in control, not cutting up your cards or never treating yourself, but knowing when a deal is actually worth it.”

Read on for more Black Friday financial advice from Paul.

Black Friday has become a phenomenon in recent years. Does it make financial sense for people to spend money on Black Friday while discounts are active?

Black Friday has really taken off over the last few years. We see it everywhere: emails, ads, social media, you name it. It’s easy to feel like you’re missing out if you don’t buy something.

But here’s the thing: just because something’s discounted doesn’t mean it’s a good deal. If you needed that item anyway and can get it cheaper, then brilliant, that’s smart shopping. But if you’re spending money just because “it’s on sale,” then you’re not actually saving anything.

Think of it this way: if you wouldn’t buy it at full price, you probably don’t need it at all.

Discounts and deals can seem like a great idea. Are there pitfalls that come with Black Friday deals? What should people keep their eyes peeled for when it comes to making good choices?

Retailers are clever. They’ll use countdown timers, “only 2 left in stock” messages. Don’t fall for the pressure.

A few quick checks before you buy:

Compare prices: See what it cost last week or on another site. 

Check reviews: Some low-quality or fake products flood the market during Black Friday.

Stick to your list: Decide in advance what you’re shopping for and stay focused.

If you walk away with things you planned for, that’s a win. If you end up with random bits that seemed cheap at the time, you’re just cluttering your house and emptying your wallet.

What are the best tips for shopping safely online, avoiding scams and using credit cards the right way?

Black Friday is also prime time for online scams. Scammers know everyone’s in a hurry to grab a bargain, and that’s when mistakes happen.

Here are a few quick safety tips:

• Only buy from trusted websites. Look for “https://” and the little padlock icon.
• Avoid clicking links from emails or social ads. If it looks too good to be true, it probably is.
• Keep an eye on your statements. Spot any dodgy activity early.
• If you’re ever unsure about a site, walk away. No deal is worth losing your money or your data over.

What resources are available from An Post Money to help people monitor their spending and keep it in line with their budget?

Here’s the key to not regretting your Black Friday spending, knowing exactly what’s coming in and going out.

An Post Money Manager is a great tool for this. It lets you:

• See all your accounts and cards in one place
• Track your spending in real time
• Set budgets and alerts so you don’t go overboard
• Spot any unusual transactions quickly

When you have visibility like that, you can enjoy shopping without the stress of wondering how much you’ve actually spent.

What kind of rules should people set for themselves when spending on Black Friday?

Before you even open your laptop or head to the shops, set some ground rules:

• Decide your total budget and don’t go a cent over.
• Make a list — only buy what’s on it.
• Don’t buy on impulse — if you’re unsure, sleep on it.
• Pay off any credit card spend before the next bill.
• Track everything — small purchases add up fast.

It’s not about saying “no” to Black Friday. It’s about saying “yes” to deals that make financial sense.

To learn more about how to budget with Money Manager, visit the An Post Money website.

Manage your finances this festive season with An Post Money Manager. A free budgeting tool helping you track your spending, set budgets and control you finances, across all of your accounts. 

Terms & Conditions apply. Money Manager is provided by An Post in conjunction with Tink. Tink is a payment Institution authorised by the Swedish Financial Supervisory Authority to provide account information services.