Taking place on 26 November and 29 November this year, an increasing number of retailers are offering discounts on a range of goods.
To make the most of these sales, it’s important to be prepared.
Black Friday and Cyber Monday can be the perfect time to snap up some purchases you know you’ll have to make in the future, such as Christmas presents. But before you start spending, take some time to work out what you can comfortably afford.
Our budget planner can help you see where your money’s going, and what you may have left over to spend.
You may also find that giving yourself a spending limit will help you decide what to buy – or not buy.
If you have the HSBC Mobile Banking app, you’ll get a notification when you spend on your card. You could use this to keep tabs on your spending to make sure you don’t go over your budget.
If you decide to use a credit card for any purchases, remember that you'll have to repay anything you spend. You may also be charged interest if you carry debt from month to month.
If you prefer, you can use your debit card to help you limit your spending and keep within a budget.
After you’ve worked out what you can afford to spend, look at what you actually need. It’s easy to get swept up in all the offers, so deciding what you want to buy beforehand can help stop you needlessly spending.
To make the most of your money, you may want to try setting spending limits on certain items. Or you could look to prioritise what you need. That way, you’ll buy the most important things before you blow your budget.
Not every shop will be holding a Black Friday or Cyber Monday sale. So if you can, do some research beforehand. You may want to:
see who’s participating – many shops advertise that they’re taking part before the day arrives
look at what discounts participating stores are likely to have
find out where you can get the items you need – knowing this may give you a better chance of purchasing them before they run out of stock
sign up to newsletters – they may give you a preview of sale items or offer specific discount codes
compare the prices of items to make sure you’re getting the best deal
Be aware of purchase scams this Black Friday. These are when you pay for an item or service and it doesn't arrive and your money is lost.
Some Black Friday scams may:
have limited availability or special discounts that appear too good to be true
put pressure on you to send payment before seeing goods, often using less secure means such as a bank transfer
use safe sites when shopping online
research the retailer to make sure they, and the offer, are legitimate and check their cancellations policy
Paying by credit card offers greater protection than other payment methods. If you buy an item costing more than £100 and less than £30,000 on your credit card (even just part of it), your purchase may be protected under Section 75 of the Consumer Credit Act 1974.
Explore: Fraud prevention guide
If you’re looking to buy specific items, like a mobile phone or laptop, you may want to consider taking out insurance. This can protect your items against a range of unforeseen events, such as theft or damage.
If there are a few different items you’re wanting to protect, multi-cover insurance may allow you to tailor your insurance to your needs.
For example, with HSBC Select and Cover, you can choose at least 3 options, including gadget insurance and mobile phone insurance. You’ll need to be an HSBC UK customer who’s registered for online banking to apply for Select and Cover.
If you already have insurance, it’s a good idea to review your policy when buying potentially high-value items, such as tech or jewellery, to make sure you have the cover you need.