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Biggest sale of the year, black Friday Just a few days away, and you’re probably already seeing discounts everywhere on clothing, tech, beauty products, and more.
As I’ve said before, sales are a great time to buy big-ticket items and Christmas gifts that you were planning on buying anyway – my recent research has shown that most items are likely bargain on black friday Compared to Boxing Day sales. But while there are savings to be made, this is also a time when the urge to spend more is stronger than ever.
“Marketing strategies used during these periods often create a sense of urgency and ‘fear of missing out’ (FOMO), which can reduce consumers’ deliberation time and lead to more impulse purchases,” says Dr Donna Mai, principal lecturer in marketing management at the University of Westminster.
This temptation is only increased by its wide availability Buy Now, Pay Later (BNPL) schemes, argues Dr Mai.
“BNPL reduces the psychological barrier to spending by separating the act of shopping from the financial impact of payment,” says Dr. Mai. “As a result, consumers may purchase items they would not normally purchase, or spend beyond their financial means.”
What is Buy Now, Pay Later?
You’re probably already familiar with plans like Klarna and Clearpay, but if you’re not, these plans are forms of credit that enable you to make instant purchases and pay them back over time. Many of these services are interest-free, which is part of the appeal.
Obviously, I’m not telling you to avoid BNPLs altogether, as they can be a cheaper way to access credit. But when it comes to ‘buy now, pay later’ there are several drawbacks that should be kept in mind before using such schemes.
Be careful about overspending
a golden rule for black Friday – and for sales in general – this means you’re only saving money if you’re going to make the purchase anyway.
The same principle can be applied to using BNPL. If you were planning to buy something, using BNPL might help you spread the costs, but seeing that Klarna or Clearpay is available won’t motivate you to make a purchase.
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Before you checkout, ask yourself: Would I still buy this if BNPL wasn’t available? “If you can’t pay the full amount upfront, it could be a warning sign that the purchase doesn’t fit into your budget,” says Dr. Mai.
Keep track of your repayments
One reason why people love the ‘buy now, pay later’ option is that you can stop thinking about the financial impact of your purchase. But, of course, this is just throwing garbage on the road.
Dr. Mai recommends limiting the number of BNPL services you use at once and keeping track of how much you pay: “It’s easy to submit multiple payments at once. A simple spreadsheet or Budget The app can help you keep track of due dates and total amount owed.
Missing payments can affect your credit score
It is important to ensure that you will be able to afford your BNPL payments. Missing these can result in additional fees and interest, which add up quickly and can hurt your credit score.
Dr Mai says: “Work out whether repayment will comfortably fit into your finances over the next few weeks, including rent, bills and everyday expenses. If making installments means cutting back on essentials, it is better to stay away from it.”
Although many black Friday With sales advertised as limited-time offers, it’s better to make an informed decision you’ll feel good about – Dr Mai suggests waiting 24 hours: “If you still want the item the next day, and can repay, you’ll know it was a rational decision rather than in the heat of the sale.”
Buy Now, Pay Later Not Regulated Yet
Right now, BNPL is unregulated, which means consumers have fewer options if things go wrong. This is worrying because, according to Dr Mai, those most at risk of using BNPL irresponsibly are those who are already vulnerable, such as low-income people and those already in debt.
However, this is sure to change when new rules come into effect from July 2026. BNPL firms will need to check affordability, provide clear information about the risks involved and provide additional consumer protections if things go wrong.
For more ways to save during sales season, check out my black friday shopping tips