How To Survive Black Friday 2021 On A Student Budget

Is your bank account ready for Black Friday? Here’s how to make sure you have money left for your food shop next week.

You’re probably already cursing at the fact that Christmas (and buying a whole load of gifts) lands right at the end of term, when your bank account is already stretched.

But will that stop you from slightly losing your mind in the Black Friday sales and blowing right into your overdraft? Probably not.

If you’ve landed on this article before Black Friday, then you should be counting your blessings as we’re about to take you through exactly how to make sure you still have money left for some epic Christmas nights out (and your food shop of course).

Here’s what you need to do to budget for Black Friday…

1. Make a list for gift giving

Ever realised last minute that you’ve forgotten to buy someone a present? It’s an awful feeling. To avoid that awkward moment when you realise you’ve forgotten your own mother’s present on Christmas morning, make a list of exactly who you have to buy for.

This will also help you in later steps when you have to split up what you have to spend between the people you need to spend on. Believe us, you don’t want to skip this step.

2. Work out what your total budget is

So, you have your list of friends and relatives, now you have to decide how much you can afford to spend in total. It’s all too easy to get caught up in the awesome deals and overspend.

Limiting yourself to a number based on how much is in your account, how much you need for the rest of term, etc. will help make sure you don’t get yourself into a sticky situation

3. Decide how much to spend on each person

If you’re buying gifts, you need to decide how much you’re willing to spend on each person. You don’t want to go wild on your brother’s present only to realise you now can’t afford that gorgeous party dress you were waiting to go on sale.

This doesn’t have to be the same amount of money per person, it’s up to you how you split your budget between your loved ones.

4. Stick to your budget…

Don’t let the marketing get the better of you. You’ve set a budget for a reason — that’s what you can afford to spend, so stick to it.

Every time you make a purchase, subtract that money from your total so you’re not left with a shock the following week when the money gets withdrawn. This will help you keep an eye on how much you’ve spent on each person as well as in total too.

5. …but give yourself some wiggle room

Sometimes they’re worth that extra £5 to get the perfect present. Don’t be a scrooge, but don’t throw cash at every discount either. Exercise some willpower and common sense here — we believe in you.

It might help to keep a bit of money to one side when working out your budget specifically for these situations, so it won’t matter if you overspend on one or two items.

6. Don’t forget that student discount!!

Seriously, if you’ve made it to Student Beans to read this article and not used a discount, what are you playing at? We don’t spend all our time collating awesome discounts for almost every brand you could ever want just for you to go and pay full price.

We’re giving you deals on top of Black Friday deals, so use them. You may even come away spending less than you budgeted if you’re savvy with your discounts.

7. Don’t overspend on yourself

Absolutely treat yourself — you deserve it. But stick to your budget here too. It’s all too easy to let your eyes wander while shopping for someone else, but stay on track and think of all that extra money you’ll have for nights out and dinner with friends over the holiday.

Give yourself a budget to spend to yourself, have a think about what you really want or need and don’t get caught up in the sale-spending hysteria.

8. Remember not all deals are good deals

Some brands will try and sell you an “incredible deal†that’s actually not really saving you much (or anything) compared to their original prices. The best way to spot these is to start looking at the items you might want to buy before Black Friday.

Check out their current prices and note them down so you’ll be able to see whether you’re actually being given a good deal or not.

9. Overestimate on that budget

Don’t be stingy with your budget as then you’re bound to go over it. Remember, you’ve got to account for delivery costs and that secret santa you’ve unwittingly been entered into with your course mates.

You know that feeling of coming in under budget is going to feel far sweeter than overspending.

10. Don’t let the pressure get to you

Even though we’re focused on the one day, most brands run sales for an entire week and some even have further sales around Christmas. If you’re buying yourself an outfit for a New Year’s party, why not wait until Boxing Day sales?

What we’re saying is it’s not the ONLY sale happening this year. Pace yourself, take a breather and think about what you really need and want to get.

If you get that budget right and stick to it then Black Friday will be a breeze. Don’t get caught up in the floods of deals and the sales hysteria. Plus, you’ve got access to awesome student discounts all year round, so what’s the rush?