It’s the biggest shopping event of the year and with shops offering discounts here, there and everywhere, shoppers up and down the country are ready to do some serious spending.

Yes, Black Friday is almost here and while it is an opportunity to make some big savings before Christmas and snap up some bargain deals, shoppers are being urged to manage their money carefully. Black Friday always takes place on the fourth Friday in November, which this year falls on November 29, and is widely considered the start of the Christmas shopping season. The shopping event traditionally always centred around electronics, giving shoppers the chance to bag bargain prices for tech products like TVs, laptops, gaming consoles and home appliances, but nowadays, discounts are applied across a huge variety of products.

But while it’s a chance to wrap up some Christmas shopping, financial experts are urging shoppers to set a budget before hitting the sales as the average household is expected to spend a whopping £299.

Chris Rudden, Head of Investment Consultants UK at digital wealth manager Moneyfarm, said: “Britons are expected to spend nearly £14 billion this Black Friday weekend, £4 billion more than last year.

“Many households are using the discount period to make big purchases and start Christmas shopping early, with the average spend rising to £299. While this shows confidence, it also highlights the need for careful planning.

“Even in a season of discounts, financial wellbeing should remain the priority. Black Friday is not about buying everything or avoiding every deal. It is about balance. Setting a clear budget and making mindful choices allows you to take advantage of genuine savings without compromising your long-term goals. Spending with intention is the foundation of financial security.

“Whether you choose to shop or sit it out, make sure every decision fits into a bigger plan that supports both your present and your future financial ambitions.”

The advice comes as consumer watchdog Which? found that eight in 10 products advertised as Black Friday deals are actually the same price – or cheaper – at other times of the year.

Which? compared prices on 175 home, tech and health appliances from Amazon, AO, Argos, Boots, Currys, John Lewis, Richer Sounds and Very for six months either side of Black Friday last year to find that 83% were cheaper or the same on at least one other date outside of the four-week sales period. On the day of Black Friday itself, there were no deals at all that were at their cheapest of the year.

Which? said its findings show that shoppers shouldn’t feel pressured to rush into buying anything on Black Friday, as they’re likely to still find a competitive price before Christmas, or in the January sales if they’re willing to wait.

Which? Retail editor Reena Sewraz said: “Our research exposes the harsh truth: for the majority of shoppers, Black Friday is a false economy. Retailers are relying on hype and urgency to push products that are the same price, or even cheaper, at other times of the year.

“There are good deals to be found but they can be few and far between. Our experts sift through thousands of deals every day during the sales to hand-pick genuine deals on products we think are worth buying. Our advice is simple: take your time, don’t be fooled by clever marketing and do your research.”