Martin Lewis warns over Black Friday mistake wasting '100 per cent of your money'

Martin Lewis has issued a Black Friday warning which will see you "waste" 100 cent of your money. The BBC Sounds and ITV star issued a Black Friday memo via Twitter, now X, as Black Friday returned on Friday, November 29 (today).

Money Saving Expert founder Mr Lewis said: "Stay calm today. Use a list, don’t let them tweak your impulse spending nipples. Buy what you need and want not what they want you to buy. My annual Black Friday warning…" He said: "My annual memo - if you were going to buy it anyway and it's half price, then you have saved 50 per cent.

"But if you were not going to do it, and you bought it because it was half price, you have wasted 100 per cent." Research from PriceSpy shows in 2023, 85% of products could either be found cheaper, or for the same price as Black Friday, during other times of the year - 11% of products had what PriceSpy describes as a "fake sale".

READ MORE Drivers who don't press three dashboard buttons in specific order face £2,500 fine

On its website, Money Saving Expert explains: "Don't get caught up in the hype. Before spending, ask yourself, do I need it? Can I afford it? If the answer's no to either, DON’T buy it. Remember, it's not a saving if you weren't going to buy it anyway."

MSE has also delved into whether Black Friday or Christmas sales are cheaper. It adds: "Our impartial research reveals that over two-thirds of 50 popular items were cheaper on Black Friday last year compared to in the lead up to Christmas.

"This means more often than not, if the item you want has a decent Black Friday discount, it's better to buy then rather than waiting to see if it gets cheaper – though of course, there's no hard and fast rule." It comes as the number of shoppers out and about in the UK fell for the second month in a row in November as the later timing of the Black Friday discount spree, Storm Bert and weak consumer confidence depressed sales.

Shopping centres were hit hardest, but the number of visitors to high streets and retail parks also fell with the north-east of England, Yorkshire, Wales and Scotland most affected, according to the latest data from the British Retail Consortium (BRC) and Sensormatic.