Martin Lewis issues warning to anyone who's made a Black Friday purchase today

Martin Lewis has issued a warning to anyone who's made a Black Friday purchase today. The BBC Sounds podcast host has warned shoppes not to get “caught up in the hype” as prices drop for the weekend ahead of the Christmas rush.

The 52-year-old ITV star said: “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.” He said: “Then when it comes to Black Friday, you’ll know if the ‘discounts’ are really cheaper.

"Check prices at the retailer you were planning to buy from, and do a wider price comparison using free tools, such as Google Shopping, PriceRunner, PriceSpy and the Amazon price-tracking tool CamelCamelCamel.”

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He said shoppers could save an average of 10 per cent more, rather than waiting on any last-minute bargains. When asked when is the “optimal” time to buy gifts, the Money Saving Expert founder said that 70 per cent of items were cheaper on Black Friday, 12 per cent were cheaper on pre-Christmas sales and 18 per cent were equal.

“So if you’re going to be buying for Christmas, Black Friday is the time to be buying,” he said. Mr Lewis went on, adding: “I know it gets bad-mouthed but if you get the right item and it’s something that you needed, it is the time to buy.”

When asked about gift vouchers, the money guru warned he was “not a fan” adding: “Obviously, Amazon is very unlikely to go bust but if a local restaurant is giving gift vouchers, there is a real risk with that." He said: “The best gift voucher for me?

"It’s about this big, it’s flappy, it’s foldy, it’s got a picture of the Queen or soon to be the King on it, and it’s cash because it’s flexible and you can use it anywhere. I’m not a fan of vouchers unless it’s a big firm that isn’t going to go bust and you know when the use-by date is.”