Black Friday occurs on the last Friday of November and the majority of shops in the UK take part.
It's become increasingly popular over here in the last decade or so, originally originating in the United States, with Amazon raising the profile of the event by slashing prices on many items online.
Since then, the high street and even supermarkets have jumped on the bandwagon in offering massive savings on select products to entice consumers to get a bargain ahead of Christmas.
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Some retailers start offering Black Friday deals from the start of November, giving a whole month of offers; it seems that each year it gets earlier and earlier, much like Christmas decorations and songs being everywhere once Halloween is out of the way.
In previous years due to Covid-19 restrictions, Black Friday was predominately online, but now we see people flock to their local towns to shop the bargains.
It can be difficult to know exactly what is a good deal and where you should look first, so we have put together a guide on how you can take advantage of Black Friday and pick you and your family up some great deals.
Set a budget
It's easy to get sucked into the hysteria of Black Friday deals and get carried away with all the deals that shops have to offer. It's therefore important that you create a budget ahead of time and stick to it.
With Christmas coming up, you don't want to leave yourself out of pocket, and setting a budget outlines exactly what you are prepared to spend so you don't go overboard.
You will no doubt be tempted by deals on products you perhaps don't need or didn't expect to want, and there's no reason why you can't still get them, providing you are sensible.
If you know what you want or have an idea of the shops you want to prioritise, do some research and compare prices ahead of time.
You can get a good understanding of what each retailer charges for particular items so you are a bit more in the know when it comes to buying that item come Black Friday.
You don't want to spend money on an item, only to find out later that you could have saved yourself even more money buying it elsewhere.
So treat this day as you would with any other purchase in life. You wouldn't go with the first energy provider or internet supplier that pops up, you'd do research and try and get yourself the best deal, and Black Friday should be no different.
Don't spend what you can't afford
The deals are enticing, we get that, but this goes back to why creating a budget is so critical in making sure you get exactly what you want out of this day.
Credit cards are great and do exactly what they are designed to do - help you pay for things over a longer period of time.
However, if you already have credit card debt and are needing to use your credit card on Black Friday, the likelihood is you already can't afford to buy what you are trying to purchase.
Using credit cards to an extent is fine, but be very careful that you aren't going over the top as it can be very difficult to shift that debt, as well as cause you issues if you want to buy a house or take out other financial loans.
Click and collect
If you are buying smaller, less expensive items online, the chances are you will have to pay for them to be delivered to you. Some companies offer free delivery if you pay over a certain amount but most will charge you if it's less.
If you are buying online and don't quite hit the mark to get free delivery, don't add extra things into your basket for the privilege, see if they offer a click-and-collect service and go and pick it up from the store.
These are generally free, it just means you have to go into town or to your local shop to pick this up, which might be a pain, but will be worth it if it saves you a little bit extra.
Use social media to your advantage
We are in an age where social media plays a big part in most people's lives; we just can't get away from it which can be a good and bad thing.
When it comes to days like Black Friday, though, it is most certainly a good thing as brands will be putting out ads all over the place in order to entice you to shop with them.
Facebook and Instagram in particular will be awash with ad campaigns set up by most retailers and you can really use these to help you make a decision on what you want to buy and where you want to spend your money.
They can be annoying, don't get me wrong, but if it saves you even more money then it's absolutely worth it.
Look out for uncommon brands
Some retailers will use Black Friday as an opportunity to shift some of their more uncommon brands that perhaps don't sell as well during normal times of the year.
Try not to be sucked in by these and do some research into who these brands are and the quality of the product that they offer.
This is particularly important if you are spending big money on electricals, for example. You want them to last a long time and be fit for purpose and buying cheap could end up costing you in the long run.
Know your rights
If you make a purchase, even on Black Friday - the busiest day of the year for retailers - you are entitled to take back any item you buy in the first 30 days of purchase, according to the Consumer Rights Act.
If an item you have bought is not up to standard then you can take it back and demand a full refund. Just be sure to keep hold of the receipt just in case as some retailers can be difficult to return to without proof of purchase.
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Evaluate the bigger picture
The deals are staring you in the face and you've always wanted that additional iPad for your workout room, but do you really need it? If the answer is no then don't waste your money.
Of course, you have every right to spend your money on whatever you wish, however, if it means you are spending more than you can afford or you wonder if it'll be used in two months' time, then leave it.
Sometimes you have to be tough with yourself and although everyone deserves to treat themselves from time to time if you have gotten by without it up to now, you can probably continue to do so.
So there we have it, just a few tips to help you out ahead of the big day. We hope you make the most of it and get some super cheap deals. Good luck, and happy shopping!