Our money expert ambassadors are here to help
We are lucky to count three brilliant money experts as Ambassadors for our independent charity – Money Saving Expert Martin Lewis, Iona Bain and Rotimi Merriman-Johnson, aka Mr MoneyJar.
First have a look at our ambassador's top money tips and then try our free online tool to help boost your number confidence and skills.
The nation’s favourite Money Saving Expert Martin Lewis is a long-standing ambassador for our charity
Martin told viewers on last week’s Christmas special of ITV's The Martin Lewis Money Show Live programme that Black Friday can be the best time for securing gifts at lower prices.
Having done a study comparing prices of 50 items during Black Friday and pre-Christmas sales, Martin said they’d discovered that 70% items were cheaper on Black Friday, 12% were cheaper pre-Christimas, and the other 18% were equal. “If youre going to be buying before Christmas, at this time of year,” Martin said, “Black Friday is the time that you want to be buying."
But we should also remember Martin’s ‘Black Friday shopping menu’ from last year. It’s a simple way to work out if you really need to splash the cash. Martin said: “If you were going to buy it anyway, and its half price, you've saved 50%. If you weren't going to buy it, but do it because its half price, it's cost you 100%. So be careful.”
If you'd like to test your money mettle, have a go at Martin's 'Baked Bean Challenge' in the video below. Can you spot the worst deal? Martin shows you how.
Iona Bain is a money expert for BBC's Morning Live and a National Numeracy ambassador
Iona has dyscalculia, often called ‘dyslexia for numbers’. She is passionate about helping anyone who struggles with numbers, just like her.
One of Iona top tips for feeling financially confident is: “Hold on to your receipts. In a cashless society, it helps to remind yourself what you are spending money on.”
Our third money expert ambassador is Rotimi Merriman-Johnson, aka Mr MoneyJar
Rotimi helps people get the most out of the money in their pockets. One of his top tips for Black Friday is to think about whether it’s the right time to splurge. Might saving up for that favourite item be a better bet?
Rotimi said: “It’s hard to spend on anything but essentials right now, so plan for purchases by making a wish list and prioritise your favourites. You might need to save up.”
Don't get duped! Look out for 'dark pattern' danger
Black Friday promotion aren’t always as they seem! The Advertising Standard Agency have even banned certain adverts in recent years for using “dark pattern” tactics. This is where retailers draw customers in through ads featuring deals, while hiding important information until you’re further through the purchasing process. For example, there may be fees added at checkout, a sneaky subscription with automatic renewal, or restrictions on what items are included in a promotion.
Stay alert through your buying journey, and don’t rush your purchase. Make sure to check what it is you’re buying or signing up for, and if purchasing a subscription, find out the subscription terms and that you know how to cancel once you want to stop the service.
Good numeracy can be your most valuable tool while shopping
During Black Friday and Cyber Monday we need to be able to spot a fake deal on the fly.
Good numeracy can be more valuable while shopping than any comparison app. If you know your numbers and feel confident to use them in everyday situations, you will be able to see through the often confusing offers.
From percentages and fractions to measurements and quantities, the National Numeracy Challenge focuses on the maths that's genuinely useful in data to day life.
