I am a sucker when it comes to Amazon Black Friday Deals and Prime Day; I always buy stuff that I blatantly don’t need because it’s a ‘great deal!’ so I thought I’d ask the lovely Fanny Snaith, a Certified Money Coach right here in Gloucestershire, to offer up some top tips to get the most out of Prime Day without feeling guilty – or poor!
Hello! My name is Fanny and I am a money coach promoting conscious spending and consideration of long-term financial security. Flash sales are fantastic at sabotaging our efforts to keep on track so I’m here to help you enjoy Amazon Prime Day responsibly!
Here it comes again – hold onto your hats! The Amazon Prime flash sale is upon us. Amazon Prime Day starts at 00.01am on Monday 15th July and will last for exactly 48 hours.
With its free unlimited next day deliveries, Amazon Prime is a lifesaver for many a new parent, stuck at home in desperate need of replacement nappies, bottles or the next gadget that will help them soothe their baby! In the UK, the annual £79 per year subscription also gives you access to Amazon Prime Video, Prime Music and Prime Reading. You can also get early access to certain Amazon deals.
Each year Amazon runs Prime Day, a huge flash sale open only to Prime members. All prices are kept secret until the day as a great way of whipping up excitement. Last year Amazon users spent more than £3.3 billion in 36 hours, so here’s a few practical tips to reduce the potential damage to your bank balance!
Go in prepared!
The first saving might be NOW – if you get a wriggle on! If you are not already an Amazon Prime subscriber, you may be able to sign up to their 30 day-free trial which will give you full access to the sale. If you don’t want it afterwards, then you can cancel before the trial is up – make sure you do or you’ll be charged! If you’re not a member but another member of your family is, then you can use Amazon Household to share the benefits. That’s a nice £79 saved, or perhaps you could split the cost?
Amazon actively encourages you to download their app and turn on notifications to avoid any FOMO that might creep in. Will you download it? I suggest that you think carefully before you do. Tapping apps can make it a little too easy to make unnecessary purchases on a whim. Especially when it comes to our children; we love them so much and want them to have everything and more…. But let’s face it – buying stuff for our little ones can be addictive!
Don’t just rush into the sale without a plan. You’ll be destined for an empty wallet! Have a good think about what it is that you need. If you’re an expectant parent, it could be the ideal time to bag a bargain for your new baby, but make sure you do your research first so that you can go into the sale knowing exactly what it is that you’re after. Perhaps it’s that pram you’ve been saving up for, or an Echo Dot so that you can ask Alexa to turn the lights on for you when you’re stuck under the baby! If you know what it is you want in advance, then you can bag that bargain if and when it appears. Of course, you might be tempted by similar looking products that are for sale – but make sure you check out the reviews and make sure the deal is actually as good as it seems. Sites such as Huffington Post and Money Saving Expert have teams scouring the web for info they can feed to us before Monday – no doubt the list will include pushchairs, cots, nappy bins and clothes.
Just by looking at the amount we spent last year – a staggering £3.3 billion in 36hrs, it is very clear that we are ready to flex the credit card. Before you do that this year, ask yourself the following and consider the answers very carefully:
Shall I Buy Questions
I recommend printing this section out and attach it to your pc, phone, laptop or wherever you “buy” from.
- Did I want this item before it was in the sale?
- Have I researched this product thoroughly?
- How much am I saving? Use Amazon’s UK price checker Camelcamelcamel to see – it gives you previous prices listed on Amazon.
- Have I done a price comparison outside Amazon? (The Google sale is on too!)
- Has it been price matched anywhere else – where I might get a further discount?
- Can I afford it?
- Do I really need it?
- How much will I use it?
- Is the money better used for something else?
I am a big fan of happy spending. That means that every purchase is made with a happy heart, guilt-proofed by research and avoidance of panic or rushed buys. Guilt creeps in when the purchase is not made fully consciously – so be conscious!
If you think that you’ll be tempted to make rash purchases, take some time now to remove the pre-filled credit card details from your devices. Take your credit card from your wallet or purse and put it somewhere where you have to really think before retrieving it – the loft maybe? If that’s too close, try freezing it in a tin can of water (use a tin can so that you can’t defrost it in the microwave) to give you more thinking time! See, I’ve thought of everything!
If, however, you have wanted something for ages but have not been able to stretch to the asking price, then now is the time to see if that item is reduced enough to fit your budget. If it does and you have asked all the Shall I Buy Questions and the answers lead you to the purchase then go ahead and do it! Smile about it and feel good about it! Post it on your Facebook and tag me in so we can celebrate it with you!
Thanks for reading, if you would like to know more about me and money coaching please visit my website www.fannysnaith.com and maybe take the money type quiz to find out what whether your are a spender or saver. You might also like to join my Facebook group – the Money Mastery Club where we are all keen to get in control of our money and become financially free. Here is the link: https://www.facebook.com/groups/MMasteryClub/.
I hope you embrace Amazon Prime day happily and consciously!
If you’d like to receive more useful blog posts like this straight to your inbox, subscribe using the form below: