Most Aussies have been saving up to spend on Black Friday

More and more Australians are starting to plan their shopping around sales events, with 74% saving up to spend on Black Friday, according to Power Retail.

This represents a 16% increase on last year’s figure.

As one of the most anticipated shopping events this year, Black Friday tends to bring with it heavily discounted items, making it an obvious goal for many money saving-focused people.

Finding good deals is top of mind this time of year, and according to the report the average minimum discount shoppers will accept is $32.

However, the real takeaway is perhaps that shoppers are planning ahead in order to save, no matter what that saving is.

Saving money at sales might be a good savings goal

If you’re wanting to be a better saver, cutting down on what you spend isn’t a bad place to start.

Here are 4 tips to help you use sales season to your advantage this year and reach your savings goals:

1. Make a wish list

It’s okay to be wishful sometimes, even if it’s for socks. Write down everything you need to buy, from everyday items to gifts. Having a clearer picture can help you see where there might be areas to save.

2. Create a budget

If you stick to your list, and then a budget, you’re off to a flying start. Be realistic with your budget. Make sure it covers your need-to-haves first, your nice-to-haves second.

3. Compare sales

An item that is 15% off on one site might be 30% off on another site, so take the extra time to compare deals that might save you even more.

4. Consider a different brand

If you need a red jumper for Uncle Ben and the one you wrote down is 10% off but another brand is 30% off, consider switching brands. Uncle Ben won’t know, and you’ve just saved yourself some money.

Once you’ve saved all that extra cash following the holiday sales period, you’ll need somewhere to park it. A high interest savings account can be a great place to keep your money and also give it a boost with a top interest rate.

Check out some of the top interest rate savings accounts Mozo tracks in our database below, or compare savings account providers.