Black Friday is looming just around the corner, and while it’s a wonderful time for finding deals, it can be a tough time for budgets.
The entire holiday can feel devoted to tempting you to overspend. But, here’s a few ways to use Klarna Money Manager to stay within your budget during this shopping extravaganza.
Before Black Friday.
Choose what you want, make a wishlist, decide how much you’re going to spend and then set a budget in the Klarna app. The budget limit won’t stop you from going over. If you surpass it, then it simply turns red, and it won’t block you from buying anything with Klarna.
Why? Using the budget tool is not about stopping you from buying what you want. It’s about developing financial habits like setting limits on your spending.
If you’ve connected your other bank accounts to Klarna Money Manager, you’ll be able to track all your non-Klarna spending as well and keep an eye on your entire monthly budget on one screen in the Klarna app.
Connecting your accounts provides a complete financial overview — you can see the balances from all your connected bank accounts and see a monthly breakdown of your spending.
During Black Friday.
Your budget is set. It’s time to shop. Having a budget during Black Friday allows you to prioritize your purchases. By defining a budget, you can spend your money towards what you need or want the most.
So, you make the most out of your budget, take advantage of the deals for things you want, and avoid overspending on less essential items. You can maintain your focus on what you want, by doing some research in the Klarna app. By searching and comparing prices and adding them to a wishlist to keep your eyes on your prizes.
After Black Friday
It’s done. Take a deep breath, or a nap. Pushing through the crowds on Black Friday or clicking and tapping through Cyber Monday can be exhilarating, and exhausting, so it’s easy to lose track of how much you spent or what you spent your money on.
Take a minute to check your spending in the Klarna Money Manager. It’s broken down by month, so you can tap on November to see your expenses by category — which is done automatically. You can tap a category in your spending breakdown and see individual transactions.
This isn’t about guilt or judgment. It’s about gaining a clear awareness of your expenses and how it fits in your available budget. By checking on your spending after the craziest buy-this, buy-that, time of year, you can reflect on where your money went.
So, if necessary, you can make better decisions in the future or get a confidence boost if you’re already making improved buying choices. Whatever the outcome, this minute or so of checking and reflecting is a valuable habit that helps you take control of your finances.
Beyond Black Friday.
Black Friday and Cyber Monday is a wonderful time to make the most of the deals, whether you’re getting something you need, treating yourself, or doing some Christmas shopping before the December rush.
Setting a budget, using that budget to prioritize your purchases, and reflecting on your spending afterwards are ways you can use Klarna Money Manager to remain in control of your spending during the craziest shopping day.
But these habits are useful anytime of year, and the more aware of your budget and how you’re spending within that budget, the more control you have over your finances.
