If you’re gearing up to splash the cash on Black Friday, this might change your mind: 58% of shoppers during the discount period last year said they would change how they spent their money if they had the chance.

More than two-fifths (43%) of people made Black Friday purchases last year, spending £144 on average, the Aegon survey found.

But some said they would have preferred to have put the money into savings, while others would have rather spent it on a holiday or paid down debts.

Looking ahead to this year’s Black Friday, 43% of respondents said they expected to make at least one purchase, spending £174 on average. Eighteen to 34-year-olds are expected to spend £297, with 35 to 54-year-olds spending £199. 

“Before chasing discounts, reflect on the little experiences, things and activities that make you happy, give you calm or make you feel useful and worthwhile,” Aegon’s Money:Mindshift podcast host Dr Tom Mathar said.

Greg Davies, head of behavioural finance at Oxford Risk, warned the psychology behind Black Friday was the same as the psychology behind poor investing.

“When we act fast and emotionally, we make choices we later regret. The remedy in both cases is simple: slow the moment down long enough to let your thoughtful brain check the impulse,” he added.

Watch: Money live reporter Jess Sharp‘s top tips for Black Friday shopping without getting ripped off