NEVER go into debt to shop
No matter how great the deal may be, it’s never worth it to go into debt to buy something at a sale. Unscrupulous lending agencies will try to rope you in by offering ‘advances on your salary’, etc. Stand strong. Don’t fall for it. Live within your means and reap the rewards in the long run.
Choose how much you can spend (and stick to it!)
If you do have some liquidity in your household budget and would like to take advantage of a few good offers, be sure to decide how much you can spend before you hit the shops, or log on to do some online shopping. Find your spending limit and stick to it no matter what.
Use Black Friday to stock up on home essentials
Many supermarkets and stores offer lower prices on lifestyle essentials like soap, toilet paper, shampoo, toothpaste, canned goods, pasta, rice, etc. that can be stocked up for the rest of the year. Take some time to work through the advertising supplements before you get in the queue on Black Friday and use this opportunity to cut down on your grocery bills for the year ahead.
Research big ticket items (a LOT)
If you are tempted to invest in a big-ticket item like a fridge or a TV, make sure to do your homework before you buy. Check what the prices would be ordinarily, and how the special offer might affect any warranties, etc. When you make a big purchase like this, you want to know that you are not being duped into buying an inferior product, or that you won’t benefit from the same after-sales support you’d be getting at full price.
Don’t get swept up in the mayhem
Mob mentality is a real thing. When you’re in the midst of the buying frenzy that ensues in most stores on Black Friday, it can be easy to get swept up in a ‘buy buy buy!’ mentality. Stay clear-headed and make sound purchase decisions. If you feel that this is something that might trip you up, try shopping online, or rather don’t tempt yourself this year and spend your day sans shopping.
Following these guidelines will allow you to benefit from the special deals offered by South African retailers on Black Friday, without wreaking havoc with your finances. Keep an eye on the blog in the coming weeks and months for more expert insight into all things budget-related. In the meantime, feel free to reach out to a member of our Libertine Consultants team to find out more our debt services and credit services. We are here to help you pave the way to a more prosperous futur