Spend wisely this Black Friday

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Black Friday is just two days away but it’s important for consumers to exercise caution and self-discipline when managing their money over this period. According to FNB Programme Manager of Consumer Education, Dhashni Naidoo, a lack of financial discipline around Black Friday can easily lead to financial troubles particularly in these challenging times.

Naidoo expresses that you can avoid getting into financial distress over Black Friday by not only planning your budget but also being honest with yourself on what you can afford.

“Do your research ahead of time as you need to know exactly what you want to buy and determine the price of those goods upfront. Buy only what you need and not because something is on sale,” he says.

Naidoo also discourages the use of debt to buy luxury goods. “Consumers should remember that credit incurs interest. Also if you’re tapping into your long-term savings or emergency saving funds, this suggests that you may not afford to be spending on Black Friday,” he explains.

In these tough economic times, we need to be more prudent and stricter about our spending habits. Just because something is labelled cheaper on Black Friday doesn’t always mean that you must buy it,” Naidoo concludes.

Nomaqhawe Mtebele

nomaqhawe@mahareng.co.za