Black Friday, with all its mind-blowing specials can seem like a shopper’s paradise. However, if you are not careful, it is your budget that will be blown away.
Black Friday is an American invention that South Africans have embraced wholeheartedly with specials that often last for the whole weekend, not only Black Friday. This year, the day falls on Friday, 25 November and soon retailers will start bombarding us with their Black Friday offers.
With so many special offers available – in stores and online – the temptation to buy more than your personal budget allows, will be strong. And when everyone around you is on a mad shopping spree, the fear of missing out (FOMO) can be real, which is neither good for your mental health nor your bank balance.
Here’s what you can do to keep your budget safe:
If the answer is yes, then getting those items on Black Friday is a win. You probably already budgeted for them and now, instead of paying full price, you get to keep some rands in your pocket.
However, if your answer is no, the retailers have got you. When you buy something on Black Friday that you didn’t plan to buy in any event, you’re going outside of your budget. You’re using money you intended to spend elsewhere, which could either mean you can’t spend as much on groceries or going out this month, or you’ll exceed your spending limits. Neither is a good option.
Never go bargain hunting just because it’s Black Friday. Rather focus your savvy-shopper skills on the things you were planning to get already. In this way, Black Friday can put you in the black instead of the red, and reduce your financial concerns instead of adding to them.Go back