Guest : Sebastien Alexanderson

Consumers should ask themselves the following before spending money on Black
Friday.
*** Is this person a want or a need. Did I need it before it went on sale?
***If the purchase adds a few hundred rands more to my credit and retail card
installments every month, could that money not be better spent on paying off existing
debt?
***Will the extra money used to repay a credit purchase on Black Friday not be better
utilized on food, transport, electricity, school fees?
“Every rand saved helps. Be careful not to succumb to the retail advertising hype and
madness and plan for Black Friday”
***Decide on how much you can spend on Black Friday and stick to that amount.
***Working backwards from that amount - make a list of those who you wish to buy
holiday gifts for and determine how much you can spend on each person
***Look for bulk special on necessities like food and toiletries.
*** Stick to the amount you have budgeted for. If an impulse buy crops up – take
something off your existing list.
*** Start checking and comparing prices of specific products ahead of time to know that
you really are getting a special/ bargain on Black Friday..
*** Try and save as much cash ahead of Black Friday and avoid maxing out credit and
retail cards
*** Do not take out micro and personal loans to purchase goods on Black Friday
***When buying on your credit card or using funds from an overdraft orl oadn, take the
interest rate and repayment amounts into account and weight it up against the “saving”
you are getting on an item.
BOTTOMLINE: If you didn’t need it before Black Friday – you don’t need it on Black
Friday.