I read an article a few days ago on the importance of saving and putting money away so as not to overspend on Black Friday and the festive shopping season. Although I don’t remember the exact recommended percentage we should be saving, I do remember thinking that it was quite a large percentage of one’s salary.
In an ideal world, everyone would be able to stash away some cash for a rainy day but the reality is that most South Africans are barely making ends meet and the assumption that there is a discretionary income left after everything has been paid is very ambitious and frankly rude!
And so, as I agree that splurging on unnecessary items is a waste of our hard-earned money, I do think that taking advantage of the Black Friday deals on items we do need could work in our favour.
Are Black Friday deals real?
The answer is yes, for the most part, at least. You are likely to find big discounts on Black Friday as retail stores compete with one another to give consumers the best price and bring in the most profit.
Here are tips to make the most of the Black Friday bargains:
Research the products you want to buy beforehand:
It pays to do the research; do not buy a product or brand that you’re not familiar with just because it’s cheaper than its competitors.
The hype around Black Friday and pricing can be misleading and exaggerated, but with a little bit of investigating, you’ll find out if you really are getting a good deal or if the product has had the same price tag for the last six months.
Avoid temptation and shop online:
You’re more likely to purchase on impulse when shopping in-store; avoid the shops and make online purchases instead.
Keep your eyes peeled for price-matching:
Many retailers have a price-match policy where they are willing to match a price offered by a competitor and, in some cases, will even discount the price.
Set a budget and stick to it:
Have a budget and be realistic about how much money you can afford to spend, and then stick to your budget to avoid overspending.
‘Tis the season for shopping wisely.