How to navigate Black Friday

The end of the year has arrived and there are numerous adverts encouraging you to part with your hard earned rands.

While it is a good time to shop around for a bargain or two, it is also very easy to get caught up in the hype and fall into the trap of overspending.

So, make your mantra for this month, No, I am not going to overspend!

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Here are tips to help you navigate Black Friday:

Define your budget: Have a look at how much you can comfortably afford this season without having to buy on credit. Be cautious – it will stand you in good stead later. Once you have determined your budget, stick to it, do not get swept in the hype of the silly season.

Make a list: The question you ask here is what do you really need? This may be a good time to stock up on stationery for the kids or some non-perishable groceries. You can start looking at buying festive season gifts or birthday presents for the year ahead. But remember to stay within your budget.

Do your research: Do your research on how much that item normally costs. Then compare that to the discounts being advertised – to ensure that the price is really discounted. This is a vital step in the process to make sure that the bargain that you are getting is actually a bargain.

Use loyalty or rewards programmes: Use your loyalty and rewards programmes to your advantage, look at where you will get the maximum benefit.

Investigate warranties and return policies: When buying technology or appliances, ensure you understand the full terms and conditions of the warranties. Also, if you are buying presents or clothing, check the return policy and if there are any time limitations.

Shop safely: Ensure that you are shopping safely and securely this time of year. Either shop online using your Virtual Card on trusted websites or swipe your card instead of using cash. Remember not to give anyone your pin or your online banking details.

• By Ester Ochse, product head at FNB Money Management

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