How to make the most of Black Friday
It pays to do some planning so you don’t end up buying more than you need, or spending more than you have, because you can’t resist those bargains.
Are you waiting for Black Friday and Cyber Monday to do your festive season shopping?
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It pays to do some planning so you don’t end up buying more than you need, or spending more than you have, because you can’t resist those bargains.
“Shoppers tend to get carried away with festive season shopping and it doesn’t help that the Black Friday weekend starts on payday for most people.
“It’s important to plan your purchases carefully so you don’t buy more than you need.
“What’s critical is that you purchase what you can afford and that doesn’t mean spending everything you have,” said Cheslyn Jacobs of TymeBank.
Jacobs, who is an avid saver, shares tips on how to shop wisely over the Black Friday weekend.
• Have a game plan.
A budget is the most important part of your game plan.
Decide how much you can afford to spend in total. Break it down and stick to the plan.
It’s also important to allocate sufficient money to pay for your January expenses.
Spending is inevitable, but overspending is avoidable and saving is achievable.
ALSO READ: How to navigate Black Friday
• Plan your gift purchases ahead of time.
Before shopping, make a list of who you want to gift and what you want to get them.
Try to limit gifting only to the people who are the most important in your life such as close family and friends.
Start looking for gift ideas ahead of time and use Black Friday to help you get ahead of the festive frenzy, choosing personalised gifts that won’t break the bank.
• Do your research.
Find real bargains by searching online and comparing discounts on similar items from different stores.
This means you spend less time and money in the mall trawling the aisles.
Researching online has become so common that all brands should be displaying their wares to their prospective customers before they walk into their stores.
• Don’t forget Cyber Monday.
If you can’t face the prospect of fighting the crowds for special deals, online shopping is the way to go.
While most online retailers offer Black Friday specials, look out for Cyber Monday, the online equivalent of Black Friday.
As with in-store shopping, it’s important to do your research and get onto shopping sites early.
ALSO READ: Black Friday – What to expect
• Shop safely
It’s not just mugging and pickpocketing that you need to worry about, make sure you don’t become a victim of cybercrime and online breaches.
• Take advantage of deals on essential items.
Gifting aside, use this time to look for discounts on household essentials like toilet paper, toothpaste and cleaning products.
This can help you save money on everyday expenses throughout the year if you buy in bulk.
• Keep track of what you spend.
It’s easy to be tempted to spend unnecessarily by limited offer deals and buy more than you can afford.
Use a notebook or a budget-tracking app to keep note of what you spend.
Remember, if you earn a salary, it needs to last until the end of January. Spend wisely during this period to avoid getting into a black hole that could start 2023 on the wrong note.
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