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Black Friday - Why you should avoid it
#1
Don't be fooled by all the hype to get you to buy things you don’t need and spend money that you don’t have.
 
Scanning the Internet, hearing Black Friday jingles, and seeing social media come alive with Black Friday alerts? Whatever you decide, here are some ideas to help you have the best Black Friday ever.

While the news of massive sales will get you through the shop door, the rest of the products in-store might not be such a bargain. When you later realise how much you’ve overspent, you’ll have to deal with Sad Saturday and a gloomy Rest-Of-The-Month.

The good news is that this doesn’t have to happen. You can shop better to live better.

Here are some tips to help you separate the myths from the facts so that Black Friday doesn’t turn into Bleak Friday.

Black Friday myths busted

You can’t beat Black Friday prices
False. Christmas is around the corner and retailers have a month left to lure consumers into their shops with attractive deals. On Black Friday, stores have so-called doorbusters – those are the big discount deals being advertised to get you into the shop – but the discount on the majority of the products is much smaller.

It’s a once-off opportunity for consumers
False. If you think Black Friday was planned for your benefit, think again. It is intended to get you to spend money. Retailers were not thinking about the struggling-to-make-ends-meet-family and decided to be nice. They want to sell their goods and it won’t be at a loss.

I’m top of the trend
False. Not even close. The trend is to declutter and move towards simplicity. Buying things won’t make you happy. In fact, every new piece of clutter, technology or clothing you buy can add to your worries because it is something that can be stolen or damaged. The more things you have the more money you also need to spend on insurance and maintenance.

The Facts

This is not your last or best chance for shopping
Don’t let it become an excuse to buy things you don’t really need and spend money you don’t have. Think it through and be smart. What will really benefit you?

High sales days are also highly profitable for thieves
The increase in people withdrawing cash at ATMs means there is a higher risk of cash theft and card swapping. Rather use your card for purchases. You pay zero fees, and don’t have to carry large amounts of cash.

Source: Capitec Newsletter
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