Avoid the Black Friday hype.

Certified financial planner Marietjie Oosthuizen provides some tips to help you spend and save wisely and avoid the trappings of Black Friday.

  • Plan ahead. Research products that you are interested in buying and compare!
  • Look for the best deal and avoid compulsive spending.
  • Remember to budget for the months ahead (e.g. school fees).
  • Don’t withdraw your savings for items you don’t need.
  • Do not overspend or buy unnecessary items on credit.
  • Consider whether your purchases will actually benefit your usual monthly budget.
  • Look for hidden costs on purchases – for example delivery fees.
  • If you did save money consider investing your extra funds left over.
  • If you did overspend, work out a recovery plan to get back on track as soon as possible. If you did buy on credit try settle this as soon as possible to avoid high interest rates.
  • Working with a trusted financial planner can help you avoid or fix some of these concerns.