Expert tips to avoid Black Friday becoming a dark day for your finances

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Sara-Jayne King

74 days ago
Expert tips to avoid Black Friday becoming a dark day for your finances

- Black Friday falls on 26 November this year and is traditionally a day on which many retailers offer highly promoted sales and discounts

- Annaline van der Poel at Debt Rescue shares some top tips on how to avoid over-extending yourself this year



There's a little over two weeks to go until 26 November and the retail discounts extravaganza known as Black Friday.

Black Friday is traditionally the day after Thanksgiving in the USA, but for the past few years has been celebrated here in South Africa.

But consumers are being warned to beware of the perils of Black Friday and not to overextend on items they don't really need, especially in the run-up to the, often costly, festive season.

Debt Rescue's Anneline van der Poel shares her top tips for ensuring that Black Friday doesn’t become a dark day for our finances?

Distinguish between your wants and your needs:

Distinguish between, 'that would be nice to have' and getting caught up in the excitement.

Annaline van der Poel, New business manager - Debt Rescue

Do your research:

There are some really good specials, but do your homework on what is truly a good price.

Annaline van der Poel, New business manager - Debt Rescue

Beware of using credit to purchase Black Friday deals:

Credit is not free! There's interest attached to that credit that you're taking. It could end up costing you the same, or even more than this reduced sale price is.

Annaline van der Poel, New business manager - Debt Rescue

A recent Debt Rescue survey of 1 000 South Africans, revealed that 86% of women said
that they would participate in the Black Friday weekend, compared to 15% of men.

60% said that they would buy their goods on credit, to avoid missing out on a good deal.

RELATED: Is there still time to save for the festive season? Yes, says financial expert

This article first appeared on CapeTalk : Expert tips to avoid Black Friday becoming a dark day for your finances

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