As South Africans get ready for Black Friday, financial experts are urging consumers to prioritise smart spending and avoid taking on unnecessary debt.

In recent years, Black Friday has gradually transformed into a month-long retail period often referred to as “Black November”, with major retailers rolling out extended promotions and, in many cases, smaller discounts than in the past. Shoppers are therefore encouraged to compare prices, check product quality, and resist impulse buying.

Financial commentator Moeshfieka Botha says the key to getting real value lies in planning. She advises consumers to set a budget, track genuine savings rather than relying on advertised discounts, and avoid credit wherever possible.

“Everyone is always excited about Black Friday deals, but the savings are only real if you pay cash or use a debit card linked to your own money in the bank. Any other form of payment that involves interest, like a credit card, only costs you more and leaves you saving nothing.”

Botha says high living costs, interest rate hikes, and increasing debt pressure leave many households with limited room to participate in big sales.

“Black Friday is perfectly positioned for vulnerable consumers, especially at this time of the year to let their guard down and let their emotions take over. Every rand saved helps, but don’t fall for the retail advertising hype and madness, it can leave you spending money you don’t have.”

Botha also cautions that scams surge during Black Friday, particularly online. She urges shoppers to verify websites before entering payment details and to be wary of deals that seem too good to be true.

“Be vigilant for scams, especially online. Make sure the sites you are using are legitimate before submitting any payments. This is also a good time to check your loyalty points and rewards to get even lower prices. Set a spending limit, avoid emotional or impulsive purchases, and don’t use credit to splurge on Black Friday deals.”

 

She emphasises that consumers should cover all essential expenses, including debt repayments, before heading to the shops.

“Make sure that necessities and debt have been paid before spending any money during Black Friday. Yes, we want to stimulate the economy, but not at the expense of our own financial survival.”