Here's how your money can work for you on Black Friday

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South Africa Headlines News

In just more than a week, South Africans will have the opportunity to potentially score bargains on their favourite items.

Nicolette Mashile has offered some top tips on how consumers can make their money work for them on Black Friday. November 29 is Black Friday, and while this can be an exciting time, financial vlogger and entrepreneur Nicolette Mashile has advised consumers to exercise budgetary caution and consider carefully which items are worth spending that hard-earned money on.

Items retailing at a “lower price” than usual can tempt people to spend more than they planned, and that can be detrimental to the consumer's finances. Mashile advises consumers not to buy more than they need, such as items in bulk, no matter the low cost. Instead, she advises that they look at what bargains they can get on day-to-day items. She says that way, they are making their money work for them.

On Black Friday, some retailers are willing to sell items on credit. Consumer will start paying for these in the new year. “Stick to what you've planned and ignore retailer tactics. Some of the Black Friday deals we're seeing now are 'buy now and pay in 2020', but what happens to the interest you'll be charged? It will accrue for the next couple of months and all of a sudden you will owe them more,” she warned.


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