Posts Tagged ‘stationery’

Counting down to those Black Friday sales?

13/11/2018

It seems that everyone is counting down the days to “Black Friday” sales.

According to the Reserve Bank, consumer debt currently stands at R1.7-trillion, with a study by the World Bank revealing that about 25 million South African adults owe money.

We would like to ask our listeners to avoid getting  caught by sales gimmicks and false discounts. Remember to plan for the necessities  for  the  months  ahead  like  your  rent, bond, food and transport.

Do not get yourself into unnecessary debt.

Some advice from the National Credit Regulator:

  • If it is on sale and you buy it on credit, remember that interest and fees will push up the price. Therefore, cash is king for sale items.
  • Don’t spend what you don’t have this  means  do not  live  beyond your  means and don’t buy if you haven’t budgeted;
  • Set a realistic budget of what you can afford to spend at the beginning of your Black Friday/Christmas shopping and stick to it;
  • Don’t shop in a hurry, without a plan and place everything on your credit/ store card;
  • Plan carefully and pay particular attention to your budget, especially bearing in mind the additional expenses that come with the new year;
  • Have  a  shopping  list  to  avoid  buying  unnecessary  items if you don’t need it now, chances  are  you  may  never  need  it. So  a void  wasting  your  time  and  hard earned money
  • If  you  want  to  begin  the  New  Year  in  a financially  sound  position, be  aware  of  how you spend your money during this period and save for the New Year;
  • Do  a  budget  for  the  festive  season  which includes all  debt,  rent,  electricity,  water, insurance, transport, gifts, school uniform, stationery, entertainment etc;
  • Don’t blow your bonus on treats. Spend Wisely and rather pay off your debts;
  • Shop around for specials and compare prizes; Spend wisely tomorrow and during the festive season and enjoy a financially relaxed and  peaceful  new  year.

Remember  that  if  you  choose  to  ignore  your  budget  and break the bank on Black Friday or max out your credit cards for festive shopping you may be headed for a bleak 2019.

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