Consumer journalist Wendy Knowler shares how NOT to do Black Friday
Consumerwatch’s Wendy Knowler shared some sage advice on the eve of the monstrous shopping spree we call Black Friday.
Some advertised Black Friday savings are grossly overstated, but clearly there are indeed great bargains to be had on Black Friday and, more recently, in the weeks leading up to it.
But there’s a wrong way and a right way to do BF.
READ MORE: Tips for stokvels amid Black Friday frenzy
The right way: Decide what high-ticket item you want to buy earlier in the year and put off buying it until BF, saving for it in the meantime, and comparing the prices across retailers so that you can spot a genuine bargain.
Then pounce on that item, at the special price, and ignore all the rest of the "BUY ME, BUY ME!” noise that goes on around this retail festival.
The wrong way: Don’t save in advance, don’t do your homework, so you have no idea whether that claimed “40% off” is genuine or not; get caught up in all the hype, and on impulse buy stuff you don’t need on your almost maxed out credit card - without first checking that the site you’ve landed on is a reputable, safe one.
LISTEN: Beware of violence ahead of Black Friday
Fail to grasp that if you’re buying on credit, any “saving” will probably be wiped out by the interest you will pay in the coming months.
Here’s the sobering reality - according to Michele Dickens of credit bureau TPN, almost one million unsecure credit agreements - credit cards, store accounts, furniture accounts, etc, are six months or more in arrears.
Put another way, 20% of accounts - valued at R43 billion - are severely delinquent.
READ MORE: Expert tips to help you avoid being scammed this Black Friday
Those people really should give BF a very big miss!
If you aren’t experienced at shopping online, this is a very high risk time to be doing it. Far safer to venture out to an actual store.
Take a listen as she shared more tips on the upcoming Black Friday with Darren, Keri and Sky:
READ MORE: Consumers warned to approach Black Friday with caution
Contact Wendy
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