(Afrikaans version.)

Consumers have been advised ahead of Black Friday and the festive season to be wise and focus on spending their money on important items.

This time of year, criminals also step up their efforts to take advantage of consumers in search of bargains. The public should be wary of online scams and avoid deals which sound too good to be true, warned Free State Economic, Small Business Development, Tourism, and Environmental Affairs spokesperson Thabo Meeko.

 Free State DESTEA MEC, Thabo Meeko, Photo: Lucky Nkuyane

Consumers must also plan before spending and work out what they can afford according to their budget. Spend money on needs, not wants, always shop around for the best deals, avoid walking around with cash, and always remember it is within consumers’ rights to reject or ignore any deal or request.

 CreditSmart Financial Services Managing Director Wikus Olivier   

 CreditSmart Financial Services MD Wikus Olivier shared five mindful money recommendations for consumers to follow to make sure they do not overspend during this period:

• Know Your Current Money Situation: Safeguard your financial health and look at the holistic picture of your financial situation. An overall view will allow you to know if you should rather shy away from inviting ‘sales’ this month, entirely, or to what extent you can go (money-wise) to take part in the shopping phenomenon of the year.
• Specify Your Budget Amount: Make sure you have a separate Black November/Friday budget set up before doing any online browsing or outlet visits. Exercise self-control and stick to your allocated budget amount as shopping in the current period is more tempting than ever. Focus on essentials or ‘needs’ and not your ‘wants’.
• Pause Before Making a Purchase: Before committing to buying something, take a minute and ask yourself: “Is this an essential or just something I ‘want’?” and “Am I still within my budget if I buy this item?”
• Duck Black November Retailer Tricks: Know what items cost as this will help you to point out if a ‘sale’ is reflecting an actual discounted deal or not. Remember: Retailers tend to raise prices above the usual asking price and they market aggressively – creating a false sense of urgency, clouding your judgment to do a thoughtless ‘impulse buy’. Overpriced impulse purchases are usually followed by guilt, regret, and even uncontrolled debt.
• The Most Mindful Thing You Can Do is to NOT Spend Money at all: Don’t take part in the consumption chaos if you have not budgeted and don’t want to accumulate extra debt. Over-indebtedness is real and can creep in unexpectedly. If, however, you are already feeling the debt pinch, be #CreditSmart and seek the best-registered solution to help you break free from the shackles of debt.

Meeko said DESTEA through the Consumer Protection Office, together with law enforcement agencies, will be on high alert for those selling fake goods, illicit food, and alcohol.

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