Shop Smart & Mindful This Black Friday & Cyber Monday


 

Black Friday and Cyber Monday have become a retail phenomenon in South Africa, promising big savings. But it also comes with a hidden cost: more debt. The lure of a 50% discount can be like a dangerous siren call, and if you're not careful, you might just deepen that financial hole you're in. On top of that, the sudden surge in Buy Now Pay Later services has further blurred the lines between spending cash and accumulating new debt.

 

If you are already seeking a debt solution in SA, your goal should not be just saving money - you also need to rebuild financial control, one decision at a time. So this year, treat the sales season as an opportunity to be mindful, smart, and financially conscious.

 

Use reputable e-retailer websites

 

The Consumer Protection Act in South Africa gives you solid rights, but these can be useless if you fall victim to a phishing scam or a fly-by-night business. When doing your online shopping, always verify that the website address is correct and secure (look for the "padlock" icon on your web browser's address bar).

 

Remember, scammers are experts at offering "instant credit" or "easy loans" during the sales period. Watch out for online offers that seem too good to be true, because most likely it is. A legitimate retailer will not push you into instant, unvetted debt. Applying for new retail credit alerts credit bureaus, and may compromise your financial health in the long run. Stick to your budget, not easy credit.

 

Delivery options and costs are the hidden debt

 

You might make the mistake of overlooking the cost of delivery, handling, and insurance at the height of your shopping rush. Be wary of exorbitant shipping fees; the savings you thought you made might suddenly go down the drain. Always factor in the final price before calculating your "savings." If the delivery time is extended, then ask yourself if the immediate gratification is worth the debt, or if you could use the waiting period to save the cash instead. Always be mindful that for a sustainable debt solution in SA, every cent counts.

 

Comparing deals: a sustainable debt solution in SA

 

Everyone is quick to compare the percentage off, but truly smart South African consumers compare the long-term cost. Suppose there are two similar discounted items: the first one is from R2000 to R1500, and the other is from R1800 to R1400. It is easy to think that the first item is the better deal because it offers a bigger percentage discount. A financially mindful consumer, however, will choose the second item as it results in a lower final debt amount (R1400 vs R1500). This core mindset is necessary to achieve a long-term debt solution in SA.

 

Protect your banking details

 

High-volume periods are a happy playground for scammers, and they thrive during those hours. Criminals can open accounts in your name if they get their hands on your financial and personal details, leading to defaults and judgments that can severely damage your credit score.

 

The NCA empowers you to ask for a free credit report from every credit bureau once a year. You should take this service and check for suspicious activities after Black Friday and Cyber Monday.

 

Enjoy shopping without losing your financial footing

 

Black Friday and Cyber Monday can win you some good deals, but only if you practice financial discipline. The best savings that you can still make during this season is the saving of your financial peace of mind.

 

If the stress of debt has taken out your ability to enjoy the festive season, we're here to help. At FindBetter, we will review your debt situation to work out a feasible debt solution in SA.

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