How to be a Black Friday winner

Experts say the real victory is resisting the financial traps that drain bank one's account. By Kara le Roux

- Kara le Roux

(Illustration: Freepik)

Every year Black Friday rolls around like a travelling circus. Bright lights, loud promises, a rush of bodies pouring into tents of half-price bliss. By the time the show is over, many shoppers stand among their spoils wondering how bargain hunting became a budget headache.

FNB reported processing more than R5.4-billion through its Speedpoint devices during the 2024 Black Friday period.

Reveal, a consumer-spend analytics company that tracks transactions, recorded a jump of almost 33% in online spend in November 2024 compared with the previous six-month average.

Black Friday may be one of the world’s biggest shopping events, but it works much like other manufactured rituals. The tactics that push people to overspend on roses on Valentine's Day or scented candles on Mother's Day are repurposed to nudge open wallets in November.

Black Friday is a psychological game and the only way to win is to understand the rules to protect yourself and your budget.

Rory Brachner, founder of financial advice platform Doshguide, says a mental reset is the first line of defence.

“Black Friday plays right into our psychology. The 50% off deal still costs you more than you would have spent. The illusion of saving is one of the biggest threats to consistent wealth building.”