Don't shop 'til you drop

BOOSTER: RETAILERS BANKING ON BLACK FRIDAY BONANZA TODAY >>> Make the most of the bargains but remain penny-wise, not pound foolish.

- Ina Opperman

South Africans are expected to spend as much as they can on Black Friday today, no question about that, but how much will they spend?

And while various tailwinds over the past few months made it possible for consumers to have a little more cash to spend, what will they buy?

But do consumers really have the money to spend on Black Friday?

Economist Roelof Botha says they do. According to the Altron FinTech Household Resilience Index (Afhri) the average household is more than 2% better off than a year ago. He compiled the index.

"However, it should be noted that withdrawals via the two-pot retirement system of dipping into pension fund savings played a significant part in the Afhri's improvement.

"Lower interest rates also helped, but more and deeper interest rate cuts are necessary to boost the most important driver of household financial security, namely formal sector job creation."