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SALE! DISCOUNT! DEALS! BLACK FRIDAY! BLACK NOVEMBER! CYBER MONDAY!

November is the new December and retail mania is here (Pandemic? What pandemic?)

There will be lots of deals, Black Friday is great IF you planned and budgeted for it.

Africa Melane asked Certified Financial Planner (CFP) Gerald Mwandiambira what to consider before pouncing on a deal.



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Before you bite off more than you can chew, consider that much uncertainty still exists regarding the nascent economic recovery.

Will a second wave of Covid-19 infections kneecap our economy once more, or will we avoid the fate of so many other countries that are suffering yet again?

We just don’t know, so it’s best to chase deals only if you have surplus cash.

Mwandiambira reminds “consumers” to look out for financial deals as some banks and insurers also have offers ahead of Black Friday.

It’s literally become ‘Black November’…

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

If you didn’t plan to spend, stay away because you’re going to be lured by the marketing… Play Black November with caution… you might end up in debt…

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

Remember, on these Black Friday specials, retailers get rid of stock…

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

If you can get a premium reduction on insurance, those are the specials you should look out for…

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

It’s a heavy year… Do you really want, in a year like this, to be splashing money… when there’s so much need in South Africa?

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

We’re still anticipating a second wave of Covid-19… Rather budget and prepare… spend on something you would normally spend on… Stay away from non-recurrent expenditure… Buy stationary… Electronic gadgets may not be wise, especially in a year like this.

Gerald Mwandiambira, Certified Financial Planner - Sugar Creek Wealth

Listen to the interview in the audio below.

This article first appeared on CapeTalk : Black Friday: Tips on ACTUALLY saving money (versus 'saving' yourself broke)

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