![](\"https:\/\/i0.wp.com\/radioislam.org.za\/a\/wp-content\/uploads\/2024\/11\/black-friday.jpg?w=1080&ssl=1\")
<\/p>\nRabia Mayet | rabiamayet@radioislam.co.za<\/p>\n
20 November 2024<\/p>\n
4-minute read<\/p>\n
<\/p>\n
\u201cLimited offer!\u201d \u201cHurry while stocks last!\u201d \u201cAmazing Deals!\u201d Most of us are familiar with these marketing catchphrases that drive us to \u201cimpulse buy\u201d, that ignites our urge to splurge and puts the fear of missing out into us, especially when it comes to Black Friday.<\/p>\n
While there are a few Black Friday deals that are amazing, there are also many scams that people are getting caught up in. According to Shakira Nalla, an accountant with a passion for financial literacy, there are ways to resist FOMO and impulse buying. Shakira advises starting off with a budget and sticking to it, to reduce financial strain. From a month or two before the sales begin, make a list of items you want with the regular price attached and keep track of price changes, so that when Black Friday rolls around, you can calculate how much you are saving on the item. Nowadays, Black Friday specials start early and extend over a period of time, so don\u2019t rush to buy an item you\u2019re not sure you might use. Apply the 24-hour rule where you sleep over your decision to remove emotion from the equation, allowing you to think more clearly. \u201cIf you can\u2019t pay for it twice, you can\u2019t afford it,\u201d says Shakira. Avoid browsing and unsubscribe from promotional e-mails. Use \u201ccash or debit only\u201d because if you\u2019re buying it on credit and not factoring in the hidden costs, you aren\u2019t saving. Have an accountability partner who knows your financial goals and keep you in check.<\/p>\n
When shopping online, be wary of scams by making sure that the website is a secure website, and not clicking on phishing links. Enable two-factor authentication on your accounts. Avoid public wi-fi and use a virtual card instead of an actual one. Keep an eye on your bank account to ensure that no unauthorized transactions are occurring.<\/p>\n
Deals on household essentials can be maximized in the month of November, and you can save now to eliminate higher costs at a later stage. A smart strategy when buying on Black Friday is to \u201chave an over-spending fund\u201d so that you don\u2019t go beyond your budget and avoid debt as loans from banks are full of \u201chidden costs\u201d.<\/p>\n
Common traps by marketers include door-buster deals, hidden shipping costs, bundle deals, buy-now-pay-later, FOMO buy-ins, and 3-for-2 deals. Overspending can have a huge impact on a person as it causes anxiety when trying to overcome infatuation, it can cause a strain on your relationships and on your health, and it can put you into debt.<\/p>\n
Women who are financially literate are at an advantage when it comes to Black Friday. Due to the escalating cost of living, it is essential that they have an understanding of the financial situation within their homes. They should also understand the importance of saving, budgeting, and investing in savings so that inflation does not eat those savings away. Shakira has initiated an empowerment journey to educate women via social media by helping small businesses understand the finances and the economics of their venture, helping them put money aside for themselves, budget, save, structure their income and spend so that the two are in balance. Shakira also feels that kids need to be educated on saving, avoiding instant gratification, and teaching them the value of money.<\/p>\n
For the full interview, listen to the New Horizons program with Faaiza Munshi.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rabia Mayet | rabiamayet@radioislam.co.za 20 November 2024 4-minute read \u201cLimited offer!\u201d \u201cHurry while stocks last!\u201d \u201cAmazing Deals!\u201d Most of us are familiar with these marketing catchphrases that drive us to \u201cimpulse buy\u201d, that ignites our urge to splurge and puts the fear of missing out into us, especially when it comes to Black Friday. While […]<\/p>\n","protected":false},"author":33,"featured_media":93599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[215,6430],"tags":[],"class_list":["post-93598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faaiza-munshi","category-lifestyle"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/radioislam.org.za\/a\/wp-content\/uploads\/2024\/11\/black-friday.jpg?fit=237%2C212&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pc0QIf-olE","jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-05-04 21:36:32","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/93598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/comments?post=93598"}],"version-history":[{"count":0,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/93598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media\/93599"}],"wp:attachment":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media?parent=93598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/categories?post=93598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/tags?post=93598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}