Surviving Black Friday
This Friday is Black Friday, a huge shopping event which sees people all over the world getting discounted products as retailers' slash prices.
Before you head out the door this weekend with a strong cup of coffee, some patience for crowds and comfortable shoes, plan ahead with these five tips to keep you and your money safely on budget, says Elzita Beukes, FNB communications manager.
1. Decide how much to spend. Experts agree that a good rule of thumb is to allocate no more than 1.5% of your income for holiday expenses, including big-ticket items like flights and travel expenses, not just gifts.
2. Write it down. Whether you prefer spreadsheets or compulsively making lists put your plan in writing. That includes at least a rough outline of who you plan to spend on and how much you plan to spend. Keep your plan with you either on your phone or in a notebook - so it's easy to reference while you shop.
3. Significant others. Keep your budget within reason by agreeing to a spending limit ahead of time. You may also consider going in on a joint gift, or experience, you'll both enjoy, rather than purchasing separate items.
4. Be safe. Keep your money, debit and credit cards, purchases and receipts close. Be aware of your surroundings when entering passwords at the ATM or cashier. And don't leave your purchases in plain view in your car.
5. FNB Rewards. Make a little extra this December by earning cash back with FNB Rewards when swiping for your Black Friday purchases, using your FNB debit and credit cards. You can also earn cash back by purchasing airtime on cellphone banking, online banking or the FNB App; or filling up for fuel with an FNB credit card. Cash back rewards will be paid into your linked Savings Pocket for you to use whenever, and on whatever you please this holiday.
“The most important way to ensure that you're taking advantage of Black Friday is to plan ahead. Make sure that you work out a specific budget to avoid entering the new year with more debt and regrets,” said Beukes.
1. Decide how much to spend. Experts agree that a good rule of thumb is to allocate no more than 1.5% of your income for holiday expenses, including big-ticket items like flights and travel expenses, not just gifts.
2. Write it down. Whether you prefer spreadsheets or compulsively making lists put your plan in writing. That includes at least a rough outline of who you plan to spend on and how much you plan to spend. Keep your plan with you either on your phone or in a notebook - so it's easy to reference while you shop.
3. Significant others. Keep your budget within reason by agreeing to a spending limit ahead of time. You may also consider going in on a joint gift, or experience, you'll both enjoy, rather than purchasing separate items.
4. Be safe. Keep your money, debit and credit cards, purchases and receipts close. Be aware of your surroundings when entering passwords at the ATM or cashier. And don't leave your purchases in plain view in your car.
5. FNB Rewards. Make a little extra this December by earning cash back with FNB Rewards when swiping for your Black Friday purchases, using your FNB debit and credit cards. You can also earn cash back by purchasing airtime on cellphone banking, online banking or the FNB App; or filling up for fuel with an FNB credit card. Cash back rewards will be paid into your linked Savings Pocket for you to use whenever, and on whatever you please this holiday.
“The most important way to ensure that you're taking advantage of Black Friday is to plan ahead. Make sure that you work out a specific budget to avoid entering the new year with more debt and regrets,” said Beukes.
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