It’s that time of year again when Black Friday and Cyber Monday roll around, showering us with deals we simply can’t ignore. Coming just before the holiday season, it’s easy to get caught up in a buying frenzy that ends up blowing your budget.
With many households still feeling the squeeze, the question is: should you be spending money simply because a special discount is being offered? This isn’t always an easy question to answer, especially when faced with a discount on something that you’ve always longed for.
To help you make the right decision, Mpho Sadiki, Head of Function: Trading Products & Solutions at Nedbank, reveals four times it makes sense to take advantage of special deals.
1. Discounts on necessities
The easiest way to decide whether you should buy a special offer is to ask whether you need this, or simply want it. There’s nothing wrong with wanting something that will jazz up your house or make your life simpler, and paying up to 50% less than usual is extremely appealing. So, if you see something that you want and haven’t budgeted for it, then resist the temptation to spend unless the discount really makes it worth it. Whether that number is 30% or 50% doesn’t really matter, but you need to feel it’s a real steal at the discounted price. The only time it makes sense to consider a 15% or 20% discount, is if it’s something you want and have been saving towards. While not a large discount, this might suddenly bring your dream purchase within your available budget.
2. Get kitted out for the 2022 school year
A purchase that’s definitely worth considering is discounted school supplies and materials. The start of the new year is usually a stressful time for parents needing to pay school fees and a mountain of other costs. You can reduce this stress by using Black Friday and Cyber Monday deals to buy your essentials. Be especially on the look-out for deals on tech and other gadgets your kids will need. These items can be quite costly, and buying them at a discount is good, common sense.
3. Take a (cheaper) break
A break is as good as a holiday, they say. What if your break can be a cheap holiday offered by countless travel companies and destinations at this time of year? Taking advantage of discounted holiday breaks requires some flexibility on your part, if you hope to snatch up last-minute deals to magical destinations. A break from your regular routine could be just what you need to get rested and revived for a new year.
4. Get your holiday shopping out the way
It’s no coincidence that Black Friday and Cyber Monday are so close to the year-end holidays and festivities. Retailers know we’ll be shopping for gifts and make it that much easier to fill the holiday stockings with discounted specials and treats. And now, with so many deals being offered online, you don’t even have to brave crowds or queues to get what you need.