Experts say strategic planning, early gift buying and smart rewards use can turn Black Friday into a long-term financial win.
Black Friday has arrived and while the promise of big discounts is exciting, it’s easy to get caught up in the frenzy and overspend.
Instead of falling into the trap, use this opportunity to make your money work smarter. With preparation, you can maximise the savings to cover Christmas gifts and even back-to-school needs, Niresh Gopichand, Atlas Finance risk director, said.
“Black Friday is not just about finding the best deals, but about planning ahead for the season that follows.
“With a strategic mindset, you can leverage these savings to ease the pressure of the festive season and the infamous ‘Januworry.’ Think of it as not just buying for now, but securing peace of mind for the months ahead.”
How can you turn your Black Friday into a financial win? Here, Gopichand shares seven ways to do so:
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#1: Set a budget and stick to it
Start with a clear spending plan. Knowing how much you can afford to spend will keep you from falling into unnecessary debt. Use apps or tools to track your spending in real time.
#2: Think ahead: gift now, save later
Use Black Friday deals to buy Christmas gifts early, which helps you to avoid the festive season rush and inflated prices. Plan your shopping based on sales trends and lists of items you know loved ones will need and appreciate.
#3: Score school supplies early
Many Black Friday deals include school-related items. Grab stationery, uniforms or even hi-tech equipment, like tablets, at a fraction of the price for the next school year.
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#4: Beware of the debt trap
Pay attention to “buy now, pay later” offers. While tempting, ensure you are using these responsibly by calculating how much interest or fees you will pay in the long run.
#5: Leverage cashback and rewards
Look for retailers offering cashback deals or loyalty points. These can provide value long after black Friday is over, helping with future expenses.
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#6: Avoid emotional spending
Do not let the excitement of deals trick you into buying things you do not need. Make a list and stick to it. Emotional spending leads to regret. Stay practical.
#7: Combine discounts for maximum savings
Black Friday offers can often be stacked with coupons or loyalty programmes. Take advantage of this to reduce your costs further, especially on high-ticket items.
“Black Friday is not about indulgence. By planning, making informed decisions and focusing on essentials, you can use this shopping extravaganza to your advantage,” Gopichand said.
