#BlackFriday: 5 smart budgeting tips so you don’t blow your budget on Black Friday

On Friday, November 24, billions of shoppers around the world will be going “bonkers” for Black Friday. While it’s an opportune time to get your Christmas shopping done, it’s also a gateway to overspending before the festive season even begins.

Before you decide to go big this Black Friday, make sure you’ve made provision for all the things you need to pay for before you splash out on all the things you want.

To help you avoid falling into the urge-to-spend trap this Black Friday, and throughout the festive season, here are 5 helpful tips:

1. Budget beforehand – Setting a budget will help you guide and limit your spending. If you’re planning to buy gifts, budget per person so that you know exactly what you can afford to spend on each of them.
2. Compare prices, pronto – During the year’s biggest promotional event, you may assume you’re getting the best prices, but this isn’t always the case. To avoid being duped, do your research before purchasing.
3. Shop smart with your smartphone – Download money-saving and budgeting apps which allow you to set your budget, log your transactions and track your spending.
4. An expensive month is around the corner – Keep in mind that the month when many of us have the least to spare also happens to be a very expensive one, especially for parents who need to pay for school uniforms and school fees.
5. Curb your credit card enthusiasm – So you’ve spent your allotted Black Friday budget and then you see that certain something you can’t live without. Before you reach for your credit card, think about how you want to start the new year… with a clean financial slate or looking at debt management / consolidation options?

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