It is that time of the year when prices of items drop lower than saggy jeans, Yes it is Black Friday!
This sales craze has its origins in the United States and it kicks off the Christmas season where retailers have sales on items so that we, the consumers, can buy items at more affordable prices as we gear up for the Festive season. Despite the insane discounts we may be tempted to spend more than we can afford on individual or total items. Interestingly sellers have employed some ingenious tricks to make you spend more than you may have intended.
We are here to guide you with a couple of tips that can help you not get outsmarted by retailers and get the best value for your hard-earned money on Black Friday.
1.) Do your research on the best deals
The fact that there is a sale on an item does not mean that that is the cheapest price available. It’s crazy how retailers trick us with things like”Half off” signs to think that that is a low price when they may have even doubled it. So before shopping for an item online or in physical stores tembea kidogo and see what others are offering for the same item. You may end up saving a lot.
2.) Make a list and a budget
Before you purchase anything make a list of what you’d like to buy. Whether it is Christmas gifts or things you have been wanting for yourself, make an exhaustive list along with estimated prices and draft a budget. This will give you so much clarity as you shop and will help you avoid impulse spending.
3.) Stick to the budget
It is one thing to make a budget but sticking to it needs all your mental toughness. You make your budget then open Jumia and see Gilbeys 750 ml at 399/= and become thirsty. Have the discipline to stick to the budget and shake of the impulse. You’ll be fine just drink water.
4.) Mind the extra costs
As you budget ensure you keep in mind delivery fees. Factor them in so you see how much you’ll need so you don’t get stuck or overspend especially when you shop online.
5.) Avoid the FOMO
As tempting as it is to join the craze you can ignore the feeling of missing out on it especially if you don’t have any urgent items to buy. It is not wise to spend money on things you don’t need in the name of peer pressure.
6.) Stop eyeing Fuliza
If you don’t have the money wacha nayo tu. The temptation to fuliza or hit up Tala to fund your shopping is strong when you see mad discounts everywhere. Think of it this way if have to borrow to buy something(that won’t generate any income) you can’t afford it (at the moment) and that is okay. You can take your time to save or work to get that money to afford it when the next sale comes around. You don’t need to risk being listed on the CRB list for a pair of shoes.
7.) Track your money as you spend
As you swipe your card or transact with cash or m-pesa, track as you spend so you can know if you are on a budget and avoid accidentally overspending.
8.) Go for cheaper options
In as much as cheap is expensive, you can search for generic versions of the item instead of the popular brand, or if you can’t afford to get someone a gift you have the option of re-gifting an item you have that you don’t use. It is the gesture that matters at the end of the day.
9.) Do not splurge
In as much as you only live once you don’t have to blow your bank. Utanunua supper na nini ukiishi adi jioni? Spend what you intend to spend and leave whatever else that may tempt you.
10.) Mind sales tactics
Typically a “Buy two get one free” sign will gravitate you to an item but what you may not know is that you pay for that third item in hidden costs like shipping fees. Not to forget the percentage discounts, if it’s 25% off you are paying KSH.750, if you don’t have that money to spend on the item achana nayo tu.
Go ahead and shop with these tips at the fore of your mind and enjoy the ridiculous deals this Black Friday.
Register for Centonomy Campus Edition and boost your financial skill as we gear up for the Festive season.