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Black Friday Survival Tips

Posted 22 November 2018 under TaxTim's Blog


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Black Friday  Survival Tips

It's that time of the year again - Black Friday!

We'd like to assume that you've probably been inundated with nothing but sale specials in your inbox . While others have managed to plan ahead to ensure a pleasant shopping experience, other consumers will shop wildly and randomly during this highly anticipated sale bonanza. With so little time to spare we've put together 3 important things to remember this Black Friday:

1. Compare your options

Sometimes brand loyalism should be left at home. Even when your favourite brands are involved, choose not to get caught up in the hype and swipe . Take a bit of time to weigh your options and look at other deals. Try to ignore the sales pressure and make a purchase like you would on any other day, by researching all available options.

2. Avoid the queue and buy online

Shopping centres are bound to get severely packed with eager shoppers. If you're not one to withstand the crowds it is better to sit in the comfort of your own home and visit your favourite retailer online . Remember that a number of stores exclusively sell some of their products online. With this comes being a wise and alert shopper: Make sure you're shopping at reputable online stores and only enter credit card details into websites showing the green lock icon in their address bar (websites starting with https://).

3. Don’t spend beyond your means

In case you do get caught up in the buzz of the day, try not to get trapped in a bad financial position. Think about the days that will follow, save up for them too and make sure your purchases fit into your budget. Christmas is also weeks away, best not to deplete your Rands as yet.

If you do intend to claim tax deductions on some of the purchases, you’ll make this Friday, please remember to keep your receipts safe. They will come in handy in the next tax year when submitting supporting documents to SARS. Please note only purchases made for business reasons can potentially be claimed for tax.

Not that there's much time left to decide whether or not to participate in Black Friday, it's important to remember not to pressurise yourself to make any purchases which will later leave you feeling guilty, or worse, leave you in debt. If you can't afford it this time around, you'll get another chance next year. On the brighter side of things, we hope you shop responsibly and manage to take a lot without any website crashes or till point riots this Friday.

 

 



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Do your
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