Tips to keep holiday spending under control

As the holiday season approaches, many South Africans are preparing for the annual shopping event known as Black Friday. While the sales in South Africa may not reach the same levels as those in the United States, the temptation to score a bargain remains strong. To help consumers navigate the pitfalls of overspending and online shopping risks, financial planner Rita Cool and customer experience manager Heino Gevers shared their advice on CNBC Africa. Rita Cool emphasized the importance of budgeting and planning ahead when it comes to Black Friday shopping. She advised consumers to use cash when making purchases on sale and to stick to a predetermined budget. By researching deals online and identifying items to purchase ahead of time, shoppers can avoid impulse buys and make the most of the discounts available. However, shopping online comes with its own set of risks, as Heino Gevers pointed out. Cyber attackers often take advantage of the holiday season to send out phishing emails and malware disguised as promotions. By clicking on malicious links or downloading attachments, unsuspecting consumers can fall victim to ransomware attacks or identity theft. Gevers stressed the importance of staying vigilant and double-checking URLs before making online transactions. In addition to protecting against cyber threats, Cool reminded consumers to prioritize their financial well-being. Rather than splurging their entire holiday bonus on gifts and treats, she encouraged individuals to set aside a portion for savings or long-term investments. By planning for the future and setting financial goals, consumers can strike a balance between indulgence and responsibility. Gevers echoed the sentiment of prevention, emphasizing the need for constant awareness and caution when engaging in online shopping. By verifying the legitimacy of websites, avoiding suspicious emails, and being mindful of social engineering tactics, consumers can reduce their risk of falling victim to cyber scams. One tool that both Cool and Gevers recommended utilizing is loyalty rewards cards. Not only do these cards provide discounts and specials, but they also help consumers save money and earn rewards on their purchases. By taking advantage of loyalty programs, shoppers can stretch their budgets and make the most of their holiday shopping experience. As the holiday season kicks into high gear, consumers are reminded to stay informed, stay safe, and stay savvy when it comes to managing their finances. By following the advice of experts like Cool and Gevers, shoppers can enjoy a festive and frugal holiday season.