Black Friday and Cyber Monday survival guide

It’s nearly time for Black Friday again — that special time of year when the country seems to lose its collective mind and overrun every mall, hunting for deals, fighting with other shoppers and spending loads of cash.

The thing is, beneath all the hype and hysteria, Black Friday and Cyber Monday can be a great weekend to save money, but only if utilised correctly. Buying up every item just because it’s on sale is a surefire way to end up in debt. That’s why it’s so important that you plan ahead.

If you are taking part in the world's biggest shopping weekend this year, keep these tips in mind to make sure your finances survive the Black Friday and Cyber Monday spending rush.

How to prepare for Black Friday and Cyber Monday

  1. A budget will do you good

    The best way to avoid overspending, especially on items you probably don't need, is to have a budget. A budget is a great tool to guide your spending, ensuring that you don’t spend more than you actually have. If you're unsure how to go about creating a budget for yourself, check out this blog.

  2. Know what you want

    Black Friday and Cyber Monday means plenty of enticing deals, so how do you make sure that you don't spend money on things you don't need? Actually, it's simple. Make a list of the things you have had your eye on for a while. You can approach this by drawing up a list according to wants vs needs, by price, or by order of priority. This will focus your mind on what to look out for and also help you to compare prices on those specific items ahead of the Black Friday and Cyber Monday weekend.

  3. Do your research

    Many retailers offer early or post-sale deals. This is where some research well ahead of time will come in handy. Go through your list, then search for the best deals for each of those items. This will save you from walking around an entire shopping mall just to find what you want.

    Also, if you know the price and the offers available beforehand, you will know then and there whether you’re getting a good deal or not.
  1. Save for the big weekend

    Imagine seeing that PlayStation game, a gorgeous handbag or stilettos at the lowest price you have ever seen and you still can’t afford it? FOMO hits hard, right? It's never too late to start saving and cutting costs in your home in order to afford the things you plan to buy on Black Friday and Cyber Monday. So, is a savings account worth it? Absolutely!

    The point is to find a savings account, like an African Bank savings account, that will allow you to save and have access to your money when you need it. African Bank's Access Accumulator can help you to save money in preparation for your Black Friday splurge. It also offers the best way to grow your money if you survive Black Friday with cash to spare. The Access Accumulator offers market-leading interest rates, as well as the flexibility to withdraw your money in 24 hours, with no notice period restrictions, and no penalties.

To find more savings accounts from African Bank, visit:

 How to save money on Black Friday and Cyber Monday

  1. Go Online

    One of the best ways to avoid the sales rush is to do your shopping online. Also, if the idea of standing outside a store from the early hours of the morning is something you would rather not do, online is the way to go. The great news is that many South African banks offer accounts that have online shopping/online banking capabilities that you can benefit from.

    Remember to also download your favourite retailers’ mobile app. This allows for easy browsing and access to great deals.
  1. Divide and conquer

    Friends are great shopping partners! If you have identified deals that are in two parts of town/the mall, it will be worth your while to share your shopping list with a friend and decide who can go to which stores to get the items on your lists. This will not only save you on travel time, but two sets of eyes are more likely to spot deals you hadn’t even heard about.
  1. Stick to your budget

    While all the deals and discounts can be tempting, it is important to remember to stick to the budget you have set for yourself. After all, you don't want to find yourself in a darker financial hole than you were before this shopping holiday. Think ahead — think about January and your financial goals. How will your overspending affect these goals? You could use African Bank's MyWORLD Pocket Account to create spending pockets for the weekend. Here, you will earn SA’s best rates and, if you want to keep tabs on your spending, you can easily do so using your banking app or online banking profile.

  2. Wait for better deals

    Sometimes, better deals come soon after Black Friday and Cyber Monday. Whether you’re buying clothing, electronics, furniture or household items, the best bargains may show up in the months after this shopping extravaganza. So, if you can, wait for it. You could come across a better deal soon enough and your bank account will appreciate your patience.

Black Friday can be a great opportunity for you to get a good price on something that you actually need. If you want to make the most of it, plan ahead. Draw up a budget to determine how much you can afford to spend, and don’t exceed it.

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