How to shop safely and responsibly this Black Friday

You want to benefit from Black Friday, Cyber Monday and the month-long specials that come with them without falling into unnecessary debt. To resist the urge to splurge, you need to be prepared. Here are our tips for spending responsibly when there’s so much on offer.

1. Be prepared

Plan your purchases and stick to a budget. Having a list of items and keeping to it means you’ll be less tempted to spend more. You’ll be familiar with what’s available, how much it costs and whether it’s a good deal, not just a price wrapped in a bow. This will also keep your spending focused on what it is you’re looking for instead of strolling or scrolling endlessly and being tempted to spend more.  

2. Shop safely and securely

Skip the crowds and do your shopping from any of your devices in the comfort of your own home. Your Standard Bank Credit Card is equipped with 3D Secure, an extra layer of security when shopping online. Use Masterpass™ to simplify your online checkout process with one secure payment, or use your Virtual Card to make secure local and international payments online or on an app without having to use your account details. For extra convenience and safety when you’re in-store, go cashless and simply Tap to Pay with your card or use the SnapScan app.

3. Know where to go

Only shop on trusted retailer sites and make sure that your checkout is secure; secure sites have a padlock icon before the URL. Be careful of shopping while on public Wi-Fi as you’re less protected from cybercrime on these networks. Watch out for strange emails and clicking on unfamiliar links, and always use strong passwords to protect your information.

4. Be smart about credit

If you’re accessing credit, be savvy about the type of credit and the long-term cost of it. For example, taking up store credit often comes with a higher interest rate, whereas the 55 days’ interest-free on your credit card could give you some breathing space.

5. Is it a want or a need?

It sounds boring, but ask yourself, “Do I really need it?” If you’ve just stumbled across something, are you interested because it’s something you were looking for, or are you tempted by the ‘bargain’? For example, if you’re in need of a new laptop, appliance or other essentials, it’s a good opportunity to get it at a discounted price. However, if it wasn’t on your list, it might be wise to give it a miss.

6. Take advantage when it’s right

For that genuinely excellent deal for something you really need, remember that you can easily change the limit on your Revolving Loan or Credit Card on our Banking App. You can also apply for a Credit Card online, start using it before you collect your physical card arrives and start earning UCount Rewards. 

7. Remember your long-term money goals

No matter the discount, if you’re spending money you don’t have on things you don’t need, you’re not saving money, and it will take you longer to get to your financial dreams. Don’t be distracted by the glitz of unbeatable deals, rather continue to put money away into your regular savings.

And if you’re not in the habit of saving, an easy way to start is by putting the money you’ve saved on those great deals into a savings or investment account.

Visit our Black Friday and Cyber Monday page for deals that will help you make the most of your time and money.