Spend every cent you have earned wisely

THE ubiquitous Black Friday magnetism is demanding our attention, and the saying ‘Shop until you drop’ should in these troubled times be replaced by ‘Stop before you shop’.

It is true that shopping is regarded by many as ‘retail therapy’ and indeed the idea of browsing in a busy shopping centre, finding a bargain, enjoying the excitement, meeting friends and spoiling oneself with that little extra item does have a certain therapeutic benefit.

But seasonal year-end shopping has changed in many ways.

It used to be that the lure of the malls was linked to religious holidays and the season of goodwill; now, there is no pretense – it is a time to get people to justify parting with their hard-earned cash.

The advertising and entire ambience is directed to encouraging people to not only spend what they do have, but to max their credit cards and run into debt. Not that much encouragement is needed.

Of course, the ‘holy season’ has eons ago been transformed into a commercial season, and the wise product manufacturers and advertisers have realised that the value of the product is secondary to how buying the product makes one feel.

For some, spending is a status symbol, to show others one’s financial superiority; for others, it is being part of the action and not wanting to be left out.

It is of some relief that stores have extended the Black Friday hours into days, weeks and even a whole month, so we are spared the queues that used to bash down gates at midnight trying to grab the best deals – often leading to fights and injuries.

For sure, there will be bargains out there for those who shop with their heads and not their hearts.

It is no secret that the nation’s economy is at an extreme low, and individuals are feeling the pinch.

Those who are fortunate enough to have jobs may not get bonuses or increases, given the grave financial state we are facing.

It is time to budget and be true to that budget; to not spend recklessly; to deny oneself those luxuries that will sink us into greater debt.

So, take it easy on Black Friday.

Shop with a list and with a limit. Take advantage of the bargains that will be on offer, but beware of being caught up in the mere spirit of shopping frenzy.

There are two certainties: one is that you will pay for whatever you swipe your card for – with interest.

The other is that the financial situation appears to not have the remotest chance of improving.

Every indicator is that we will be worse off in the year to come than we are now as prices of everything, from food to fuel, increase.

Spend wisely, and don’t overspend.