It is that time of the year when many are excited about Black Friday. This time around, Black Friday is coming at a time when the Reserve bank is increasing interest rates, food prices are too high and petrol is extremely expensive and life is becoming too expensive for most of us. Many are going through retrenchments. If you can buy discounted stuff that you need online, do so. I still think it is better to buy what you need on black Friday than to use a big chunk of your stokvel payout to buy in December when prices are too high. This calls for stokvels to change the way they have always done things by paying out in time to enable their members to use the money on black Friday. That said, if you are heavily indebted, especially if you have expensive short term debt e.g. revolving credit, personal loan, credit card debt, etc… You would be much better off using your stokvel money to pay off debt so that you have higher disposable income going forward

So as you go shopping on black Friday, remember that your instalments on all your debts are increasing as the MPC continues to increase interest rates. Use your money wisely

Do you need a speaker for your year – end function, book Phumelele Ndumo @ info@thuthuka-sa.co.za