Retailers expect bumper sales over the Black Friday weekend thanks to improved consumer confidence since the May elections.
Black Friday is on 29 November, closely followed by Cyber Monday. If you plan to hit the shops online or in person, the best advice is to hide your credit card to avoid impulsive and emotional shopping and plan before you shop.
“If you see what you think is a good price, compare it online with what other retailers are charging. It may be that the discount is not as great as you thought,” Manyike says. “FOMO is commonly known in the financial industry and explains sudden buying surges on the stock market, which can lead to market bubbles. Emotions such as fear, envy and greed cloud your judgement. You are likely to make better financial decisions if you try to remain rational, objective and emotionally detached.”
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