Are you REALLY saving on Black Friday? What to consider before indulging in 'deals'

John Maytham speaks to Annaline van der Poel, COO of DebtRescue.

Listen below.

Some consumers are seduced by Black Friday sales.

Black Friday (29 November) is not just one day anymore, some stores make it last for the whole month of November which means deals, discounts and bargains will pop up all over. There is a concern from some that consumers might place themselves in debt at the cost of deals that aren't saving them much at all. 

"More than ever we need to be very sure of what the regular price of items are, where the savings are and how things are marketed," says van der Poel. 

"It also depends on what you're purchasing and the manner in which you're purchasing. For a lot of consumers, it can be beneficial," van der Poel adds.

Some consumer trends show that people typically spend money on bulk buying 'beneficial items' during November like toilet paper, nappies, cooldrinks or household cleaning supplies which can be significantly cheaper during the epic month of sales.

"It can be a smart choice to buy like this, if you can afford it. But putting it on credit... if you're not going to pay it back immediately... you pay interest and the savings component is lost... so planning is really critical when it comes to this."

- Annaline van der Poel, COO - DebtRescue

Before November sale purchases, consider:

• Do you need/want the item/s?
• Can you afford it?
• Stay away from credit because it defeats the purpose of saving if you have to pay it back in interest.

"If your budget allows for it, do research to check if it's actually a bargain. If you need what is on special and can afford to pay it off immediately, and it won't leave you in debt, then go for it and make rational economic choices," advises Van der Poel. 

Scroll up to the audio player to listen to the interview.