It’s that time of the year again where consumers are being enticed to spend their hard-earned cash.

Black Friday deals and promotions have already started.

Economists warn that this is a year that consumers need to be more cautious about their spending habits, especially in light of higher inflation and the difficult economic climate.

Product Head at FNB Integrated Advice Ester Ochse, says there is however still an opportunity to find good bargains to stock up for the festive season or to purchase big school items at lower prices.

Ochse says it’s important for consumers to be intentional with their budget this Black Friday and base their purchases on what they really can afford.

“Build a list of items that you would like to purchase during this time, then categorise them into three categories: Needs, wants and nice to have. The needs can be items such as stationary for next year or groceries. Wants will be items that you will use but they form part of discretionary spending normally, examples are clothing and cosmetic items. Then the last category will be nice to have, these will be things like a new Smart TV or Air Fryer”.