Nedbank warns shoppers against Black Friday debt

Nedbank Namibia has cautioned shoppers to avoid unnecessary debt during the sales rush on Black Friday.

Bank spokesperson Selma Kaulinge says Black Friday should not derail long-term financial goals.

“We encourage clients to approach it with the same discipline they would apply to any financial decision: plan, budget, and use the right tools. Our role is to make financial fitness accessible, so that even during high-spend seasons, clients remain in control of their money,” she says.

She says Black Friday can also be a financial indicator to push for responsible financial habits.

“How consumers spend during this period reflects confidence levels and economic sentiment.

For banks, it is an opportunity to advocate for responsible spending and provide tools that help clients stay financially fit,” Kaulinge says.

She adds that consistency, planning, and smart decisions – when the temptation to overspend is high – lead to lasting success.

“Without a clear budget and priority list, it is easy to fall prey to ‘limited time’ offers and bundle deals that seem irresistible but add little real value.

“Credit and store accounts, while convenient, can become debt traps if repayments are miscalculated or limits maxed out.

Experts advise using cash or debit cards for discretionary purchases and reserving credit for essentials only,” she says.

Kaulinge says online shopping during the sales period brings its own risks.

She advises consumers to verify the legitimacy of websites and apps, enable two-factor authentication, and use secure payment gateways.

“Scams and phishing attacks peak during Black Friday, so vigilance is key,” she says.

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