Article: Lonwabo Mtyeku | GP News Media – Community Newsroom Images: Supplied
21 November 2025 — Johannesburg
As Black Friday fever grips the country and the festive season approaches, South Africans are gearing up for what is traditionally a high-spend period marked by celebration, gifting, travel and entertainment. But beneath the excitement lies a growing financial risk: the rising trend of consumers falling into debt that follows them long into the new year.
This year, FNB is sounding the alarm and offering practical guidance to help households steer clear of unnecessary debt and start 2026 on stronger financial footing.
The Emotional Cost of Overspending
“Reality after a heightened period of shopping and overspending can feel like a financial hangover,” warns Patricia Temba, Executive Head of FNB Retail Collections.
“When the excitement wears off, you might ask yourself, ‘How did I spend so much?’—often followed by guilt, self-blame, or even shame about being deeper in debt.”
Temba stresses that these feelings are normal and should be used as motivation to take corrective action.
“It’s important to move from guilt to self-empathy—and then take decisive steps to regain control of your finances as fast as possible.”
Understanding the Black Friday Debt Trap
South Africans are increasingly vulnerable to what economists call the Black Friday and festive season debt trap. This happens when consumers:
- overspend on non-essential items during sales
- rely heavily on credit such as store cards, personal loans, or buy-now-pay-later products
- enter January weighed down by debts they cannot easily repay
Retailers fuel this cycle by leveraging urgency, FOMO and emotional marketing to drive impulse buying. Meanwhile, January brings “Januworry”—a crunch period filled with expenses like school fees, stationery, insurance renewals and annual subscriptions.
“That’s when we see a spike in missed payments and maxed-out credit cards,” says Temba. “Customers often overextend themselves, and by January the reality hits.”
She adds:
“It’s not just overspending—it’s emotional spending. People want to give generously or keep up with expectations. That’s why we encourage customers to talk to us early. The earlier we know, the better we can help.”
FNB’s Practical Tips for a Debt-Free Holiday Season
1. Set a Realistic Budget — and Stick to It
According to Lethukuthula Ngcobo, FNB Integrated Advice Product Manager:
“Impulse purchases are the enemy of financial wellness.”
He advises consumers to create a clear spending plan for Black Friday and the festive season.
- List all expected expenses: gifts, travel, food, entertainment
- Add a buffer for unexpected costs
- Avoid buying anything not on your list
Ngcobo explains that a proper budget provides a “financial map” that helps avoid shock in January.
2. Avoid Credit-Fuelled Purchases
Ngcobo cautions strongly against unnecessary credit:
“If you can’t afford it in cash, reconsider buying it.”
Buy-now-pay-later and credit cards can seem convenient but often include:
- high interest rates
- hidden fees
- greater long-term costs than the original purchase
Using cash or debit cards helps consumers stay within their means and protects their credit score.
3. Use Loyalty Rewards and Verified Discounts
South Africans are encouraged to use loyalty programmes to stretch their budget.
Ngcobo notes:
“Rewards and discounts can offset rising holiday prices. When used consistently, they become a sustainable financial strategy.”
Consumers should also be vigilant against scams, especially online, as fraudulent sites increase sharply during sale periods.
4. Shop Smart and Safely Online
To avoid online fraud:
- Compare prices across reputable retailers
- Avoid suspicious links
- Shop only on trusted sites with secure payment tools
Scammers often create fake websites or ads designed to steal personal and banking information.
5. Contact Creditors Early if You Expect Payment Difficulty
Temba warns that ignoring debt only worsens the situation.
“Not talking to your creditor can lead to penalties and negative credit listings. We want to help customers avoid that altogether.”
Reaching out early opens the door to:
- tailored payment plans
- financial advice
- flexible arrangements to reduce pressure
“There’s no shame in reaching out,” Temba adds. “We’re here to offer solutions, not obstacles.”
A Better December Starts With Better Decisions
With the right planning, South Africans can celebrate the festive season without sabotaging their financial future.
As Temba concludes:
“The best deal this season is peace of mind. Facing your financial reality head-on now can mean the difference between drowning in debt and starting the new year stronger, more confident, and in control.”
