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FSW Debt Counselling is calling for greater financial awareness in light of Black Friday and Cyber Monday discount campaigns.
Every year, online shops in particular tempt shoppers with special discounts for Black Friday and Cyber Monday. Clever marketing puts pressure on customers and often leads to impulsive purchases. FSW Debt Counselling is therefore urging caution.
Advertising psychology tricks, such as claiming that there is only one product left or that a discount is limited in time, create enormous pressure among customers. “At this point, at the latest, customers should think again about whether they really need the product and whether they need it at this point in time. It is important not to let yourself be pressured,” says Katharina Zahradka, head of financial education at FSW Debt Counselling.
Ill-considered consumer behavior and a lack of financial education in particular repeatedly lead to people getting into financial difficulties. High interest rates, compound interest, and reminder fees for unpaid bills or overdrawn accounts cause the debt spiral to turn faster and faster, ultimately prompting many of those affected to seek help from debt counselling services. The pre-Christmas period in particular tempts people to make ill-considered purchases—which then has a delayed impact on FSW Debt Counseling. The number of initial contacts with FSW debt counselling in the first quarter rose by around 20 per cent compared to the last quarter of the previous year. From the last quarter of 2024 to the first quarter of 2025, the figure was 24 percent.
Online gift calculator helps you keep a cool head and maintain an overview
The discount battle surrounding Black Friday and Christmas promotions not only tempts people to make ill-considered purchasing decisions but also causes them to lose track of their available budget. “Offers such as ‘buy now, pay later’ only tempt people to spend more money than they have, and I strongly advise against them. It’s best to set yourself a financial limit so that you only spend the money you actually have available and thus keep track of your available budget,” says Zahradka.
“To keep a cool head and maintain an overview, it’s helpful to use a shopping list – even when shopping online. Compare prices, as often these are only supposedly heavily reduced,” emphasizes Zahradka. The online gift calculator from FSW Debt Counselling is also helpful here: At https://www.schuldenberatung.wien/geschenkerechner, you can plan your gift purchases and consider how to finance them.
The most essential tips from debt counselling:
– Don’t let yourself be pressured
– Don’t agree to pay in installments
– Set yourself a budget limit
– Shop with a shopping list—even online
– Use the online gift calculator at: www.schuldenberatung.wien/geschenkerechner
– Compare prices: Online is not always cheaper
– If you regret your purchase decision: Make use of your right of return
- source: vienna.at/picture: pixabay.com
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