In your teens and 20s, FOMO applies largely to nights out, where you live in fear that you could miss a really solid jol.

Then you head towards your 30s and make the pivot to JOMO (yes, ‘joy of missing out’), where you’re delighted when a Friday night brings with it no social engagements.

While I am 100% onboard with JOMO, I can’t help but get a little anxious ahead of Black Friday, when FOMO returns with regards deals.

There’s nothing quite like the thought of a smug co-worker having box after box delivered to the office in the days that follow, gleefully announcing the discounts on each item, to inspire a panic buy or two on the big day.

Perhaps it’s time for a word of caution from South Africa’s National Credit Regulator (NCR), which is urging folks to keep the credit card out of the light of day.

MyBroadband reports:

“If you did not plan and budget for ‘Black Friday’ you are cautioned not to use credit. This is because you will not be saving as credit costs more”, said the regulator’s acting Manager for Education and Communication Advocate Kedilatile Legodi…

When one buys on credit, said Legodi, consumers will be liable for related costs such as interest, monthly service fees, once-off initiation fees, credit life insurance and others.

The NCR cautioned against making reckless spending decisions and encouraged consumers to be smart and responsible spenders this Black Friday.

The regulator advised consumers to first draw up a list, separating “needs” from “wants”, then look into the budget to check whether the available money is enough for further purchases.

Sound advice.

Legodi further warned that failure to pay the credit provider could result in a negative credit record, which would make it harder to receive loans down the line, as well as the likelihood of credit providers charging a higher interest rate.

For those who may not have the cash on hand come this Friday, but still want to take advantage of the deals on offer, there is the option of a zero-interest payment solution like PayJustNow.

They offer South African consumers an alternative to credit in the form of a dynamic tech-enabled payment solution, based on a widely used and internationally validated ‘buy now, pay later’ business model.

Have a look through the extensive list of stores that accept PayJustNow as a payment method (the likes of Freedom of Movement and Veldskoen, among others), and see which deals catch your eye.

Once you’ve filled your cart,  you can select the ‘PayJustNow’ option at checkout and pay your purchase off over three months, in three easy, interest-free instalments.

It’s this easy:

Interest – zero. Hidden fees – zero.

If you do use the PayJustNow service on Black Friday (November 29), or the Saturday (November 30), your second instalment will only be due in January.

That’s one-third upfront, and then the other two payments in January and February, because we all know December is hard on the wallet.

The satisfaction of having your boxes arrive at the office, knowing you scored some great deals and won’t be forking out interest on your credit card – priceless.

Ultimately, the NCR, along with most level-headed folks, just want to see you spend your money wisely come the end of the week.

Set yourself a budget (whether or not you’re spreading that out over three months), do your best to stick to it, and remember that this isn’t the final sale that will ever take place.

May all of your purchases be shrewd.

[source:mybroadband]