3 Ways To Fight Financial FOMO
Feel like you can’t keep up with the latest and greatest? Learn how to cope with the Fear Of Missing Out with these three financial wellness tips.
Most people use social media to stay connected with family and friends – but does staying connected ever make you experience FOMO, the fear of missing out?
When it comes to social media, FOMO can be a threat to your finances. Whether your feed is filled with friends or celebrities, it’s easy to see displays of wealth and feel left out if your situation is different.
Avoid comparing your life to what’s presented on social media with these tips.
Coping With Financial FOMO
1. Don’t Try To Keep Up With The Joneses
This may sound like old-fashioned advice, but it still applies today. Everyone has different financial situations and different financial priorities – perhaps choosing to spend lavishly without keeping much of a savings account.
Make money decisions you’re comfortable with that are on track with your financial goals. If you learn to embrace your lifestyle, you won’t feel jealous of how others choose to spend their money.
2. Surround Yourself With The Right People
Another smart tactic is to hang out with friends who don’t make you feel bad about how much money you have. If you only go out to eat once a week or buy clothes when they’re on sale, your friends should accept you on these terms – even if they have more money. If your so-called friends pressure you to spend more than you’d like even when they know you’re on a budget, then it might be time to let go.
3. Reduce Your Social Media Time
If you have an unshakeable problem with financial FOMO, try unfollowing celebrity accounts that show off an extravagant lifestyle and limit your overall social media intake. The less content you see, the less you’ll feel the need to compare yourself to others.
Summary
Financial FOMO is hard to avoid, but not impossible. With the right attitude about your finances and surrounding yourself with friends who appreciate you for who you are, you can learn to overcome it.
Copyright BALANCE
Budgeting
Ready to take control of your finances? See what steps to follow to develop a spending and saving plan and follow through on it.
Related Articles
Are Share Certificates Worth It?
When looking into ways to grow their money, many people wonder, “Are share certificates worth it?” Learn more about how share certificates can help you earn more on your savings.
Can You Add Money To A Share Certificate?
Can you add money to a share certificate? Learn everything you need to know about these high-yield, low-risk investments.
How Do Share Certificates Work?
Are you interested in earning higher returns than a traditional savings account offers? Learn how share certificates work and if they're a good fit for you.