Financial FOMO

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Does scrolling through instagram give you anxiety? Does flipping through facebook make you feel less than? Does pinterest make your dream life seem unrealistic? Social media can be a fantastic place to inspire you, but if you are not where you want to be in life, it can leave you downright depressed. When you’re depressed, you spend. When you spend when you don’t have financial freedom. When you don’t have financial freedom, you are not in control. The ugly financial FOMO cycle has begun. For those of you who do not know, FOMO stands for Fear Of Missing Out. Let’s leave FOMO in 2018.

Stop getting financial FOMO with these 4 tips:

Know Your Why

So, you want to quit financial FOMO. Why? Why are you trying to get in a better place financially? What is your motivation for stopping this spending cycle. It may be your children, your retirement, your peace of mind, or your dreams of becoming a homeowner. Think about your why and write down a list, either in a notebook or your phone, your reason why you want this cycle to end. When financial FOMO hits, you need to remind yourself of why you started in the first place. You need to do this daily. Every day there are triggers to get you off track. Address your why, keep it on your phone, keep it on the background of your computer and stop the cycle before it starts. For some excellent inspiration visit this page.

Address Your Anxiety

What triggers your financial anxiety? Do you find yourself particularly sensitive about a specific topic than others? What are you looking at that that is giving you fear that makes you feel poorly about your financial situation? For most, it’s a vacation, a house, or a car. If you realize that every time you see others’ experiences, log off! You need to address why you feel financially triggered every time you look at something you don’t have. This will help you avoid certain situations temporarily while you address breaking the cycle.

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Take a Break

If you realize you cannot look at social media without feeling less than please take a break. Social media is not your real life; it is your highlight reel. No one is posting pictures of them having a bad day, having trouble getting out of debt, or speaking about their mishaps. Taking a temporary hiatus can reset what is essential to you and your life. When you take a break, you may realize that you are calmer, sleep better, and feel generally less stressed after a few weeks off of these social platforms. You may also recognize that a lot of this FOMO is manufactured by marketers and advertisers and don’t affect you as much as you may think.

Practice Gratitude

You aren’t missing anything in your life materially. You may. however, be missing a piece of your life emotionally. The only way to heal that emotional rift is to be grateful for what you already have. Buying items and purchasing “stuff” will not fill the emotional hole that you may have. The great news is that fixing it is for free! When you wake up in the morning try to list the things you are grateful for. This may include a healthy body, a roof over your head, a warm home to sleep in, and a loving family.

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First and foremost, I know this is hard. I know you may not be able to shut off the FOMO overnight. You must realize that while you think you are missing out, you are actually gaining a new life where you are in full control instead of your debtors.