"Why do I feel like I need to do this?"
"What will happen if I don't participate in this event?"
Recently, I've started paying attention to a stock that many people are buzzing about and speculating will rise in price. This information primarily comes from TikTok and investment community groups on Facebook. Some acquaintances, even those I don't follow, are advising me to buy the stock right now, although some caution that it may be too late to join the hype.
However, as I look around, I begin to feel the pressures and responsibilities of daily life. My friends are starting to prepare for family life, buying homes, and cars, or even going on dream vacations. These things make me start thinking about my dreams and personal goals.
Perhaps, investing in this stock could at least help me get closer to my goal of owning my first home or having enough money to go on the trips I desire. But I also remember that life is not just about money. The most important thing is to make decisions that align with my values and personal goals, while not missing out on the precious moments in daily life.
What should you do when you're feeling FOMO about finances?
When feeling FOMO about money, you probably often take some measures to reduce stress and feel more confident about your financial situation. Social media is often one of the major sources of FOMO, as you are drawn into watching influential individuals on TikTok share their incomes and successes.
To soothe the feeling of FOMO, you should take the following steps:
Focus on personal goals: Remember your personal goals and values, and focus on progressing towards those goals rather than comparing yourself to others.
Build a financial plan: Set a specific financial plan and establish a monthly budget to manage your income and expenses effectively.
Limit time on social media: Avoid consuming too much information from social media, especially content that puts pressure on income and success.
Positive comparisons: Instead of comparing yourself to others, focus on evaluating your progress and success based on your own goals and values.
Seek support: Seek support from friends, family, or financial experts to share and learn from their experiences.
FOMO - Motivation or Obsession?
Understanding FOMO, we can see that it is not just a negative issue. FOMO can be a motivating factor that helps us explore the world around us, expand relationships, and experience life more positively. The pressure from FOMO can stimulate creativity, and create motivation to strive for and achieve our goals. In this way, FOMO is not just an obstacle but also a lever, propelling us to rise and develop.
However, if not managed properly, FOMO can cause stress, anxiety, and a lack of confidence. The pressure from feeling the need to participate in every event, and the new trend can make us feel imposed upon and out of control. This can lead to exhaustion, distraction, and a sense of dissatisfaction with life. Facing FOMO, it's important to learn to be self-disciplined, create balance, and prioritize what truly matters in life.
Conquering FOMO boosts your confidence in personal finance.
When feeling engulfed by financial FOMO, one important thing to always remember is to consider who you are comparing yourself to. Everyone has their journey and cannot be compared to others. Instead of wasting time comparing yourself to others, focus on what you truly want and take action to achieve your goals.
For yourself, planning and breaking down your progress is crucial. This way, you can identify steps forward and recognize small successes along your journey. Moreover, updating information on my social media feed also helps me actively filter positive information and inspiration from social media.
Finally, I always remember to celebrate my victories. Even the smallest successes deserve respect and celebration. This helps me maintain motivation and feel more confident about my financial situation.
Let MaiMoney help you solve your FOMO financial
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