The Real Cost of FOMO

Ever heard of FOMO? It stands for the “Fear of Missing Out” and it can cost you a lot of money!

FOMO is a modern phenomenon that seriously impacts spending decisions. Why? People hate missing out and will pay a high price for inclusion in such things as fashion, travel, conferences, and investment decisions.

For instance: You don’t want to miss out on dinner with your friends just because it’s not in the budget….so you go anyway.

Or maybe so and so got a new car that they couldn’t afford so why can’t you?

Social media heightens our FOMO by keeping us constantly aware of what everyone else is doing, the vacations they’re taking, and the parties they’re attending. This actually causes people to spend money – not realizing they’re hoping to gain a perceived level of happiness that they’ve seen on a screen.

But listen…the Bible says that our hope is not in this life alone but in the one to come. We don’t have to fear missing out on the things of this world when we have the promise of so much more that money can’t buy.

We do need to guard our hearts and exercise self-control or we’ll fall prey to clever marketing campaigns that play on our emotions or we’ll covet what we see in the lives of others.

That’s why it’s essential that we follow the advice of Paul in Romans 12:2, Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect.

Only God can truly satisfy.

So, check your motives the next time you’re tempted to spend money. You may have a case of FOMO. But don’t fear missing out on things in this life..we should fear missing out on the wonderful blessings promised to us by God in the life to come!

For more help or encouragement with your finances, call the Crown Helpline at 800-722-1976 or go online to crown.org.