F.O.M.O is a Four Letter Word

“For everything you have missed, you have gained something else, and for everything you gain, you lose something else.” Ralph Waldo Emerson

Think about how much we are bombarded these days with offers too good to be true. Offers that are only good for the dreaded “Limited Time Only!!” How many times have you been sucked in and opened your wallet only to be filled with regret later that the too good to be true offer was, indeed, that?

I was presented with an opportunity recently that was related to something I have been thinking about doing for a good while. It was a GREAT opportunity but, naturally, as with all things opportunity related, there was a cost involved. Not bank breaking, but not something I could ever think about spending significant money on without discussing it with the Hubs first. More on that later.

F.O.M.O. Four little letters filled with angst. For the uninitiated, F.O.M.O. is an acronym for Fear Of Missing Out. (There’s an acronym for EVERYTHING these days, isn’t there??) Infomercials are the worst offenders when it comes to stoking the F.O.M.O. flames. I’ll be the first to admit that I’ve gotten sucked in on occasion. There are several shelves in my basement filled with my impulse buys because it was “such a great deal!” and “I just have to have this NOW!” and the worst- “if I don’t get it NOW it won’t be here later!” I’m currently scheduling my fall yard sale.

Part of the “Older Wiser” in “Older Wiser Money Miser” comes from my thought process evolving away from the “I MUST BUY THIS NOW” mentality to being intentional my funds. Advertisers don’t make it easy, and my email is constantly filled with stores and websites generously offering their advice about how I should best spend my money. While I’ve unsubscribed from some of the more obnoxious offerings, most of the others are treated with a visit from my “DELETE” key pretty regularly. One of the perks of no longer having my satellite TV service is that I no long have access to QVC on my television. I used to keep it on for background noise and boy, are they GOOD at getting people to open their wallets! I still get their emails, and occasionally I’ll find something I need and the price is right, but I no longer subject myself to the drumbeat of the “great” deal.

The most important thing to remember is that it’s the job of the seller to sell stuff. Capitalism at its finest, and there’s absolutely nothing wrong with that. As a responsible steward of your money, however, it’s your job to determine whether you truly need what the seller is buying, and if it’s worth the price they want you to pay. Sometimes it is, but most of the time it’s not. If you’re looking at something you think you need, sleep on it. If you still want/need it in the morning, it’ll still be there. If it’s not, the world keeps turning and Life Goes On (hat tip to Todd Rundgren).

Back to that GREAT opportunity I referred to earlier. After giving it some thought, I decided that it wasn’t the right time for me to commit my hard earned funds to something I’m not 100% sure I want to do. The “old” me would’ve jumped on it and regretted it later when it didn’t pan out like I had envisioned it would. The “older wiser” me is at peace with my decision with the knowledge I can revisit it later or possibly find it somewhere else better and cheaper! That, my friends, is progress like I never thought possible for myself, and you’re struggling with F.O.M.O., it’s possible for you, too.

Be well and God Bless-until we meet again…