From FOMO to JOMO: How Arizonans can find joy in spending less

Rachel Caballero

Submitted photo

Consider unfollowing accounts that make you feel like you’re behind, cutting back on apps that tempt you to overspend or taking a break from social media altogether. If something triggers comparison, stress or unhealthy spending habits, it’s OK to let it go. Protect your peace and your financial well-being.”

The fear of missing out, when it increases social connections, can be a positive thing that leads to personal well-being, according to a study from Baylor University. However, when FOMO leads to impulsive purchases, living outside your means, increased debt and neglecting savings, it can wreak havoc on your finances and bring you financial anxiety.

It’s time for Arizonans to push aside the FOMO and start focusing on JOMO — the joy of missing out. By disengaging from the financial pressures of social media, always having to buy the next best thing and really focusing on mindfulness and goals that are beneficial to your financial situation, you can accomplish important things.

Set intentional goals

Your goals should be your own, not competing with others. When you are mindful and intentional about what you want to accomplish financially, and set a plan to get there, you’ll feel much better about the journey and start making decisions that align with your values and your future, not just someone’s highlight reel.

Celebrate your milestones

Remember to celebrate your accomplishments. Sure, it may have been sad to miss a movie and lunch with the gang, but when you pay off that credit card or reach a goal post in your savings, you’ll feel a different kind of joy that lasts longer than a latte or a night out. Treat yourself in meaningful ways like a Saturday by the pool with a good book, a tasty homemade meal or a quiet day off to yourself.

Practice loud budgeting

Don’t be afraid to let your friends, family and colleagues know that you’re skipping an invitation because you have financial goals you’re working toward. Not only does this help them understand it’s not anything to do with the offer but more about reaching your goals and securing financial soundness. They may even be on board, giving you an accountability partner, and changing plans to ones that are more affordable like a friends’ movie night and popcorn bar at someone’s house instead!

Remove that which doesn’t serve you

Consider unfollowing accounts that make you feel like you’re behind, cutting back on apps that tempt you to overspend or taking a break from social media altogether. If something triggers comparison, stress or unhealthy spending habits, it’s OK to let it go. Protect your peace and your financial well-being.

FOMO may be loud, but JOMO is powerful. Take control of your financial future, stay intentional with your goals and surround yourself with people who support your journey. In doing this, you’ll find that “missing out” allows you to make space for peace, progress and a brighter financial future.

Editor’s note: Rachel Caballero is community development and PR manager for TruWest Credit Union, which has financial service centers in Chandler, Gilbert, Mesa, Peoria, Phoenix, Scottsdale, Surprise and Tempe. Please send your comments to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.