Blog Post --- Published on June 16, 2022 | Last Updated on January 10, 2024

4 Smart Ways to Overcome FOMO to Maintain Financial Health

4 Cara Jago Mengatasi FOMO Untuk Jaga Kesehatan Finansial 4 Smart Ways to Overcome FOMO to Maintain Financial Health

Fear of Missing Out or FOMO can affect anyone.

FOMO and Its Examples

There is fear of being left behind or you experience anxiety when you don't follow what other people are doing, whether it's buying new things, traveling to new places, etc., so you end up doing it too.

Is FOMO negative? What are the impacts of FOMO?

If not addressed, FOMO will impact your financial health. 

4 Smart Ways to Overcome FOMO

There are many ways to overcome FOMO, for example by limiting time or being selective when using social media, occupying yourself with hobbies and changing perceptions. In this article, Jagomin will focus on discussing how to overcome FOMO, financially speaking.

1. Set some financial goals or do Moneyfesting

When we don't have a goal or don't know what the money will be used for, it's very easy for us to spend money to buy various things. If what you buy is something you need, it is fine. But, when money is used up to buy something just so you don’t have FOMO, this is a habit that needs to be stopped.

You can overcome FOMO by starting to set or manifest your financial goals. Of course, financial goals need to be realistic and based on current financial conditions. Try manifesting through Moneyfesting.

One of the most important financial goals that everyone is recommended to set is having an emergency fund. Emergency savings can help you deal with unexpected events more easily and keep you from the need to borrow money. 

2. Be disciplined in budgeting for every need

To overcome FOMO, you also need to be consistent and disciplined in allocating funds or budgeting for every need.

Budgeting can help you control your expenses. For example, when you have allocated Rp 1 million for self-indulgence for a month, then you must be disciplined to stick to it.

When you see your friends buying new shoes, you won't be tempted to buy them too if the Rp 1 million has been used to buy other things.

You can feel practical budgeting when using the Jago Pocket in the Jago application. Basically there are two types of needs, namely the need to save money and the need to spend money.

Needs such as building an emergency fund, saving for retirement and buying a house are needs that require you to save money. For this type of need, you can create Saving Pockets.

Meanwhile, for needs that require you to spend money such as paying monthly bills and buying groceries, you can create Spending Pockets. The awesome thing is, you can create many Saving and Spending Pockets according to your need.

After the Pocket is created, to separate funds for each need, all you need to do is move money from the Main Pocket, which is usually the source of your funds. If needed, you can also move money between Pockets or return money to the Main Pocket.

3. Lock money in a secure place

Indeed, it takes strong discipline to always stick to the budget. However, there are times when it is difficult to resist temptation. In the end we allow ourselves to follow the temptation.

If you experience this often, besides continuing to practice self-discipline in spending money, you can lock your money in a secure place, such as in a Locked Pocket that is also in the Jago application.

menabung di kantong terkunci bank jago dan menggunakan fitur autosave adalah cara mencegah, mengatasi dan terhindar dari FOMO

Don't worry, the locking period is flexible and you can lock money from as short as 14 days. If one day you need money, you can use the locked money. But, as long as you don't need it, you can keep your money locked in a Locked Pocket to avoid FOMO.

4. Put money automatically into savings

One more thing you can do to overcome FOMO and maintain financial health is to let your savings automatically receive money.

So, if money has been automatically put into savings, then the money has been secured from irresponsible use. It's best if you set your savings to receive money automatically when you receive your salary or at the beginning of the month.

Setting up automation with Jago is super easy. For each Saving Pocket, you can activate the Autosave feature. You have the freedom to set when you want to automatically transfer money to the Saving Pocket and the transfer amount.

So, Jagoans, are you ready to do the above to avoid and overcome FOMO?

You might also like..

Productive Debt vs. Consumer Debt: What's the Difference?

February 23, 2024

Productive Debt vs. Consumer Debt: What's the Difference?

Which type of debt is good and which one should be avoided? Let's find out the difference between productive debt and consumer debt and how to pay off debt the jago way. Read more

How to Save at Bank Jago the Way You Want: Boost Income and Achieve Moneyfesting

February 19, 2024

How to Save at Bank Jago the Way You Want: Boost Income and Achieve Moneyfesting

Who doesn't want their income to increase? By saving at Jago you can also achieve your financial goals. Choose Locked Pocket, Deposit or other saving features as you want. Read more

Unexpected Big Expenses When Renovating or Remodeling a House

February 13, 2024

Unexpected Big Expenses When Renovating or Remodeling a House

Renovating or remodeling the house is necessary to make it more comfortable to live in. Find out how to prepare the budget for expenses that may arise. Read more

Semua jadi Jago

Mulai hidup seutuhnya dengan keluarga dan kerabat.

Download aplikasi Jago, lalu pilih Jago atau Jago Syariah dan daftar akunnya lewat ponsel kamu

download on app store download on google play

Scan Kode QR di bawah ini dengan kamera ponselmu untuk menginstall Jago.