FOMO seems to be a relatively new age term. It stands for Fear Of Missing Out. If your neighbour has taken a mortgage for 5% and he tells you that interest rates are really low, you too jump onto the bandwagon and take a mortgage for 5%. This is irrespective of whether you need the mortgage, or whether you really have a clue as to whether rates are low.
FOMO could also kick in when your friend goes to a noisy party, and you go too, even though you hate parties. But you do not want to miss the opportunity of being in the limelight, especially because your friend surely would be. Or FOMO-ing a Beyonce concert and giving up the bragging rights, even though you need to cram for the exam tomorrow.
Some of these may just be silly things. But FOMO is very common nowadays, with social media rife with pictures and statuses of friends or acquaintances who are constantly sharing their lives and experiences (often only selective good parts). Just constantly checking one’s phone for social media updates itself could be a FOMO response.
Anyway, FOMO can come in myriad ways. A little bit of insecurity, and FOMO will come right through the door. What’s the way out then? POMO of course – i.e. Pleasure Of Missing Out! Before saying yes to anything or making up our minds on anything, we can first introspect as to whether we really need to be at that party, or need that extra loan, or new car, or even vacation at that unaffordable resort advertised on social media. This is not a blanket ‘No’. Rather, it is just applying a layer of thought before saying ‘Yes’.