Bangkok: In an era where social media updates every second, the desire for certain things may not stem from necessity, but from seeing others have them, leading to the popular phrase, "If she has it, I have to have it too." This is called FOMO (Fear of Missing Out), not just the fear of missing out on new things, but the fear of missing out on conversations, trends, and being a part of society. This results in spending that isn't based on the question, "Is it necessary?" but rather, "If I don't buy it now, will I be too late?"
According to Thai News Agency, a Deloitte report indicates that many young people make spending decisions based on emotional impulses and social media pressure rather than financial planning. Meanwhile, research by McKinsey and Company found that social content and influencers have a direct influence on daily purchasing decisions, reflecting that FOMO spending is no longer a distant phenomenon. KTC invites you to check your checklist of 5 signs to see if you're experiencing FOMO before your money slips away unknowingly.
Firstly, the heart races when seeing the word "limited." Many find themselves purchasing items simply because they are hard to find, like a limited edition bag, leading to spending at high resale prices. The mere realization that it might not be available again creates an irresistible obligation.
Secondly, the joy of buying is often tied to the ability to post about it. Items are sometimes bought not out of necessity, but to enhance social media content. The priority shifts to posting stories or photos, and once shared, the item is rarely used again.
Thirdly, purchases are made out of fear of having nothing to talk about. New shoes, a new caf©, or a popular concert become essential for conversations. The fear of feeling out of place or alienated drives these non-essential purchases.
Fourthly, the influence of hype leads to immediate purchases. Exposure to reviews, unboxing videos, and positive testimonials creates a perceived need, prompting immediate buying decisions without actual necessity.
Lastly, the habit of paying first and thinking later contributes to financial strain. Frequent purchases of small, seemingly insignificant items can accumulate over time, causing unnoticed depletion of funds.
If individuals find themselves agreeing with more than one of these signs, it might be time to reassess their motivations. Before making a purchase, it is advised to question if the desire stems from genuine need or FOMO. Holding off for 24 hours can provide clarity on whether the item is truly necessary. Trends may come and go, but mindful spending has a lasting impact.