Do you ever worry your kids aren’t fashionable enough — that you’ll neglect to predict a new trend or overlook a hot sale? You might be suffering from fashion FOMO, but don’t worry — there’s a cure.
Fashion FOMO is just like regular, old FOMO — a fear of missing out — but rather than worrying about missing an event or experience, it focuses on the contents of your closet. It’s a nagging feeling that other people are wearing cooler clothes, finding better deals, and curating a trendier persona than you.
Giving in to FOMO won’t cure it. FOMO has a constantly moving goalpost — once you snag one object of desire, you’ll set your sights on the next piece and you’ll find it doesn’t give you as much confidence as you’d think.
Aside from feeling self-conscious and unhappy, fashion FOMO can lead to big financial problems. If you aren’t careful, you can wind up spending more than you can afford and feeling even worse than when you started.
How to Put an End to FOMO
The good news is you can take steps to put an end to ethical luxury fashion FOMO from taking over your finances.
Set a Budget
Know your limits. Shopping only becomes an issue when you overextend your budget. Try to budget just one percent of your household income on your family’s clothes.
Treat Your Credit Cards Like an Installment Loan
Credit cards make it easy to spend money you don’t have. To keep your spending in check, try to reframe your relationship with the plastic in your wallet. Treat it like an installment loan.
- Use Them Sparingly
The online installment loan experts at MoneyKey suggest only borrowing money in unexpected emergencies when there are no other options. Only reach for your credit cards when you need to replace outgrown clothes or damaged shoes. Otherwise learn to make do with what you have.
- Pay off Your Entire Balance
Credit comes with a minimum payment, which keeps your account in good standing, but it won’t pay off your debt effectively. An installment loan, on the other hand, doesn’t have this option. You either make your full payment on time or face the consequences. Pretend your cards have the same policy and pay off your full balance each time.
Trade or Buy Second-Hand
Buying second-hand can help you fill your closets at a fraction of the price of new items, and they’re just as trendy. For a completely free way to update your family’s wardrobes, organize a swap meet where you can trade gently used items for new-to-you duds.
Unplug from Social Media
Facebook, Instagram, and TikTok can ramp up feelings of FOMO if you follow influencers and trend-setters. Consider unfollowing accounts that trigger your insecurities, or, better yet, log out completely.
Keep a Gratitude Journal
When you’re busy focusing on what you don’t have, it’s easy to ignore all the wonderful things in your life. Get into the habit of writing them down. Seeing the blessings in your life on the page can help you stop comparing yourself to others.
FOMO Be Gone!
It’s normal to feel a little bit of envy over designer clothes and stylish looks, but it shouldn’t cause you to go into debt. If you feel like FOMO controls your family’s budget, remember these tips to help you stop your fear of missing out from running away with your money.