3 Ways to Use FOMO To Become Financially Free
Here are 3 Ways to use FOMO – Fear of Missing Out – to become financially free.
The past few months there has been a group of day traders putting up large amounts of money on options and stocks.
One is doing so well, and sharing their screenshots, that it has created FOMO – Fear of Missing Out – for others watching.
Look at the price of GameStop’s stock (GME) which shot up from averaging $3 – $5 to over $400/share!
A trader in a WallStreetBets reddit group named DeepF*******Value has been sharing his screen shots of his Call option (a call option is basically placing a bet that a stock price will go up by a specific date) on GME, since 2019.
When he turned US$53,566.04 almost 1 Million dollars, he got some people’s attention.
His account was worth over $3 Million dollars by January 11, 2021.
These kinds of results are getting people urgently jumping in the stock market, and into the group wallstreetbets, to see if they can get the same results.
This type of FOMO behavior is not good for most people, who don’t really know how to invest and are going to be gambling their money away.
However, I want to share with you another side to FOMO.
I used the Fear of Missing Out to push me to get better with money, and create more time freedom and a better lifestyle for myself.
#1 FOMO Your Motherhood (or Fatherhood)
Back in 2011 I was in debt (over $40K) and working a job that I didn’t want.
What I really wanted was to have a family.
Well, I got on the path to Financial Freedom and by 2016 paid off all my debt, improved out family’s Net Worth be half a million dollars and was making almost $500/month in passive income.
But, most importantly, I quit my job and became a full time mother.
My son Jordan was 3 years old at the time.
It was one of the scariest things I’ve ever done, to leave a good job to stay at home and get to be a Mommy.
However, the FOMO on Jordan’s childhood was stronger that my fear of leaving the job force.
Financial Freedom became a NEED for me, because I wanted to spend time with my son and ENJOY it.
If you have children and you are working full time then you know what I mean.
You are never with your kids, and when you are you are busy and tired.
I wanted to really have fun with Jordan and being a mother.
Use this FOMO to motivate you to become financially free.
#2 FOMO a Great Husband/Wife/Partner
I know a lot of people who are divorced or single from broken relationships.
I love my husband and my marriage.
Working a job full time and then raising a baby gave me FOMO on having a great relationship with my husband Jomel.
I spend time writing love notes, talking to him on the phone when he’s out, sending him pictures during the day and going on dates every week.
I have to have time freedom, and financial freedom, so that I can take the time to cherish and love my husband.
Do you love your marriage?
Use FOMO on a great relationship with your husband/wife/partner to get you Financially Free!
#3 FOMO Your Contribution to the World
When I worked at the bank I knew it wasn’t my dream job.
I knew I wanted to make a greater and better contribution to the world and to grow myself as well.
The FOMO on being the best I could be got me very focused on Financial Freedom.
Now I spend my time blogging and coaching clients to become Financially Free and I LOVE IT.
I also manage our growing businesses.
I love business, investing and helping others have more free time and a better lifestyle.
It’s rewarding, fulfilling and fun!
Use FOMO on your great contribution to the world to motivate you to become Financially Free!
Conclusion
Recognizing FOMO is important.
In the case of day trading GME or any other stock, it’s important to understand if what you are doing is really going to help you financially.
The steps to Financial Freedom that I know are paying yourself first, investing for passive income in conservative investments, and growing businesses.
They may seem boring to someone out for the big score, but I’m the one living in paradise, enjoying beaches and spending time with my family.
Are you?
Take the steps to become financially free and make FOMO your friend.