The Merriam-Webster dictionary came out with their new list of words recently and among interesting words like nomophobia (fear of being without a working cell phone) and farm-share (we call it a CSA) they added the word FOMO.
Now if you’re a hip type individual you’re already familiar with the acronym that stands for the Fear Of Missing Out. I was introduced to this concept by my best friend a few years ago when he was sharing the details of one of his latest travel adventures.
The concept basically describes the idea that we’re afraid of missing out on a fun or enjoyable experience that others are taking part in, often brought about by social media posts. And I thought it was very appropriate to this week’s Debt Free Friday post.
Because I am finding that FOMO is one of the hardest things people deal with when committing to a debt free life. It’s HARD. Debt free living, especially in the beginning, is hard work. And requires a lot of sacrifices. Which is not something anyone enjoys doing.
The sacrifice is absolutely worth it, and for most of us once we start seeing those numbers going down or have to only sacrifice short term it’s doable. But when you’re in it for a 3-5 year plan and are still spinning your wheels at the starting line that frustration can be a huge downfall.
Especially in a culture of instant gratification and social media! It’s easy to justify spending a few dollars here and there to have fun. Or be with friends. Or get that new ____.
Which is part of why I started this post. In part it’s to keep me honest, it’s a lot harder to spend those dollars willy-nilly when I know I’ll be here each week sharing the numbers (THANKS GUYS). But also, because I wanted to be part of the culture that glorifies the sack lunch and at home date nights.
I spend too much time at work seeing the effects of our debt-laden culture. It breaks my heart to see people working their fingers to the bone and having nothing to show for it. Or people who are living ‘the good life’ with smoke and mirrors. I know they’re all one paycheck away from disaster.
I hope this series has helped you guys commit or recommit to a debt free lifestyle. I really hope it’s encouraged you to work towards Baby Step 1 or whatever step you’re on! We need to encourage each other and be visible and share our struggles with each other.
Double pay week! My favorite weeks of the month! It was also nice to see some of my mileage paid this morning. I’ll be working quite a bit at a branch about 35 minutes away. And while I’m not a huge fan of the long commute I am a huge fan of the mileage paid to me. I love driving a small car. So in May, I’ll actually be there every single day.
I love my job (for those of you who haven’t figured it out I work in a bank) and there are lots of opportunities for sales. Finding the balance between making extra money and not selling my soul will definitely be a future post.
I also got my primary check from my essential oils business this week. I love that I make enough to pay off one of my larger credit card bills. I would like it better if I didn’t have to put that money towards credit cards! 😉
This week I paid the last of our April bills and started May. I’m not being too aggressive because I learned my lesson last week with letting the bank account get too low. I’m keeping that buffer in there now so we don’t have to scramble.
I also set aside a little money so I can get some new running shoes. I’ve got my next race in May and my old shoes literally have holes in them. Good running shoes are not cheap and I need good ones!
Debt Free Friday Week 1: The Crazy Truth
Debt Free Friday Week 2: Cash is King
Debt Free Friday Week 3: Life Happens
Debt Free Friday Week 4: It Happens
Debt Free Friday Week 5: Little Update
Debt Free Friday Week 6: Tax Refunds
Debt Free Friday Week 7: Travel
Debt Free Friday Week 8: The Shoe Drops
Debt Free Friday Week 9: Changes Are Coming
Debt Free Friday Week 10: Big Changes
Debt Free Friday Week 11: On A Saturday