We've all been there. Scrolling through Instagram on a Friday night seeing photos of friends and influencers sipping cocktails. But rather than longing to be out, perhaps you feel a sense of contentment for staying in. You’ve got a textbook case of JOMO: Joy of Missing Out.

JOMO is the refreshing counterpart to anxiety-inducing FOMO (Fear of Missing Out), and embracing it can help you focus more clearly on yourself, rather than making you feel pressure to follow the crowd. Here's why swapping FOMO for JOMO can be a smart move for your money and beyond.


Giving into impulse spending is a great way to drain your bank account. Conversely, practicing JOMO builds willpower. "Not giving into financial desires can build self-discipline that will not only help your wallet, but also other areas of life," says clinical psychologist Dr. Wyatt Fisher.

"If you can practice resisting this urge, you’ll also find more success delaying gratification,” says financial coach Michelle Waymire, founder of Young + Scrappy. “You’ll avoid emotional impulse buys and reduce stress spending."


When you're in your 20s and 30s, you're more prone to making money-based decisions because of FOMO. "Millennials are three times more likely than Boomers to splurge on a vacation or dinner out because their friends were going, and three times more likely to derail savings because of something they saw on social sites," says consumer finance expert Andrea Woroch.

Not letting outside influences dictate your spending can bring big financial wins. "FOMO shifts your money away from your priorities to someone else’s priorities," Waymire says. "Embracing JOMO frees up cash to spend on the things you actually care about, whether that’s saving for a big trip, buying a new car or putting money away for retirement."

So set financial goals that fit your priorities and your budget. Instead of viewing your decision as “missing out” on something, look at it as an opportunity to plan and budget for the things you really want, says Gage Kemsley, vice president of Oxford Wealth Advisors in Rio Rancho, New Mexico. 


Swapping FOMO for JOMO can be a transformative experience for your self-esteem. "FOMO can often be a result of seeing what other people on Facebook or Instagram are doing or buying," Woroch says. "You may feel like your life doesn’t live up to theirs, and this may cause you to go on a spending binge."

Remind yourself that social media typically only shows people's highlight reels and shouldn't be a baseline for comparison. "If someone makes you feel less than your best, unfollow them," Woroch says. Removing social pressure is JOMO in a nutshell.


In the end, your finances are a game of tradeoffs: By forgoing one thing, you choose something you do want.

Maybe staying in on a Friday night brings you joy because you’ll have the energy Saturday morning to go on a 5-mile run, catch up on some reading and make it to brunch without a hangover. Suddenly, you can't remember why you felt bad about bailing on cocktails.

Clinical psychologist and behavior expert Dr. Ben Michaelis adds that practicing gratitude and focusing less on "stuff" will also make you happier. "When you spend time focusing on what you do have — family, friends, experiences — you tend to feel more satisfied with your own life," he says. By embracing JOMO, you can feel a sense of pride every time you "miss out" on something you don't need or truly want, and instead focus on what's really important to you.

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