The Fear Of Missing Out (FOMO) is causing Minnesotans to spend nearly $3k per year according to the latest study by Couponing101.com. This campaign achieved some fantastic coverage on KARE TV, which you can check out here!
The following comes from our release:
Have you ever said yes to attending a social event even though your bank account says no?
FOMO – Fear of Missing Out – is a very real phenomenon that affects people across the nation, as well as their wallets! It refers to the deep feeling of envy you get that other people are having more fun or experiencing better things than you. This sensation is often exacerbated by social media platforms, which can have a significantly negative effect on your self-esteem if you are constantly exposed to the event you feel you’re missing out on. In fact, the concept of FOMO is so widespread that in 2013, the word was officially added to the Oxford English Dictionary!
Money-saving and coupon advice website, Couponing101.com, conducted a survey of 3,500 people to investigate just how much they are spending to avoid the feeling of FOMO, as well as how many overspend on payday leaving them strapped for cash for the rest of the month. It was found that overall, Americans admitted they would spend 8.2% of their salary in order to avoid the feeling of FOMO.
This is the equivalent of $326.04 per month and a whopping $3,912.50 per year!
Broken down across the nation, it seems Rhode Islanders admit to spending the most (26.7%) of their monthly salaries in order to avoid FOMO. This is the equivalent of $1,112.89 per month and a startling $13,354.67 per year. By comparison, Alaskans are least affected by FOMO, spending just 2.5%, which is the equivalent of $116.54 monthly and $1,398.50 per year.
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