Although the fear of missing out (FOMO) is often perceived as a transient social phenomenon, its pervasive influence on individuals’ psychological, social, and financial wellbeing warrants careful consideration. Research indicates that approximately 69% of people in the United States have experienced FOMO at some point, with millennials and Generation Z reporting similar rates regularly. The phenomenon is particularly pronounced among younger demographics, such as college students, where 15% report weekly occurrences. European data corroborates these findings, revealing that 59% of Polish teens and 67% of social media users in Italy also experience FOMO. Notably, teenage girls tend to report slightly higher rates than boys, suggesting subtle gender differences in prevalence. This widespread prevalence highlights how FOMO affects millions.
FOMO affects most people, especially younger generations, with notable gender differences and widespread social media influence.
The psychological and emotional impact of FOMO is significant, as it correlates strongly with increased anxiety, depression, and diminished life satisfaction. The persistent connection to digital platforms fosters continuous social media surveillance and comparison, intensifying psychological distress, especially among youth. This heightened state of rumination can negatively affect academic performance and overall emotional wellbeing. Conversely, some evidence suggests that FOMO may promote social engagement and a sense of belonging when interactions appear reciprocal, indicating a complex relationship between the phenomenon and social dynamics. However, studies show that FOMO tends to evoke predominantly negative emotions such as jealousy and sadness, further complicating its effects.
FOMO’s connection to social media use is particularly salient, with over 23% of users experiencing anxiety related to social exclusion or the loss of friendships. Approximately 23% of individuals cannot refrain from checking their social media accounts for more than an hour, while 45% struggle to wait beyond 12 hours. Features such as ephemeral stories and tagging exacerbate FOMO by creating urgency and social pressure. Additionally, exposure to influencers fosters parasocial interactions that may either enhance or undermine wellbeing depending on context.
Financially, FOMO influences consumer behavior, with 69% of millennials admitting to overspending to avoid missing out, and nearly 40% incurring debt to maintain social parity. Purchases driven by repeated social media exposure occur in 37% of cases, while 55% of people spend money on live events such as concerts due to FOMO pressures. Businesses strategically exploit these tendencies by emphasizing real-time sales and social proof to augment conversions. Overall, FOMO’s effects on social, psychological, and financial wellbeing underscore the need for awareness and coping strategies to mitigate its potentially adverse consequences.
