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Money Girl

643 - Wise Tips to Manage FOMO During the Pandemic

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.6 • 1.8K Ratings

🗓️ 8 July 2020

⏱️ 20 minutes

🧾️ Download transcript

Summary

Is FOMO (fear of missing out) causing you to take more risks—financial and otherwise—during the pandemic? Laura interviews Patrick McGinnis, who coined the term, about its root causes and wise ways to manage FOMO. Read the transcript. Check out all the Quick and Dirty Tips shows. Subscribe to the newsletter for regular updates. Join the conversation on Facebook and Twitter. Links: https://www.quickanddirtytips.com/money-finance/saving-spending/tips-manage-fomo https://www.quickanddirtytips.com/podcasts https://www.quickanddirtytips.com/subscribe https://www.facebook.com/MoneyGirlQDT https://twitter.com/LauraAdams

Transcript

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0:00.0

Well, hello, hello podcast friends. I'm Laura Adams, your host and

0:09.6

personal finance, author, speaker, and consumer advocate who's been producing the Money Girl

0:14.4

podcast since 2008. Thank you so much for downloading the show and spending a little time

0:19.6

with me today. As the country continues struggling with the spread of coronavirus, the desire to get back to normal and see your friends and family is understandable.

0:30.0

I'm dealing with it myself. There's no denying that wearing a mask is critical, but it can also

0:35.2

be unpleasant, especially during the hot humid summer months. I think the combination of fewer

0:40.9

restrictions, mask fatigue, and the desire to get out of your home can be

0:46.3

deadly if you're not extremely careful. Another underlying issue contributing to

0:51.8

the pandemic is FOMO or the fear of

0:55.2

missing out. When we get invited to a party or we see other people going out for

1:00.8

drinks or to a restaurant, we don't want to be left out. I've had to

1:05.1

turn down invitations that I really didn't want to turn down, but I did so for my

1:11.0

safety and everyone else's safety. The pressure may cause you to take risks

1:16.6

that you shouldn't if you're not making the best decisions.

1:21.1

This week I interviewed Patrick McGinnis. He's the author of Fear of Missing Out, Practical Decision Making in a World of Overwhelming Choice.

1:30.0

He's an international venture capitalist who also coined the term FOMO when he was a student at Harvard Business School.

1:38.0

FOMO has since become a part of our cultural lexicon and even added to the dictionary.

1:44.0

Patrick has been featured in a lot of places, the New York Times,

1:47.5

Politico, the Financial Times, The Guardian, Inc.

1:50.7

He even gave a popular TED Talk in 2019 and I've had him on the show, I guess it was back in 2017.

1:58.0

And on the Money Girl Podcast this week, Patrick and I discuss the downsides and the upsides of experiencing FOMO

2:06.9

in light of the pandemic. We cover a variety of topics including how the word

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