Bankrate recently conducted a study that found millennials are 64% more likely to feel pressured to overspend compared to older generations. Much of this pressure stems from friends and social media — leading to a ‘fear of missing out’, or FOMO. These issues also include college student’s spending habits. Bankrate created a guide to help millennials manage their spending habits while combating FOMO by offering different financial tips and tricks. Additionally, they provide helpful options for those who may already be knee-deep in debt.
Their tips include:
- Reduce Social Media Presence
- Stick to a Budget
- Prioritize Activities
To learn more about there survey and the solutions visit: https://www.bankrate.com/credit-cards/overspending-millennial-overcome-your-fomo/