Breaking News! Trending Tweet! Stock Tip! Pyramid Schemes!

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We are surrounded by all of these all the time due to which we often catch ourselves in a sea of confusion. Don’t worry, in today’s digital age you are not alone, it is easy to get swept up in the frenzy of financial news, market tips and social media trends but with a few tricks you can avoid the financial FOMO and filter out the noise like a pro.

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Let’s say you scrolling through your favourite financial forum and you land upon a hot tip about a stock that it expected to go through the roof. You start feeling that you need to ride the wave before its too late but wait a minute, take a step back and think: are you making this decision based on research and analysis or are you just caught up in a moment of excitement.

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Now let’s take another example, say everyone around you is caught up in the frenzy of a new app or scheme which doubles your money in 20 days. You see everyone around you cashing in on this and you are left wondering if you are missing out on something great. But here’s the thing: this FOMO can sweep you off your feet and take you miles away from your financial goal. FOMO is not your friend; it is that trend that convinces you to make Dalgona Coffee even though you hate coffee.

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Remember Laxmi Chit Fund from Phir Hera Pheri? it's a stark reminder of how enticing promises, like doubling your money in 21 days, can lead individuals to make impulsive decisions. The characters in the movie were lured by the quick riches and borrowed money to invest in it without thorough consideration. However, when the promised day arrived, the company had vanished, leaving them empty-handed. This cautionary tale highlights the importance of conducting thorough research and analysis before succumbing to FOMO-driven investing trends. Just because something appears attractive or others are participating doesn't automatically make it a wise choice.

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But fear not, because there is a way to not get caught in the wrong trend and ride the wave of financial FOMO which is suitable for you. It is called filtering out the noise. Start by setting clear goals and stick to your investment horizon. We would not just go in a swimming pool without knowing how deep it is, would we? The same goes for financial information. Instead of blindly following the crowd, take the time to filter out the noise and focus on the information that is actually relevant to your investment strategy. Do not let the short-term market fluctuations or the latest investment fads sweep you away from your ultimate financial goal. Always remember that just because everyone else is riding a particular wave does not mean it is the right wave for you as well.

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In conclusion, when it comes to navigating the waves of financial FOMO, knowledge is power, but perspective is the key. And if you ever find yourself getting swept by the tide of FOMO, take a deep breath and question yourself “Is this wave the right one for you?”

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