Why social media = big losses for many investors
What’s the most important financial skill to have these days?
Saving or budgeting?
Those are useful, but they may not be as crucial as controlling your FOMO (fear of missing out), especially on social media.1
FOMO stoked by social media gets a lot of investors spending, embracing scams, and diving head first into so-called “hot” investments.1
Promises of big payouts are the lure, and the catch is losing big bucks in the end.1
Control your FOMO, and you can put these impulses to rest.
That’s just one way to steer clear of the financial pitfalls associated with social media.
For more ways to protect your $$, click here:
Learn why believing a “finfluencer” could derail your finances and how to avoid it.
Sources
1. https://www.cnbc.com/2022/10/30/fear-of-missing-out-can-be-a-killer-for-investors-how-top-advisors-keep-it-at-bay-.html
