Manage FOMO: Practical Decision-Making book summary

Ever wondered how did the term "FOMO" comes about? Being crippled by Fear of Missing Out causes you to not make practical decisions in a world of overwhelming choices.

FOMO describes the decimating anxiety when thinking other people are having better, more fulfilling, experiences than you are. It's a natural, biological response, but that doesn't make it feel any better. Alarmingly, it has become a cultural crisis.

Patrick McGinnis, creator of the term FOMO, has a solution to manage this anxiety.

  • Learning to weigh the costs and benefits of your choices
  • Prioritizing your decisions
  • Listening to your gut are central to silencing FOMO and its lesser-known cousin, FOBO: Fear of a Better Option.

Here is the summary for Fear of Missing Out: Practical Decision Making in a World of Overwhelming Choice to help you ascertain and eliminate the parts of your life that are causing more anxiety than happiness.

Begin with an end in mind

  • Know my priorities and commit fully to what I should be doing instead of what I could be doing with conviction
  • Be on guard for triggers and distractions
  • Focus on what truly matters and let go of everything else
  • Sweat the big stuff only
  • Categorise issues into high stake, low stake, no stake decisions

Manage FOMO

  • Exercise judgement with facts based on data from multiple sources, not emotion or speculation, to expand my perspective
  • Keep an open mind. Don't fall in love with whatever is giving me FOMO or presume a given outcome
  • Know what matters. Set a criteria to determine if an opportunity meets my objective
    • List down reasons why you want to do this
    • What is the opportunity cost
    • Can I see a ROI on this choice
    • Can I make it happen at low cost
  • Write down my findings, and make an informed conclusion

Manage FOBO

  • Eliminate all options and pick the ultimate choice, by setting criteria to frame your decisions based on what is important to you
  • Manage factors that will lead you astray
  • Act with conviction on what you will do

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