#70 Limit FOMO Spending and Level Up Your Communication Skills

Welcome back!

We hope you enjoyed the holiday weekend and had some much deserved time off as we head into summer.

Before we continue, we want to send the utmost appreciation and thank you to all those recognized for Memorial Day.

We’re grateful everyday.

With warmer weather around the corner, we felt it was necessary to include a summer-prep-vibe to this edition in anticipation for it.

So, Cool Communicator and Making Cents are dedicated to prepping for the new season ahead.

Every other section remains status quo…jam packed with short & sweet valuable tips.

Let’s jump in.

👍️ Prepping Summer-You With…

Elevating Your Brand 🤝 

• Always Informed on AI

• Cool Communicating Our Way Into Summer With a Simple Exercise

Fattening The Wallet 💰️ 

• Making Sense Cents of How To Limit FOMO Spending This Summer

Boosting Your Productivity 📊 

• Hustle Hub: The No.1 Tip from a Multi-Milllionaire and Level Up Your Career with CareerAddict

• Convo Starters About The Science of Walking and More

Making Cents 💰️ 

How Should You Limit FOMO Spending This Summer?

Short and Sweet: With summer rapidly approaching, the urge to splurge on experiences and items that "everyone else seems to have or do" can lead to unnecessary amounts of spending.

Use this as your reminder to control FOMO-driven purchases to save money and stress this summer.

Why It Matters: Because managing FOMO (fear of missing out) spending is crucial not only for fattening your wallet, but also for your mental psyche.

It can help you stay true to your financial goals you set and reduces the stress of keeping up with social expectations, allowing you to enjoy your summer more fully.

Breaking Down FOMO Spending:

• Social Media Triggers: Posts that showcase friends’ purchases or experiences can ignite the desire to spend just to feel included.

• Emotional Spending: FOMO often taps into our emotions—envy, anxiety, or the fear of missing out, pushing us to make impulsive buys.

• Event-Driven Expenditures: Summer events like concerts, trips, and dining out can escalate spending as you plan to do a lot with friends or family this summer.

• Peer Pressure: The influence of friends who are less cautious with money can exacerbate your own spending habits.

Take Action: 2 Things You Can Do ASAP:

1. Limit Social Media Exposure: Reduce the time spent on social media platforms where exposure to triggering content is highest. More time offline means less time to feel you’re missing out.

2. Remind Yourself To Say No: You don’t have to say YES to everything this summer. Choose carefully and enjoy the times when you do splurge, but you don’t need to do everything because everyone is doing something.

An OTF-ChatGPT-Example:

Imagine you're scrolling through social media and you see friends at a pricey music concert vibe, sporting new outfits, spending on lavish drinks and who else knows what.

The urge kicks in to join them—or at least shop for that moment they’re having. This is FOMO spending: it's spontaneous, and often inspired by social media, and could disrupt your cash flow and budget.

(PSA - We’re NOT looking to tell you to not enjoy summer and kill your vibe. Our angle is to remind and help you to avoid the FOMO-spending that can occur as summer approaches.)

Hustle Hub 📈 

• THEIR SUCCESS: Want to be a multi-millionaire? Yes, you read that right. Here is the No. 1 money tip for new college grads from a self-made millionaire.

• YOUR SUCCESS: Got milk skills? Check out these 6 in-demand freelance skills, one paying up to $250 according to Upwork.

• THEIR YOUR SUCCESS: If you’re looking to level up your career, we partnered with CareerAddict, and they write The Dose, a newsletter with 40k+ subscribers that “provides weekly hacks and inspo to level up your career.” They have been featured on Business Insider, Fox Business, and Yahoo! Finance.

For More on CareerAddict:

Reach your career goals 🏆

Career planning can be tricky - especially if you feel stagnant in your job 👎. This is where CareerAddict can help you reach your career goals in 5 easy steps!

Their career planning guide offers tips and tricks on advancing your career, plus templates to jot down all of your bright ideas. 💡 

Grab your career planner → here

Cool Communicator 💯 

Found this gem over the weekend.

Normally our Cool Communicator section comes with written words where we share tips on how to improve your communication skills.

We’re feeling spontaneous this week and decided to share it in a different format.

**Video Alert**

Here is a “Simple Exercise to DRASTICALLY Improve Your Articulation!” - from YouTuber, Vinh Giang, who has 1.5M+ YouTube subscribers.

He is a Communication Skills Coach and works with clients such as Facebook, Microsoft, HSBC, and more.

Convo Starters 👀 

• Self-Interest: How much do you know about walking? Let us be more specific, how much do you know about walking 10,000 or 20,000 steps a day? Talk about the science about it.

• Human Interest: Need some inspo on where to go this summer? Talk about these 40 underrated destinations in the US from Good Housekeeping.  

• Artificial Interest: Talk about what TikTok shared on rolling out an AI assistant and other AI tools toward platform advertisers.

Always Informed 🦾 

Have you ever heard of the company Nvidia?

They’re publicly traded that had ~$27B (yes, billion) in revenue at the end of 2023 and have nearly 30,000 employees. They are a huge player in the AI space and apart of the S&P 500.

Aside from being a software company that supplies application programming interfaces and other products, they’re a dominant supplier of artificial intelligence hardware and software.

With That…

They are a company to keep at the top of mind when it comes to AI.

Here is a direct synopsis on how they are performing from our favorite AI newsletter, Superhuman.

“Nvidia had a lot to live up to. It’s practically carrying the AI world on its shoulders with the state-of-the-art chips that power most of today’s big models. At its earnings report Wednesday, the company not only surpassed forecaster’s predictions but posted a quarterly revenue of $26 billion — up 262% from a year ago.

Some context: In early 2023, most people thought of Nvidia as just another chip developer. That all changed when tech companies started to release the first ChatGPT rivals later that year. Nvidia’s graphics processing units (GPUs) happened to be especially good at training AI models, and demand shot through the roof. Nvidia never looked back: The company now has a market capitalization of over $2.3 trillion, putting it behind only Microsoft and Apple.

Why it’s important: Nvidia now has the power to literally move markets. It’s estimated that the California-based firm was responsible for 2.5 points of the S&P 500’s 10.3% growth this past year. As Bloomberg recently put it: “One company’s results have come to have the kind of impact normally reserved for macro events like monetary policy shifts or financial crises.”

😲 😲

Before You Go

It’s me, Dan Healy, the founder of this newsletter.

As you may recall from last week’s edition, I am currently on a cross country road trip since moving out of California.

In the last 3 days we’ve been to Vegas, Arizona, Idaho, Utah, Wyoming, and Montana.

My favorite so far? Idaho. More specifically, Driggs, Idaho. What an underrated state. From the scenic views to the simple pace of life, it’s a place to go visit in my opinion.

Tomorrow, I head to Colorado. After that, we plan to head to Missouri and Ohio for a night or two. Should find our way back east by this weekend!

See you next week!

You are now On The Fly and In The Know