The Hidden Cost of Financial FOMO: Why I'm Taking a Break from Money Talk
Reading through financial forums lately has become a peculiar form of self-torture. Between the endless parade of inheritance announcements and the “humble” brags about astronomical salaries, it’s starting to feel like scrolling through Instagram’s highlight reel - but with dollar signs instead of sunset photos.
The other day, while sipping my morning batch brew and scrolling through yet another post about a 30-something receiving a generous inheritance, something clicked. These forums have morphed into a strange kind of financial voyeurism, where we peek into others’ monetary lives, often to our own detriment.
Let’s be real - the internet has a way of distorting reality. For every post about someone landing a $500k job straight out of uni, there are thousands of us quietly grinding away at regular jobs, paying our bills, and trying to build something meaningful. The comments section often turns into a parody of itself, with users one-upping each other about their supposed wealth, while the rest of us scroll on, feeling increasingly inadequate.
Living in a city where the median house price could buy a small island nation doesn’t help. Every time I open a real estate app (which is embarrassingly often), I’m reminded of the growing gap between wages and housing costs. The “Australian Dream” seems to have evolved from owning a modest home to inheriting one - or having parents wealthy enough to guarantee your loan.
But here’s the thing - this constant comparison isn’t just unhealthy; it’s counterproductive. While some forum members suggest “just earning more” or “making better choices” (thanks, I never thought of that!), the reality is that systemic issues can’t be solved with individual bootstrapping alone.
The comments that resonated most with me were from those acknowledging the toxic nature of constant financial comparison. One user wisely pointed out that we can either respond to others’ success with bitterness, vanity, or non-attachment. choosing non-attachment seems the healthiest path.
The real estate sites and financial forums are going to be deleted from my phone today. Not because I’m giving up on financial goals, but because I’m choosing to focus on what I can control. Instead of doom-scrolling through property listings, I’ll be putting that energy into upskilling and contributing to discussions about meaningful economic reform.
Maybe it’s time we all took a step back and questioned whether constantly measuring our worth against others’ financial milestones is serving us well. There’s a difference between seeking financial education and engaging in what essentially amounts to monetary masochism.
For now, I’ll stick to my ETFs, make my super contributions, and work on building skills that might lead to better opportunities. And perhaps most importantly, I’ll remember that my worth isn’t determined by the size of my portfolio or the absence of a property title.