Staying Informed or Staying Worried: The Relationship Between FoMO, Social Media Use, and Financial Anxiety During Inflation

Abstract

This study assess the relationship between Fear of Missing Out (FoMO), social media use, and financial anxiety among Pakistani university students during an inflationary period, specifically examining the mediating role of social media use. Rising inflation has increased financial stress among students, while social media exposure may intensify concerns about lifestyle comparisons and economic insecurity. FoMO has been linked to excessive digital engagement and psychological distress, yet its connection with financial anxiety during economic uncertainty remains underexplored. A quantitative cross-sectional research design was employed. Data were collected from 300 university students in Pakistan through convenience sampling. Standardized measures included the Fear of Missing Out Scale (5 items), Social Media Use Integration Scale (10 items), and Financial Anxiety Scale (7 items), rated on a five-point Likert scale. Pearson correlation, regression analysis, and Hayes’ PROCESS Macro Model 4 with 5,000 bootstrap samples were used for analysis. FoMO showed significant positive associations with social media use and financial anxiety. Social media use was also positively related to financial anxiety. FoMO significantly predicted both social media use and financial anxiety. Mediation analysis revealed that social media use partially mediated the relationship between FoMO and financial anxiety. Universities should promote responsible social media use and financial literacy programs. Psychological interventions targeting FoMO may help reduce students’ financial anxiety during periods of economic instability.