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Mobile social media have become a widespread means to participate in everyday social and professional life. These platforms encourage the disclosure and exchange of personal information, which comes with privacy risks. While past scholarship has listed various predictors and consequences of online privacy concerns, there has been to date no empirical investigation of a conceivable relationship with perceived stress. Using a longitudinal panel study, we examined the reciprocal relationship between mobile social media privacy concerns and perceived stress. Results supported the hypothesis that mobile social media privacy concerns at T1 are associated with higher perceived stress at T2. However, we found no evidence for the reverse association, that is, perceived stress at T1 was not related to mobile social media privacy concerns at T2. The findings are discussed based on two models—the “Antecedents privacy concerns outcomes” model and the “Privacy calculus” model.