7 Ways Social Media Could Destroy Your Finances


No doubt about it, social media is part of our daily lives and has brought major changes to the way people communicate and stay in touch, from face-to-face to screen-to-screen. You’d have to live at the top of the mountain or in some Amazonian rainforest to not have access to social media, and even there, you’d still be able to find reception.

From ordinary people to organizations and businesses, and even government agencies, everyone wants to keep track of news, changes, offers and trends. While social media does have its benefits, it can also have adverse effects and take a serious toll on one’s finances. Just think about how many times you’ve reached for your wallet and purchased something after a scrolling session on your friends’ social media profiles?

Most people might not see it yet, but social media is fast becoming a money black hole, especially among the younger generations. Read on to find out how social media could destroy your finances without you even realizing it.

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1 thought on “7 Ways Social Media Could Destroy Your Finances”

  1. You omitted part of the ’employment’ risk of social media. Some organizations have policies – which are legally enforceable – stating that social media posts by employees can be grounds for dismissal. This could be for a number of reasons, such as sharing confidential company information or even just ripping the place up online. Like “I work at the ABC Medical Hospital and let me tell you they do not care about the patients. The hospital president is only concerned with making a lot of money and the doctors are terrible.” Kiss that job goodbye, and hope your NEXT employer doesn’t find out why you’re not with your previous employer anymore.


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