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.