Peer pressure
Peer pressure can be felt everywhere, from school and college to work; and as if that was not enough in real life, we also have to deal with the peer pressure in the online world. People go the extra mile to show off their new cars, gadgets, clothes, exotic holidays to their online friends, like it’s a competition about who’s having the best time and best life.
Whether it really is a competition or not, most of us have fallen victim to this trend and before we know it, we entered our credit card details to buy a new dress, phone or plane ticket to some remote destination, just like we’ve seen on social media.
Have you derailed your savings plan? Sure, but aren’t a few duckface selfies worth it? You probably know the answer already.
1 thought on “7 Ways Social Media Could Destroy Your Finances”
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.