Posts tagged Social Media
Instagram Leads to Overspending for Emerging Generations

Does scrolling through your Instagram lead to overspending?

Paul Davidson of USA Today reports:

Thirty-five percent of Americans admit they feel pressured to spend more than they can afford after seeing images of their friends’ lives on sites like Facebook and Instagram, according to Schwab’s 2019 modern wealth survey. The FOMO effect is most dramatic for young adults. About half of millennials and 44% of Generation Z (those born approximately between 1995 to 2015) acknowledge their spending habits are at least partly shaped by social media.

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Field Notes on Social Media

We have just passed high school graduation season, and several young friends of mine have now doffed cap and gown and processed to “Pomp and Circumstance.”

Graduation parties have also taken place. While attending a celebration for a former student, Oliver and I discussed Snapchat. Very casually, this eighteen-year-old told me, “Yea, I don’t even really check Snapchat anymore.” I wondered why, so he enlightened me.

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