Question of the Day

Budgeting #1

How can Facebook

make you poorer?

www.ngpf.org Last updated: 7/26/19

• 57% of millennials spent money they did not plan on spending because of what they saw on social media
• 88% of millennials believe social media creates a tendency to compare their wealth and lifestyle with others

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Follow Up Questions

1. Has social media (Instagram, Snapchat, Facebook, Twitter) impacted your purchasing behavior? How?
2. Name something that you bought after seeing it featured on a social media feed. How soon after seeing it did you buy it?
3. What is it about human psychology that makes us susceptible to wanting to buy something that we see on social media?
4. What are some strategies to help mitigate this effect?