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Instagram and TikTok make us unhappy by causing bad financial decisions

Seeing the lifestyle of influencers can lead us to make bad financial decisions. | Font: pixels

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There’s no denying that social media influences our lives, but research bank rate shows that it is more than we think.

View messages on networks such as Instagram D tik tak other people accounted for 34% of adults surveyed by the company in USA have negative feelings such as jealousy, anxiety, shame, anger and others.

Social media creates insecurity

Other people’s posts social networks they usually don’t reflect reality, who would want others to see the negative side? This causes the people who watch them to have a negative attitude towards various aspects of their lives:

  • 34% on your finances.
  • 32% on their appearance.
  • 27% in his career.
  • 26% for your home.
  • 25% on your personal relationships.
  • 17% about their hobbies.

Instagram and TikTok influence Millennials and Generation Z more

According to research bank ratealmost half millennials (from 26 to 41 years old) and Generation Z (18-25 years old), feels bad about his finances after seeing other people’s posts on social networks.

Among millennials, it reaches 46%, and in Generation Z slightly increased to 47%. call Generation X (from 42 to 57 years) was much less ill 31%, while in baby boomers (from 58 to 76 years old) this percentage barely reaches 22%.

These representations in social networks they also affect children. 64% of parents of minors said that social media contributed to their children’s unrealistic expectations about money.

Another uncertainty is related to appearance, which affects 49% of young people in Generation Z who views other people’s posts on social networks. This, like financial uncertainty, softens over the years.

Instagram and TikTok encourage impulse buying

49% of respondents bank rate He assured that he made impulsive purchases of goods that he saw on social networks.

64% of those surveyed who made such a purchase regretted it at least once.

Again, Generation Z was hit the hardest, with 66% saying they made an impulsive purchase of a product they saw on social media.

Influencers and their role

“Influencers play a big role in making impulse purchases on social media. Many people believe that they too can be glamorous if they have the desired swimsuit or pair of shoes. Social media marketing and the buy-now-pay-later industry have come together to make it easy to achieve that illusion of perfection with four interest-free installments at once,” said Ted Rossman, senior credit card industry analyst.

Source: RPP

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