Can Social Media Make You Poorer?

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Sun, 10/07/2018 - 5:47am

Can social media make you poorer?

Here are three of the week's top pieces of financial advice, gathered from around the web: Social media can make you poorerSites like Facebook and Instagram are sending young people's "bank balances and moods plummeting," said Catey Hill at Moneyish​. More than 50 percent of millennials admit to spending "money on something they hadn't planned to" because of social media, according to a new survey by Allianz Life, compared with 28 percent of Gen Xers and only 7 percent of baby boomers.

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