ST. CROIX INSIGHTS

Does Social Media Make You Spend More Money?

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

I wonder if we started to post real life on Facebook, LinkedIn, and other social media platforms, would our outlook on our daily lives improve? Would our attitudes, opinions, or even our spending patterns change?

Stress Free Living

Amit Sood, M.D. in his book Guide to Stress Free Living says “our wants are often guided by the belief of what others think we should have rather than by what we truly want”.

Social Media & Spending

Do you find yourself wishing it was you purchasing that new home or car, or traveling on that trip round the world, when you see others posting on social media? I’ve caught myself thinking ‘wouldn’t that be nice?’ But darn it, I already have it nice. Rarely I see people posting information about laundry that needs to be done, or pictures of dishes in the sink, or bathrooms that need to be cleaned or beds that need to be made (maybe that’s just in my house) on social media.

“Most vacations, fun expeditions and leisure activities eventually lose their charm ”

Just last week someone told me that they thought their vacation was a few days too long. Hard to believe, but it’s true. I suspect you’ve experienced this yourself. Many individuals enjoy what they do for a living, find value and purpose. Work has meaning. As humans, we search and seek meaning. For 99% of us, even if you don’t or wouldn’t want to, you can’t golf every day.

Focus on Simplicity

So I just wonder if social media causes us to purchase things we don’t really need or want. Does it increase our wants and desires? Do we spend money because we are trying to keep up with not only our neighbors but now our entire networks? Maybe we need to only worry about our ourselves and our family and not the Jones’ and our extended social network. Let’s refocus on keeping it simple…and real.

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