Social media probably plays a huge role in your life (even if you wish it didn’t). Who else was taken aback when they saw their “screen time” start magically appearing on their phone? Social media is, for the most part, where we see the absolute best parts of people’s lives and if you’re not careful, confident, and secure it can create some serious envy. Social media took the phrase “Keeping up with the Joneses’” (yeah there was something before Kardashians!) and amplified it by millions. But social media is a double edged sword and for all the debt it has the potential to persuade you to take on, it can also inspire you to live a life of financial freedom. Below are 5 tips on how to change the relationship between social media and your wallet…
Streamline your feed: Social media is full of people who provide money saving tips for just about anything you could possibly be interested in. Add them to the feed and limit what you see from people or brands that might tempt you into making purchases you’ll regret. You’ll be surprised how satisfied you feel when you aren’t bombarded by temptation all day.
Learn new skills: Social media is a great place for DIY tutorials and ideas. Things that you might have spent money on previously, you can now update or repair yourself. It’ll also give you an outlet to show off your new handiwork.
“Experience” over “things”: “Insta-worthy” moments can be absolutely free. That selfie of you and your friends sitting around outside is much more likable than a picture of an outfit that you broke the bank on, and all the likes in the world can’t compare to a good laugh surrounded by people you love.
Reviews are in: Social media is a great place to read reviews. Search a company tag before making a large purchase, and you’ll see real life pictures of products you’re interested in and get to read what real consumers are saying about them. It’s a great way to “see before you buy.” If you are going to spend a large sum of money, it can help you feel confident in your purchase.
Boost your credit: Yep, you read that right. Credit education services are everywhere, even on social media. By following them, you’ll continue your financial education and make smarter money choices in the future.