You’ve been financially FOOLED by social media

do your future self a favor and work hard today do your future self a favor and change what you're doing now welcome to my channel if you're new here my content is surrounded by finances and psychology if this is something that interests you hit the Subscribe button down below whenever we take a look at social media we can see that they are purposely trying to get people to spend I mean these companies are spending millions of dollars on not only marketing agencies marketing professionals they're also spending millions of dollars on psychologists who are in there who understand your brain who understand how your brain works and who work together with marketing for colors and sounds and those types of things in order to get you to spend more money now social media began back in 1997 with the first sights being Myspace six degrees and since then in 2023 it has come an extremely long way with over 4.9 billion users currently on so social media networks it is one of the largest things in this generation that has completely reformed Society also in 1997 the average household income debt according to credit cards was roughly three thousand five hundred dollars and in 2023 it is now over nine thousand dollars this is just the average consumer household credit card debt now I know initially I thought this could possibly be due to inflation however inflation calculator proved otherwise leaving still a gap of over three thousand dollars unclaimed for excess debt now obviously in 1997 they didn't have iPhones they didn't have smartphones and now in 2023 not only do parents have smartphones the kids have smartphones everybody has a smartphone and your smartphone costs roughly 1300 bucks now typically people don't go to the store and just whip out 1300 bucks and pay for their new iPhone or Samsung Galaxy they typically get it on their self phone plan and then pay for it monthly this is contributing to the increase in debt that's happening right now in 2023 there are other contributing factors but overall I would say social media is one of the biggest impacts on society and Instagram Facebook Twitter these sites are completely free to download and there's a reason for that because advertisement agencies are what is funding these companies in fact research proves that over 90 percent of Millennials admit to overspending when they get on social media at this point it should be basic common knowledge that anytime you're around your phone on your phone hit that Chrome browser hit the Facebook Twitter Snapchat Instagram whatever it may be they are collecting data in order to spit out advertisements that they feel you will buy and that is just the way that it works is just the way the entire thing is oiled to run and is the whole reason these sites are free for you I think it is important to mention that spending is connected to emotions you will never spend money and not experience an emotion attached to that spending and in today's world you can buy whatever you want with a double click on the side of your phone Apple pay back in 1997 if Susie wanted a prod a handbag she would probably have to travel 10 hours to get it because there was no such thing as getting online and ordering it from your phone or even home computer was not prevalent back then she also had to take a good hard look at who was actually ever going to see that black box of a purse that cost for me okay back then the only people that's really going to see it is the mom group you go hang out with a couple times a week maybe the people at church if you even go the people at the soccer field and the people in the pickup line from school those are the people that's going to see your waste of money four thousand dollar Prada handbag today's world all of the sudden with the click of a button you have access to 5 000 people who should have been been left in your past five thousand people you went to high school with who should stay back in the past in high school in your memory okay that that's where they should stay and now you still have contact with them 10 years later 90 of them you didn't even like but guess what all of them that made you feel some type of way need to know that now you can afford a Prada handbag now all of a sudden those thousand kids in high school that you didn't even like they didn't like you they thought you were a loser you thought they were a loser you want to prove a point so you're going to go out and get your handbag and all of a sudden you want to take a picture with it you want to show them how much weight you've lost you want to show them how many kids you have you want to show them how cute your husband is you want to show them that you're divorced and open for new relationships you want to show them all this stuff and it's tempting to spend money in order to put on a certain Persona on social media Network this is just psychologically proven and again these marketing agencies know that they know that you have emotions attached to the people who are following you into the people you are following and because they know this they prey on those emotions they have people working for them who fully understand those emotions who knows what kind of music will help those emotions pop out who knows just the right color for you to click buy okay so suddenly Susie from 1997 had about 10 people maybe she could ever even show that bag too to 2023 you have 5 000 people instantly with the picture who you could show off your new handbag too and it's cute right you look cute for Billy who just divorced his wife who you want to get back with no that's not cute you know what is cute putting five thousand dollars into a high interest savings account putting five thousand dollars into an ETF because in 10 years your money's gonna double that's cute and forget Billy who divorced his wife these people are supposed to be left in the past and stop using your emotions to want to impress to want to show Jackie from the second grade who treated you bad that you can go to XYZ on vacation I mean who cares this is really what Society has boiled down to now let's go on to the younger generation let's go back even 10 years we've got a 14 year old who lives in peace with her parents at home she's perfectly fine with getting up making her morning breakfast drinking her little juice at home going to school coming back home she may see some things at school she wants she may express that to you it's cool in 2023 logging into Snapchat Instagram whatever they may have all of the sudden all of the cute girls have a venti pink drink from Starbucks that cost 7.99 and guess what they get one every day and they they take a cute little screenshot of their feet with the pink venti drink from Starbucks and now all of a sudden they don't understand why you can't take them to Starbucks every day and spend 7.99 on a pink Drink now all of the sudden you have an emotional tension going on in your home because your immature 14 year old daughte