The financial pressures of social media
Social media has transformed the way we see things and how we share things. It’s important to understand our true identity vs. digital identity and how social media impacts us in order to keep balance in the digital world.
Have you ever scrolled through your social feeds and saw something that you wanted? Or saw photos of what your friends were doing such as a recent vacation or night out and started comparing your life to theirs. For many, the answer is yes.
Social media has transformed the way we see things as well as how we share things. The digital world allows us to capture every moment on camera and social media has caused us to feel the need to share all of these experiences. How much of what we share though paints the full picture of our true selves?
In reality, what we share on social media is what we want others to see – the food we’re eating, the vacations we’re taking and all the family and friend experiences we’re having. We create a digital identity that often differs from our true identity.
What’s not being shared is those not-so-good things, our behind the scenes – the food mishaps that caused for that pizza to be ordered, the credit card debt we have from going on that vacation or the meltdown we had trying to get our child out the door to their activity on time and realizing team fees were also due that day. We create a false sense of reality and the picture we’ve shared is only giving part of the story to those seeing it.
Outside viewing in
From the outside, when seeing these photos we tend to forget that there’s more to the image than what we’re seeing. Most often, we forget to look at the fuller picture and make ourselves believe what we see is a reality. We don’t think about all the unknown behind the scene details. We start to compare our own lifestyles and experiences to those of others and at times, start doing things outside of our comfort zone to keep up with those around us. We then share these experiences on social to show that we are doing fun, exciting things as well, creating our own digital identity.
It becomes a domino effect. Just like you’re feeling the pressure to keep up and share all the ‘fun’ experiences, others – including those you’re trying to keep up with – are watching your feeds and feeling the same pressures to keep up with you. The cycle is never-ending as everyone continually tries to keep up with others and at the same time, fails to provide some of the truths of the behind-the-scenes.
This never-ending cycle can impact us mentally, emotionally and financially. It’s important to stay focused and live the way that works for you, not the way others make you feel you need to live or how you feel you need to share with others. Here are a few tips to staying balanced in today’s digital world.
- Know the difference between a want and a need. Do you really ‘need’ that pair of shoes you saw on Instagram? Before making a purchase on something you saw, ask yourself if it’s a want or a need? How will it make you feel and will this feeling last or be short-lived? Asking these questions help you be mindful when shopping and could prevent you from making a purchase spontaneously that you later regret.
- Don’t just do it to check off the box. We grow up thinking we need to check the box based on where we ‘should be in life’. We find ourselves trapped by the mindset that we should have the house, the car, the family, etc. by a certain age, especially if we’re seeing our friends doing it on social media and it can normalize the movement of over-spending. Reality is we’re all at different life stages and all have different goals and priorities. Just because someone else is checking that box doesn’t mean you have to do so as well. Remind yourself of this and do things on your terms – when you’re ready and feel it’s the right thing for you mentally and financially.
- Quit comparing yourself to others, especially financially! Do you actually know how much each one of your friends makes? Most likely not, yet we make assumptions and then compare ourselves to them. We think ‘well I make about the same as so-and-so, so I too should be able to take a hot vacation each year’. This creates an unhealthy relationship of what reality is, as we don’t really often know the behind-the-scene details. Instead of comparing yourself and keeping up to what others are doing, understand your well-being and set goals for you. Taking a hot vacation may be possible every year but do it on your terms and ensure you create a financial action plan to help you achieve this goal.
- Be present and make personal connections. Our digital identity is just one piece of the story. By being present and interacting with friends outside of the digital world, you’re able to connect with their true identity. Often times, you’ll start to see the fuller picture of those posts – the behind the scenes – and get a better sense of the true reality of what’s being shown.
Social media impacts everyone’s mental, emotional and financial well-being differently. Understand how it affects you personally and be conscious of this next time you’re scrolling through your social media feeds. Remember that what you’re seeing is just what others want you to see and there’s usually a lot more to the story.
Like what you read and what to hear more? Check out our recent The FOMO Effect – A Panel Discussion, where we spoke with four, amazing local Saskatchewanians to hear their views on the pressures of social media and the impact it can have on our financial well-being.
We want to know – has social media had an impact on you financially? Share your experiences and your tips & advice on staying balanced in a digital world below.
Born & raised Regina city girl whose been married for 10 years and a Mom to two busy, busy girls, one of which is a teenager (yelp!). Prefer experiences over things, but realize experiences need a lot more planning. Started budgeting & tracking our family’s spending and wishing I would have done sooner; still can’t give up my daily coffee purchase though.