Thanks to Social Media, We Are Spending More Money

September 7, 2018

© Aleksandra Suzi | Dreamstime.com

We already know that many people spend entirely too much time on social media. It could be posting photos, making videos, or just scrolling to see what's going on in other people's lives. All that time on social media is having effects on our mental health, happiness, and even our finances. 

According to a new study, more than half of people have bought something online they saw a celebrity or influencer promoting. I know I have done this on many occassions. Because of posts I saw on Instagram, I ended up jumping on the Fab Fit Fun Box bandwagon, tried a teeth whitening kit, and some of those meal delivery services. I have definitely spent my share of money on things that have influenced me. 

It makes sense that we are spending money on things we see online because this study also found that on average people are checking social media at least thirty times a day. Also, four in ten millennials claim they cannot live without social media! 

On average we spend $511 a year on things we see online. In the grand scheme of things that is not all that bad.