How Social Media Can Affect Your Money

Our world seems to revolve around the internet and social media these days. We all know social media is a great tool to use to keep in touch with friends and family, but not many people think of the negative implications of social media until after it’s too late. There’s something else you probably didn’t think about — social media can affect your money. Here’s how:

Seeing ads can make you spend more money.

You can’t scroll through a single webpage or social media app without being presented with an ad that encourages you to buy a product of service. If the ad itself doesn’t get you, a friend or celebrity’s post featuring the product may. Think about it: how many things have you (unnecessarily) purchased because you saw it while scrolling through Facebook or Instagram?

Vacation photos can get you robbed.

It’s never a good idea to post vacation photos online before you’re home. While a friend may see you sipping a Mai Tai on a pretty beach, a potential burglar sees you as an easy target, hundreds of miles away and unable to protect your home and valuables. No one wants to come home from vacation to find out they’re stuck replacing thousands of dollars worth of stolen items.

Inappropriate posts can lose you a job.

Adults always warn kids to be careful what they post online, and that’s advice everyone should heed. Employers are getting better and better at checking social media pages to determine if they want to hire a candidate or not. Do you think a prestigious law firm is going to want to hire someone who posts a new photo of themselves acting drunk and sloppy every weekend? Spoiler: they won’t, so you’ll be out of an income.

At American Investment Planners LLC, we want to help you and your money stay safe, which is why we make it a priority to help you prepare for the best financial future possible. From managing your cash to 529 savings plans, we’re here to help with anything you may need. To schedule an appointment with one of our advisors, please call (516) 932-5130 or email info@americaninvestmentplanners.com.