This Spending Coach Is Explaining How Social Media Platforms Can Lead To People Overspending And Buying Things They Don’t Need
As a young woman navigating her 20s, I sometimes struggle with managing my money. In an age where social media tends to make us believe we need more material things than we actually do, many people find themselves overspending.
Thankfully, Paige (@overcoming_overspending), a spending coach who helps women manage their money for a living, recently posted a video explaining how social media platforms can lead to users overspending and buying things they don’t need.
“I’m seeing these themes coming through about what your consumption habits should look like that actually aren’t very normal, and frankly, they’re not super healthy,” says Paige at the beginning of her video.
Paige lists the four primary themes she sees on social media that often encourage audiences to spend more than they should.
The first theme she’s noticed is that people who post on social media tend to make us believe that we must have the newest and best version of something. Paige points out that you’ll never get much use or value out of your products if you’re constantly buying the next big thing you see on social media.
Always wanting new material items and hopping from one thing to the next can also lead to unnecessary junk and clutter.
The second major theme Paige sees on social media is people prioritizing things that bring them instant gratification over delayed gratification. For instance, you may have noticed that people online constantly talk about getting themselves little ‘treats.’
I mean, who hasn’t seen at least one influencer’s ‘day in the life’ routine that doesn’t involve buying a nice drink from a coffee shop?
But, of course, over time, these little treats add up.
dodotone- Stock.Adobe.com illustrative purposes only
“My philosophy is that you always want to prioritize your future self and what’s best for her financially, rather than doing what’s best in the moment,” Paige explains.
“Sometimes that will mean saying ‘no’ to yourself in the present moment so that you can say ‘yes’ to yourself in the future for the thing you want most.”
Another theme Paige sees on social media apps is that things in your life must always be complete. For instance, if you move into a new house, it has to be fully furnished.
If you get a new job, you have to buy a completely new wardrobe. If you want to have better skin, you need a complete set of skincare products.
“This app definitely promotes an all-or-nothing mindset when it comes to our consumption habits,” says Paige.
Paige mentions that videos online don’t emphasize the ‘in-between’ stages we go through in life. Instead of trying to have everything all together when you enter a new chapter of life or take on a new project, let yourself gradually grow into it and slowly decide what you need.
Finally, Paige mentions a common theme on social media that revolves around having more.
“There’s just this overarching message that the more you have, the more you spend, the more you acquire, the happier you will be,” explains Paige.
“That’s just simply not the case. The truth is, is that there is a law of diminishing returns when it comes to our spending habits.”
Paige explains that, yes, money can certainly bring lots of happiness and fulfillment into our lives, but only up to a certain point.
Once we get to the point of sufficiency, any spending that we do past that point on excess clutter and things we don’t need will bring down our happiness levels.
This would explain that moment many of us have had where we’ve purchased something we thought would bring us joy during a rough time but didn’t.
Has social media ever made you feel pressured to spend more money?
@overcoming_overspending The 4 primary themes I see on TikTok about our spending and consumption habits that seem normal, but aren’t. ???? #creditcarddebt #shoppingaddict #overconsumption #overspending #impulsebuys #overspender #implusebuyer #spendingproblem #moneymindsetshift #moneycoachforwomen #overcomingoverspending #deinfluencing #deinfluencer #debtfreecommunity #debtfreegirly
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