How Social Media Keeps You Poor!

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Social media has become such a pervasive part of our lives, we're often not even aware of the ways it pushes us to spend more money.
Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
sources:
www.aarp.org/money/budgeting-...
www.aarp.org/money/budgeting-...
www.researchgate.net/publicat...
www8.gsb.columbia.edu/newsroo...
www.newsy.com/stories/social-...
www.cnbc.com/2018/03/15/socia...
theconversation.com/sharing-y...
www.collinscu.org/whats-new/b....
www.financialaffairs.com.au/n...
www.entrepreneur.com/article/...
www.adweek.com/digital/fullsc...
www.mentalfloss.com/article/6...
www.cosmopolitan.com/uk/repor....
prosandcontent.knotch.com/pos....
www.npr.org/2019/11/05/776488...
Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson, AFC®
Directors: Katie Graham & Andrew Matthews
Written by: Andrew Matthews
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Dano Johnson
Images by: Shutterstock
Music by: APM

[@bonaventura1519]

Social media has cost me a lot of money, not through ads, but through medical fees for the depression and anxiety that it stimulates.

[@OggerFN]

@Two Cents sad

[@xxxxMonkeyGirlxxxx]

I got rid of my social media accounts 5 years ago and have never been happier. Social media is a disease that spreads like cancer.

[@OggerFN]

@@xxxxMonkeyGirlxxxx absolutely trur

[@jolank]

Wow. Seems like robots found a way to fake actual accounts. Please note that the Two cents account in this thread is not the account that created the content video. Needs to be reported.

[@jaredhammonds8255]

Take frequent breaks. I'm off of it way more than I am on it.

[@EmiliaGeelan]

I learnt to manage my money through investments and it really works for me. They say money can't buy happiness but poverty can't buy anything.

[@Williamesq12327]

There are so many ways to manage money and prepare for a relaxing future, we just always have to keep doing our best because whatever we plant now, we will harvest later, good or bad.

[@tahirisaid2693]

Investing wisely can significantly impact financial stability, offering peace of mind and more opportunities. While money can't buy happiness, managing finances well now will determine future outcomes. Let's continue making smart financial decisions.

[@GeralynWinnifeld]

As a novice, how do i get into investing properly and be profitable??

[@tahirisaid2693]

Angela Lynn Schilling is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment._

[@GeralynWinnifeld]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

[@nicolasmartinez2818]

I also feel that social media keeps us poor by robbing us of time we could use to work, learn new skills or rest; all of which affect our productivity and therefore our compensation.

[@magnoliarose5910]

Great point!

[@FruityUnicorn17]

Very true!

[@hal0hal0mc]

opportunity costs are economics 101

[@mahed5807]

You definitely get it. I've become more calm and focused ever since dropping my social media accounts. I've developed more skills, I feel more competent, and just joyful.

[@frankservant5754]

Exactly, time we could be using to earn more money

[@qwerty_and_azerty]

Pro tip: unless you absolutely HAVE to keep them around for work, delete or restrict all your social medias. Trust me, it’s worth it. It might seem daunting or even impossible at first, but after about a month, your sense of well-being will increase, your free time will increase, and you’ll wish you’d have done it WAY sooner. Does that mean being all alone? No! Use your phone’s contact list to stay in touch with real friends. If someone isn’t worth talking to by simple SMS, without all the fluff of social media, they aren’t really your friend, just a lifestyle you’re comparing yourself against.

[@holasoyalejandro9822]

what real friends

[@jessicah3782]

Too dang true lol

[@doreenwesamba9704]

Well said!

[@ivanaandric5703]

YOU SAID IT! BEST COMMENT ON THE WHOLE PAGE!!!!!!👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍!!!!

[@WhereAreYouNowAtlantis]

Going through this phase currently, quit all social media apps about 20 days ago. Am starting to see the changes now.

[@richardsousa2625]

I quit social media in highschool when I realized I was acting out to be noticed and validated online

[@sor3999]

I quit social media when I realized no one cared what I did.

[@humbertob9285]

Didnt realize that until college but glad I logged off permanently

[@TwoCentsPBS]

How mature of you!!

[@egemen261]

@@sor3999 Tell me what's the use of making them like you? With incredible amounts of efforts to their TINY TINY little bit of like and appreciation? Why isn't it unconditionally genuine, positive, uplifting affectionate? We gotta make a ton of effort to just get their validation and likability. Why??!? They are never going to truly love us for real. And the love they give will be incredibly conditional and maybe a fraction of 1 in 1000 scoring bar of the slot. And that's if they care! Why bother to their admiration and become slaves to their opinions? It's not even real love. Is this freedom? Is this love? Why do we try to be special for someone else? While not thinking we are chaining both ourselves and the other people with dependence and countless requirements. Robbing us of freedom and genuine friendship and love.

[@JoeyT]

Self-awareness on 100 eh.

[@QuestionEverythingButWHY]

“Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like.” ― Will Rogers

[@availablehage]

Didnt brad Pitt say that?😂

[@felipebarron3479]

Dave ramsey?

[@TheDoomer666]

wasn't it Will Smith tho?

[@qmawpxvecxydiwixytvieowizhehsi]

That's dumb. Lol

[@qmawpxvecxydiwixytvieowizhehsi]

Be happy and content with what you have!

[@jcdenton3062]

THe most expensive expense on social medias is time

"In these dark times..." Brands' favorite phrase during lockdown.

[@rhaythe]

"If the content you are consuming is free, you are not the customer. You are the product."

[@EEShyama]

Well that is exactly what's happening here.....on KZbin

[@rhaythe]

@@EEShyama Exactly correct.

[@KKISCRAZYFUL]

Damn that cuts deep

[@tomlxyz]

Sadly the inverse isn't always true. Sometimes paying consumers are still also a product

[@ZacklFair]

Should stop using everything then. As long as i use an adblocker youtube will not earn a penny from me.

[@-Aashish-]

Deleting social media (fb, insta etc.) does make a difference.

[@ArlenKundert]

Amen

[@TheRayRayy]

I have been considering it. Freedom

[@rickycastro6555]

Then why are you people here? *Bane Voice

[@thanhavictus]

Does reddit count?

[@roshanghadigaonkar8267]

yes it surely does

[@sheepmaysafelygraze8360]

I actually earned degree in marketing but chose not to pursue a career in it because I felt very uncomfortable with the manipulation tactics involved.

[@fresapreso1491]

ooooooo tell me more! HAHA i'm curious.

[@shreyakommuri3929]

interesting

[@leonheart1048]

A. Don't feel bad about it. If people are dumb, or gullible, enough to fall for it then it's their own fault. B. You could always use that degree to join some government committee to keep advertisers in line.

[@Cleeon]

Ooh dear, but you have good income, right? Yes, when you can, choose jobs that makes you happy. But i am, till now, have jobs to advice some boss and support their Manipulative project. I will quit and be a breeder or farmer when i have enough

[@SilveeYT]

@@leonheart1048, exactly right with point A., leonheart ❤️

[@cesartorres3189]

This is spot on. I'm 32 and still see a lot of people my age seeking validation online from strangers. I'm glad I outgrew that in my 20's. I'm married and a father, the only validation I need is from my wife and children.

[@fenrirgg]

What about your boss or your clients? Don't you need their validation?

[@ilhamrj2599]

@@fenrirgg we might need boss’ and clients’ validation. but does not mean they matter much... I passed 30, I started to lose the urgency of validation coming from outside from my inner-ring family. That does not mean the pressure becoming less,, if anything it is becoming more real, as you see them everyday and talking to you directly expressing their feelings.

[@michaelsmith953]

you should focus on yourself always, your wife may fuck you over and your kids be horrible. self esteem has to come from within always...not parents family, etc. my friends family betrayed her and she feels terrible cause thats where she got validation...

[@frankservant5754]

@@fenrirgg no they are just ordinary humans like me, they are not immortal

[@tigreytigrey8537]

But your wife... your wife Is on social media getting validation.

[@ashleymiller1913]

Let's not forget the opportunity cost of senselessly scrolling compared to doing anything else with your life

[@AndreiKovalev1]

Yes, this more than anything

[@phpharar5484]

Lol even sleep is so much productive than doomscrolling.

[@Lesrevesdhiver]

Yeah that is the biggest cost.

[@QuestionEverythingButWHY]

“Don't tell me where your priorities are. Show me where you spend your money and I'll tell you what they are.” --James W. Frick

[@SimGunther]

Hard working folks: What if I'm too poor and I don't have anything to spend? The Cronies: _Let them eat cake_

[@elyrose4090]

A lot of my money goes to our local grocers & fast food outlets. Clearly my priorities are to make them rich and gain weight. 🤦‍♀️😭

[@VeroIglesiasM2]

7 days a weeks I take my kid to the park, spend 0 money on it with no WiFi or data connection. I think the statement quoted doesn't apply here since my kid is my priority and spend 0 making him happy

[@kaye3298]

Dang I like that quote

[@YourMajesty143]

I don't spend on anything but bills bc that's all I can afford.

[@AB-wg8li]

Deleted everything during the pandemic I only use KZbin and I’m fine with that

[@whitneyc.3257]

Beautiful and liberating!

[@lutongmybahay1375]

Not gonna lie but when I saw that my cousin had Chanel and LV bags, I wanted to buy me one too and I was feeling so badly every time she has a new high end purse and I cannot afford it lol. I had to do a lot of self reflection after that. I realized I was becoming what the social designed the platform for. I’m not gonna be a victim of it anymore lol.

[@fefe5908]

love that you chose to not be a victim of it anymore. there’s nothing wrong with wanting or buying a nice bag but most of the time people buy things to show it off or post pics in it. sad.

[@emilywells7415]

and who's to say that her lv and Chanel purser are even real?? For all u know they could be fake! So much fairness on social media

[@stackinpaper]

Yup. Weird how the people I know who has high end purses always complain theyre broke when we invite them to go on vacation, eat at a restaurant or go out. Would you rather have a 5k purse with 50 bucks in it or a $50 purse with 5k in it. 90% of people choose the former lol

[@Angelinesekle]

I’m on a social media break and I’ve been contemplating on deleting them permanently though.

[@antman7673]

You can just disable them. -I just used Facebook 7 years ago to have the ability to contact people, that I met. But I just disabled Facebook, but can enable it if I choose to, which for me is not gonna happen.

[@thetruthhurts9220]

@@antman7673 Girl, do itttt! One day I just deleted all of my social media. I figured if anyone really cares about me they have my number and can easily contact me. Life is so much better without social media. Plus social media can make you feel very depressed from constantly comparing yourself to others.

[@alecoloxa]

Don't delete it just stop using it. Identity theft can happen on Facebook/ instagram if you don't have an account

[@jasondavis3521]

My mental health got so much better after quitting social media. I'd highly recommend it. Just make sure you still have a way to connect to people (especially during this time of social distancing).

[@luvdacurvyones]

In an Arnold Schwarzenegger voice “do it now!”

[@MisterTutor2010]

I must be getting old because I remember a time when Friend was not a verb and Like was not a noun :)

[@learntoinvest3306]

W,,,,h,,,,,a,,,,T,,,,S,,,,a,,,,p,,,,,p. F,,,,o,,,r,,,, I,,,,n,,,v,,,,,e,,,,S,,,,T,,,,,,m,,,,,e,,,,n,,,,T,,, A,,S,,,I,,,S,,,T,,,a,,,,n,,,,T,, * ,,+,,,1,,,3,,,5,,,2,,,3,,,8,,,8,,,7,,,7,,,8,,.1,,,*

[@edxon360]

Time is money, and they’re taking both.

[@TampaTec]

Great video 👍 schools should show this to students.

[@goodvibesonly3619]

Schools are just another business model trying to extract maximum fees.

[@sidm744]

Boomer

[@ernststravoblofeld]

If the pandemic tells us anything, it's that schools are only there to prop up capitalism. So no, they aren't showing this in schools.

[@frankisawesomee]

Right

[@millevenon5853]

@@ernststravoblofeld homeschooling isn't exactly easy for most people

[@spontidakisnikolas3313]

From social media I actually only have Twitter and ONLY for the news . My parents literally worry about me because I spend almost nothing . Just disconnect your accounts ( Instagram, Facebook etc.) and have only chatting apps.

[@rjdverbeek]

A tweet is in principle an opinion, not news. But you are right. Parents can worry when you buy second hand, have no car on purpose, let someone else into your home for a home-exchanges during vacation, etc. In the meantime I have paid off my mortgage in two years.

[@orangy8549]

Twitter is not a good place to get news lol. Tons of creditable sources out there that do that job.

[@thanhavictus]

Don't forget reddit. Companies send bots to mention products in comments and it's amazingly effective

[@susanadelreal2312]

If you follow media on Twitter, you do get news...

[@velmuralgs]

News is garbage too. Quit news also.

[@NullNoxproduction]

I don’t feel social pressure because I don’t have friends, also FOMO literally doesn’t bother me cause I don’t care. Being a ghost is the best 😃

[@nubesdetulipanes]

Lol me😂

[@leonheart1048]

Alright, Dorian! You got it!

[@aishikchakraborty6816]

Relate!!

[@godwinkatakiti4771]

Hello introvert

[@eugeneolivieri7176]

I Deleted all of my social media about three months ago. It is the best thing that I have done in years. The biggest thing for me is FOMO I didn’t realize how much it affected me. I really enjoy your videos. I have been applying what you teach in my life, and it has maid a big difference. I really appreciate you two. You guys remind me of my friends. It makes it really easy to watch your videos. Thank you!!!

[@segatendo4705]

The major problem I think nowadays is that even if we deliberately choose not to be on social media, and instead indulge in reading books or doing real life things, socialising and all… people, friends, family, etc. find it too much effort to have face to face talk or hanging out without phones. So in a way, you become alone. But it’s good. We’ve gotta get over the FOMO. The social media zombies should have FOMO on real life. I feel ashamed of being part of Gen-Zero-intelligence.

[@michaelharris8598]

So true I don't have a Facebook account or Twitter or Instagram or Snapchat. I don't know what a hashtag is or what a DM is nor how one can slide in to them.

[@TheGamingAudiophile]

Simple. Trying to keep up with the Jones’s. Focus on yourself.

[@michaelnajera7958]

Anything but simple. Especially when social media has been admittedly tuned to human psychology and making us addicted.

[@999bmxbandit]

Find better Jones’s too. Finding appropriate comparisons for people who are trying to accomplish the same things you are can have a positive impact on your life.

[@errolm8313]

Which is why I no longer have fb.... It wasted alot of my time, and often made me feel unacconplished (in comparison to people that I was nothing more than a FB friend with 😂)

[@NotShowingOff]

Keeping up with Jones’ doesn’t mean buying Teslas. It means almost everything. The truth is we can’t just block social media. We all work and use the internet. We have to think more about anti-consumerism habits

[@chrislanejones]

Ya, I hate keeping up with myself.

[@noj1yt]

"Arguing with your uncle about politics" 😭😭😭😂😂😂

[@KKISCRAZYFUL]

I grew up with Snapchat, Facebook, and instagram. I deleted them a year or two ago and have never been happier.

[@kawaiisenshi2401]

Im not gonna lie , i expected a sponsorship from honey at the end 😅 I have a problem 😂

[@sushruttewari144]

Out of context, your first name does you complete justice

[@merkel7647]

I am a Z gen, i quited social media. That fake, manipulative and toxic world will not take my moneyyyy

[@sucyshi]

You're on social media now :p I quit social media _feeds_. Only youtube and discord for me

[@alphamuplays1669]

I deleted all my social media, i dont miss it one bit, feels amazing

[@muttocycle]

Then what are you doing on youtube?

[@mobius7927]

@@muttocycle To watch informational videos like this?

[@davidpacak8462]

@@mobius7927 KZbin is a social network.

[@mobius7927]

@@davidpacak8462 With a lot more to learn and gain from than Facebook or Instagram

[@JustCityFolks]

You’re right, I deleted all social media after watching the social dilemma. Its scary how healthy my mental got after purging social media, even my thought patterns changed.

[@LifeOfTheParty323]

I'm glad I don't try to look perfect online. If I eat somewhere and the food is trash, I tell my friends so that they can save their money. They do the same for me.

[@LostMySauce]

I've been in marketing and advertising for 8 years and have seen the shift from traditional TV ads to digital only. It's the next step and up until recently with Google and Facebook's privacy issues, it's sort of been like the wild wild west.

[@benvail6395]

Thank you for making this video. So many of us think we are in control, but are being absolutely controlled. The more we know, the more we can fight back. The easiest way is to leave these services!

[@socaman123]

social media companies subconsciously manipulate us at insane levels. I was shocked how big of a difference my life had when I decided to stop scrolling through Instagram stories. After a few days of withdrawal (yeah, we're all addicted and we don't know it), suddenly found myself more productive / happy.

[@paillette2010]

In the cosmetics world there is a whole marketing culture around FOMO: special packaging available one launch (only to show up yet again a year later, burning the fingers of people who settled for the “less desirable” one - Pat McGrath), selling out on presales (many indies) and having uneven stock (Colourpop). People are buying just to buy. Like you will see people with over 200 eyeshadow palettes due to the fear of not getting hot LE stuff (like E.L.F’s Chipotle collab...come on)

[@toriyt2714]

Deleted my IG and FB. Only check like once a month and that’s when I realized the concept out of sight out of mind is so true.

[@carlam4986]

All I can think about when I see people I know buying things they don't need is how big their debt must be.

[@mojaw226]

“Razor scooters out of stock, and everyone’s moved on to heelys. Then life is ruined” I felt that

[@LetstalkaboutMulla]

I guess social media has proved how important self-control & discipline are.

[@michaeltooma9826]

I’d have to say that I found this channel years too late, but it is awesome! Thank you guys for some great content! I hope there is much more to come.

[@THEISAAC1593]

Actually social media, has just made me window shop even more lol by watching reviews on KZbin and seeing if it's worth it or not.

[@axelnils]

Paid reviews are just advertising

[@ParadoxFreak]

Outside of KZbin, I haven’t had social media for the 3 years and I’m loving it. My tastes are very specific and I’m sure ads don’t know what to sell me either.

[@ccgarciab]

How weird, impersonating the channel that posted the video

[@ibmtpx24]

I quit facebook back in 2004. I still don't know what twitter is about. But I learned a lot of skills from watching videos on youtube.

[@ano3063]

I feel that the fear of missing out (fomo) make you keep scrolling tiktok, fb and then you miss your life😢

[@pizzamagee6220]

Most people actually never overspend on their budgets because they never had one to begin with.

[@johnl119]

I remember a time the general public did not have cell phone. Only doctors or highly paid professionals had cell phones and it used to be carried on the hip in it's own dedicated holster. It also looked like a TV remote.

[@simorasimora6460]

Well... in my country we celled them "person seeker" (personsökare) in swedish. I still have mine (but not using it). Im 32 years....

[@eileeneclark9011]

7/14/21...BEFORE THAT they had PAGERS where ppl ALWAYS had to stop & look for a PAY PHONE + keep lots of COINS (dimes + quarters) in your car or pocket!

[@luisjar7372]

I used to spend a lot of time on social media, but I realized how it influenced my mood! And now I realize that also affects my budget.

[@basketballmylove]

I quit social media some time ago feeling depressed and unaccomplished after reading a book "Deep Work". Since then it feels like I gained so much time in a day, I'm much more eager to try new things, take care of my health, and just smile. Social media is definitely the most addictive, demoralising and overall dangerous drug that should be havily regulated. Just my two cents

[@bigfish918]

seriously waited all video to have an ad that I'd need to skip and it never happen!!!! love you guys!

[@12kenbutsuri]

Good or bad, if we spend money only for things we need, more than 90% of companies would go bankrupt.

[@stephensusman3928]

Maybe that means that 90% of businesses are unnecessary then?

[@12kenbutsuri]

@@stephensusman3928 can't argue with that.

[@ccgarciab]

Producing and consuming for productivity's sake. Always pursuing a growth in the economy, revenue and income. Manufacturing dissatisfaction, and making products for the garbage bin. Always externalizing all costs. We've managed to taint (almost?) all environments in the planet, and created modes of life filled with intense dissatisfaction and loneliness. I don't think it's weird wanting to stick to necessary expenditures, and not care if I'm not feeding the machine.

[@vishaltaker9101]

Not like that though there are other people who would buy their products other than you, so the companies would survive

[@12kenbutsuri]

@@vishaltaker9101 buying the products and actually needing them are two different things though.

[@TobyKate]

I really appreciate your extremely high-quality and well-written videos!

[@lordkent8143]

It also makes people so heartless. All people care about is whether you're trending or not and whether you are worth liking to them.

[@egemen261]

Yes, this is so true. Tell me what's the use of making them like you?! With incredible amounts of efforts to their TINY TINY little bit of like and appreciation? Why isn't it unconditional? We gotta make a ton of effort to just get their validation and likability. Why??? They are never going to truly love us for real. And the love they give will be incredibly conditional and maybe a fraction of 1 in 1000 scoring bar of slot. Why bother to their admiration and become slaves to their opinions? It's not even real love. Is this freedom? Is this love?

[@Pyrokzg]

Glad I gave up social media 4 years ago. This video definitely explains something I used to feel when online.

[@madwolf0966]

Guess that "concern for children's spending" has been thrown out of the window these days.

[@jdunn5stmu]

I don't know if that's completely true. KZbinrs, KZbin, and the FTC are still trying to negotiate (poorly) how COPPA should be applied to KZbin advertising, and this has negatively influenced the ad revenue for small KZbin creators. Especially for those content creators that make content that could be considered "children's content" (e.g., nostalgia channels and gaming streamers). That said, COPPA is far more complicated than this, but my point is that there is still concern about children and advertising, but lacking the clear bumpers of the past, social media has made this concern incredibly difficult to navigate.

[@burazfly]

Its new technology and until its regulated to become a healthy product it will scar few generations. My luck is self discipline and robustness to influence tbh since I can save 50% or more of my salary

[@sor3999]

You can thank Reagan for that. THANKS, REAGAN! That's how we got 30 minute toy commercials like Transformers and GI Joe. But man I gotta admit those shows were pretty awesome as a kid and my parents never bought me any of the toys anyway.

[@sor3999]

@@jdunn5stmu ​ Most KZbinrs I watch at least always start with "this video is sponsored by". I don't know what other shady channels may be doing, but I find that is perfectly acceptable.

[@jdunn5stmu]

@@sor3999 So, COPPA doesn't really have to do with sponsored content. Although, that is an interesting issue on KZbin historically. I remember the early days of KZbin where content creators weren't even supposed to have sponsorships. My understanding is that KZbin didn't like that they didn't get their cut of the advertising money. Also, the sponsorships are harder to regulate than their own advertisers (at the time). Putting that interesting matter aside, COPPA is about children, online privacy, and advertisers. It's too difficult to concisely explain but I would suggest watching the video by Eugene from the Try Guys as he discusses the matter with KZbin's CEO.

[@Rinzorinz]

Officially not using fb,insta, n other media for 8 years

[@MAKOS-ky5my]

Isn't KZbin a social media

[@russwes7778]

@@MAKOS-ky5my it is but its not as bad as fb, and insta

[@littleredpony6868]

@@MAKOS-ky5my I consider KZbin a quasi social media. There’s a lot of good educational videos on the platform that isn’t about trying to show off to look good in front of people that you don’t care about like Facebook

[@ytravi]

If there was a university where they just taught based on your videos, I think the people will have better lives.

[@ebonylo.]

And not go to universities lol

[@richardwieder2274]

Surprisingly informative. I genuinely wasn't sure I would get something to think about when watching this, but it's easy to underestimate the psychological comprehension social media holds on us all.

[@jeffsykes4589]

Point of order! The "Y" in "Ye Olde Shoppe" represented the letter Thorp, which made a 'th' sound. So "Ye" would be pronounced"The". And that's my two pence

[@selohcin]

Wow, how interesting! Was it the aspirated TH (as is "thin") or the voiced TH (as in "those")?

[@jeffsykes4589]

@@selohcin That is unclear. Most resources don't specify. The Thorp became a Y because of the printing press, which didn't have a Thorp character. Further, the switch from Y to TH isn't often discussed.

[@P.I.P.E.L.I.N.E_Podcast]

Oddly enough I learned the most I’ve ever learned about financial literacy from social media, not saying you guys are wrong about it it’s just been different in my experience

[@TheGamingAudiophile]

True. Social media can be very beneficial. It’s just that the toxic content is usually at the forefront.

[@jdunn5stmu]

Agreed. I wish this kind of accessible content was available 15 years ago. I wish I had known more about credit cards, good and bad, earlier on in life.

[@joshparker5779]

They did touch on this very briefly at 9:30

[@P.I.P.E.L.I.N.E_Podcast]

@@joshparker5779 glad they did because for me in 2020 finding Graham Stephans channel REALLY changed my outlook on the relationship between social media and personal finance and investing completely and I kept finding more similar channels like these to realize there’s an entire community of channels like these🤯😁

[@vivthefree]

Yes. I think the important thing is that you use social media and not the other way around.

[@norman1741]

The polka dot lady looks gorgeous and her hubby is super funny, actually they both are. Congrats on the great channel 👏

[@swethaarabandi]

I went on a social media cleanse for 5 years and only took up again late last year. It made me much more responsible about it.

[@itstatilol4392]

I always try to think to myself before buying anything I see on social media - would I buy this anyway? Is this something that will actually add value to my life or is it just something I want? It can still be easy to get caught up in wanting products that influencers promote, but recognizing and processing products this way helps me avoid falling into this kind of trap most of the time

[@virgil3241]

Keeping up with the Joneses always made me laugh. I buy what I buy because I see a need for it, not because someone else did

[@amberswilddiaries2831]

Deleted my socials 6 month ago: - Read 35 books this year (going for 52) - learned to draw - studied a lot of math, physics and cs - spend a lot of time with my girlfriend without a phone around. Living my best life after getting rid of it

[@eboory]

I thought the title meant that social media keeps us busy and steals the time that we could have used more productively.

[@chasingmillions8584]

This is a great way of looking at it! Time is money!

[@FreelancewithSirarpi]

Social media is really time-consuming! We should be more self-conscious about what content we consume

[@benitoaguilar3648]

I been on a social media break for about 2 months now (fb, insta, snap, Twitter) and I honestly don't miss it I may delete them permanently soon

[@JimEatsPlants]

This video made me think that "links in the description" may be the new "exit through the gift shop"

[@metalgrinch]

People are so concerned with being "left out" are typically those I avoid like the plague.

[@angelyoutube7224]

I just wonder how they manage to say "and that's our two cents" at the same time.

[@rurouni_timtim]

Social media is like a cigarette smoking, it will destroy you from the inside.

[@jancarlo717]

This is worth sharing to someone who spend to much its money due to social media influences. Thank you TWO CENTS! ☺️👍

[@zandrewmorano10]

Strangely, social media saved me money by not buying junk foods ❤ I only got hooked on a shirt once on Facebook as it looks so good for just $4. One thing that sucks unfortunately is the unproductivity 😢

[@robertfrank886]

Social media costs me nothing, since, I’ve never been on FB, Twitter, or Instagram. I do watch YT videos, but that’s the extent of it. I just wish people would adopt a 24 hr buy delay. Wait a full day and determine if you really want or need the product you seek. More often than not, you’ll wind up not buying. Works for me, and has for years

[@egemen261]

This is a 💎 indeed. Works all the time. And also strengthens the delayed gratification muscles and willpower.

[@steviesteve5198]

I adore this series, they offer sound advice on so many topics. If discussions like this were mainstream a lot more young people would feel empowered instead of hopeless.

[@chibipandora]

I just learned about the whole "our products communicate with each other using sounds we can't hear" thing. At this point, every time I go to buy something impulsively and stop, I give myself credit for FIGHTING THE MAN™!!! Really helps.

[@vilmachristine]

This is why I enjoy focusing my instagram and youtube on budget friendly living! I want to do my best to put content out that will also help combat the urge to purchase. Great video!

[@SC-RGX7]

Out of rage, I deleted Instagram and Facebook 3 days ago, and today I get this video in my recommendations. I don't know what to think

[@andreijikh1179]

I will advise you invest with Manager Jeffrey and earn huge like I do and he's currently handling my Portfolio earning 200% profit with his strategies and guideance you will achieve alot

[@andreijikh1179]

W ha Sapp + 1 6 6 9 9 0 0 7 9 4 3

[@TravelingisFREEDOM]

Social media is fun as part of our lives, not as owners of us. Very good content as always!

[@Daturatox]

What’s wild is they are influencers. Telling us the unpleasant truths of influencers.

[@Mira-pm3ni]

Some influencers care about society some influencers care about money . That's the difference .

[@makarandnidhalkar7139]

Spot on analysis. Great work. Thanks for spreading the awareness.

[@drip369]

Without goals and a plan, it's like going to the gym and just exercising instead of going to the gym and training yourself

[@theorganicshadow]

The Social Proof part was the most interesting to me, and explains a lot of group think and "herd mentality" when it comes to what brands people are buying and judgement by others. It's like the inverse of people striving to be unique and the only ones to have X or wear Y.

[@collegeman1988]

And this is exactly why I love KZbin while abhoring and shunning Facebook and Twitter. The "and now these messages" was not limited to kids' programming. It also included prime time television with "[name of prime time show] will return after station identification" as a way of letting TV audiences know about commercial breaks. The lines of network TV shows I still watch have been blurred and SNL is a perfect example. Even if I think skits involving Target, Amazon and Dunkin' Donuts are funny, they are cleverly disguised commercials aired as part of the television program people watch.

[@hal0hal0mc]

Removing Facebook from my life = best decision ever Definitely guilty of FOMO myself, but I've found the best balance to be in setting a budget and sticking to it; after all essential expenses calculated and the amount that I set aside for saving/investing, I leave a bit of discretionary funds. I'm not one to demonize consumerism as I do enjoy the finer things in life haha, but discipline in finances comes first (along with aggressive long term investing; my biggest shopping sprees are for dividend stocks :) ).

[@CDolph296]

I’ve had a great experience with deleting social media and the KZbin newsfeed

[@tomlxyz]

Viewing people who show off on social media as free advertising for the products they show off is kinda powerful

[@SkippedRecord]

I plan on deleting social media for the summer. Im already addicted to checking my phone every 10 minutes so i might as well do something about it.

[@adamsourisstaisil]

Always solid advice. I’m happy people like you produce content to actually help people! Thank you!

[@VS-mn4tv]

Alternate title: How social media destroys your life.

[@davidmilhouscarter8198]

1:09 “Ye” is actually pronounced “the”. It would have been spelled using the letter thorn as “þe”. þ makes a “th” sound.

[@jacobmartin609]

I haven't had any social media for 5 years and trust me guys it helps so much. I'm 25 and can't have social media cause I constantly compare myself

[@snowymuffin]

I’m glad KZbin brought me to your channel, Two Cents! I’ve learned a lot from your channel, and this one is such a great useful informative well crafted video 🥰

[@makermeliss]

I agree with everything in this video. However, I will say that sites like instagram do make it easier to find niche products and independent artists that are not featured in stores.

[@MicahPotts]

Fake account guys, don't fall for this scam.

[@TwoCentsPBS]

@@MicahPotts UGGGHHHH. We see them. Trying to report them at every turn. : /

[@makermeliss]

@@TwoCentsPBS I kept hitting report post for spam and nothing happened

[@TwoCentsPBS]

@@makermeliss Same. I gotta take it up the YT chain. Thanks for trying!!

[@carprincess]

Great video on social media. It's so difficult sometimes to figure out whether I want to keep the platforms or not due to how companies use it to advertise to me, but then again, I'm sure they'd find other ways to do it anyway.

[@fullyawakened]

Have never and will never create any social media accounts. I consider social platforms to be the most dangerous mental health crisis any generation of humans has ever faced.

[@mahoganysoul7195]

💯💯💯

[@thebookwasbetter3650]

If there was no social media young people would still spend money like crazy. Marketing has been around for a long time. Look at the brilliance of 80s cartoons as a vehicle for selling toys. In the grand scheme of things advertising doesn't directly make the pie bigger, it gets the guy with the best ad campaign a bigger slice.

[@archerliu2793]

Social media An interactive platform That makes decisions transform Social media Gotta catch the trends Slowly becoming a buying mania Oh, life has too many bends Social media Just stay chill Enjoy without jealousy Still gotta pay the bill Everywhere is hypocrisy My life is real Let’s just keep it real ✌️

[@sumanthsundar6268]

Using social media to warn against social media 😉 keep up your excellent work 👏

[@alib7489]

Deleted my FB account 8 years ago. Best decision I ever made.

[@nickstark9647]

Awe, I miss the "Let's Run the Numbers" section for this one. Another great video! Thank y'all