Whereas social media today helps people communicate with family, and friends and carry out business, it is increasingly prompting many to live beyond their financial means.
According to Schwab's 2019 Modern Wealth Survey, social media lures people, especially millennials aged 23- 38 into overspending on experiences, fine dining, and vacations as a result of pressure from their peers.
Commenting on the topic, Olive Najjuma, the Fatboy Show host affirmed that social media influences people to live beyond their financial means.
"We are living beyond our means because of what we see on social media. It is like the pressure to post the same things to show the world that you are living a good life especially when you see your peers do certain things," she said.
Meanwhile, James Onen the show co-host, noticed that people no longer post their lovers on social media because other users snatch them.
However, Peace, a contributor to the show believed that people who seek validation on social media throw showbiz have an underlying urge to prove themselves to their friends or family.
Moreso, she said some people like to compete with their peers after seeing their social media feeds without considering the financial disparities between them.
"Sometimes we want to match up with our friends, not knowing they have a different social class or sponsors. We end up pulling our strings yet in the end we are not paid for getting many likes.”
The Fatboy show is hosted by James Onen aka Fatboy, Olive, and Sarah every weekday from 6 am to 10 am on RX Radio.
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