Lavish Spending, Water, Walking
Personal Debt and Social Media Newgate, Committed for Trial , Frank Holl (1845-1888) Photo Credit: Rochdale Arts & Heritage Service [CC BY-NC] Displays of lavish spending on social media such as Instagram are to blame for dwindling household savings and rising debt, experts say…They trace the trend to the rise of shopping channels on TV, and of mobile phones and email, which gave people new outlets to brag about their holiday, night out or new dress. It was exacerbated by the rise of social media which, they say, is wholly organised around consumption. They, the Researchers at the US National Bureau of Economic Research, explain that the most visible people in an online network are the ones who are shown consuming the most. In other words, the friends who are constantly posting about mini-breaks and meals out are the ones most likely to appear in timelines. Social media sites designed for sharing pictures and videos, such as Instagram are particularly influential...