A new disease that attacks the youth..!? What is that?
In this modern world, there is no one without a smartphone. social media is connected to our lives 24 hours a day through smartphones. We watch videos on instagram, Facebook, and YouTube. We follow those we like. Although we have learned many good things through this, we are suffering from a modern mental illness without knowing it, according to a recent study.
Mental illness caused by social media?:
People are increasingly filming and posting their lavish lifestyles and travel on social media. Do you know the impact of such information on our minds, especially in the minds of young people? If we spend all this, it means that we have achieved development. As a result, they suffer from financial mental illness and make wrong decisions in financial management. This is called MONEY DYSMORPHIA in English. A recent study conducted by Qualtrics for Intuitive Credit Karma found that 59% of Millennials and 48% of Gen Z say social media pressure is preventing them from making sound financial decisions.
We all have unique needs when it comes to making money, our family expenses, financial stability, investing, and saving. For example, a 25-year-old woman buys a Louis Vuitton branded bag and posts it on social media. Thinking that buying this branded bag will give us status or show our growth to the world, others spend thousands and buy the same branded bag without realizing their status. But the life of that young woman and the life of those who grasp that information are not the same. Without this understanding, many young people end up spending money in the wrong way without establishing financial stability and regret later.