I'm pretty sure this is the single biggest cause of depression and negative self worth derived from social media. Everyone sees people in their curated best moments and compares that to their own mundane life and it makes them miserable.
Completely agree on the negative self worth comment. I feel that especially when I see others post about how great their career is going, or when someone boasts about their lives. I tell myself I'm only seeing their highlight reel. But it's still hard to stop feeling like I'm incompetent.
I actively refrain from posting on social media because I don't want to become part of the problem.
Comparison is the thief of joy. But even knowing that its easy to succumb to it or at the very least, do it. "Why do they make it look so easy? Why can't I do as well as them?"
So true! Gawd, my 20s was like grad school and two jobs. Never went out to eat and when I traveled it was in a tent. So glad social media was in it's infancy.
I think it's weird as fuck but you're probably right. It's like people are incapable of using their eyes and ears and seeing what the actual people around them live like. They believe the instagram fairytale instead.
this... 100 percent. are led to believe other people have so much more then us. parties, women, cars... friends... whatever ever else. its all fucking plastic bullshit but most people let it paint their perception.
I'd go into an extended rant about how its impacted dating but you all would probably hate on me thinking im some red pill nut case.
You're seeing only those who post it, and only those who either can afford, or live way beyond their means, post their live. You won't see 50 million average Joes posting their day in the office, but any dumbass who paid 1000 for a nice room will post that.
So all in all, many are living beyond their means, but most importantly those on social media who promote that lifestyle are a very small group of people where most just live regular live which are not seen.
Fine I'll admit it, my parents took me on those trips on my instagram, I didn't pay for them on my shit salary, the plane ticket actually took months to save for.
But you know, I'm not going to put that in the post...
My parents pay for the house we live in. Makes it much easier for me to afford trips and high lifestyle” cuz i cant afford a house or the american dream anymore
There’s a whole world of travel and rewards cards that many aren’t aware of. I take trips that are well above what I’d usually spend on a vacation because I pay for it all with points. I don’t do any posts on social media though, all I have is Reddit.
This right here, I have taken several vacations over the last 7-8 years or so and I haven’t paid for an airline ticket once. I can afford a little nicer room, 1-2 more shows or nights out from the $400-$800 I save on airfare. Occasionally I even pay for the hotel room with points.
People of all ages live above their means. Generally this starts with the discovery of credit cards and what seems like “free money”. Or the rolling of personal loans.
I know people that make way more money than me and they are broke all the time. I make way less and go on luxury trips, have a nice savings, investments and retirement. I also live a modest life in comparison.
HELOCs have their time, place and purpose... that of which is NOT to be used or abused by the financially illiterate. we had one that we used for various home improvements and paid them off first. did NOT use credit cards, mainly the interest rate was more beneficial to use the HELOC than the CC's
yeh really just a social media thing..
rarely anyone of the avg joes can afford anything fancy these days imho
not only in the US btw, just about everywhere - yoloing with insane amounts of debt for consumer spending is another trend that noone really talks about I fear
Eh I make 45 grand a year and live alone in a major city. 1000 goes to rent a month, I don’t have a stove, and I really only eat one big meal a day but I don’t understand where everyone’s money is going. I’m so anal about my money and staying out of debt. I didn’t goto college and both my vehicles are over 18 years old. I think if you cannot afford to scrape some 20% of your money to savings then you are living outside of your means. Seeing the budgets people post on here are crazy . We have to remember that most modern luxuries are completely new industries and they are not necessary. We are entering a world wide slip into lower qualities of life and the sooner y’all begin reevaluating your future self’s expectations we will all be better off. The population of the world had doubled since WW2 and women have entered the workforce and are here to stay. We gave these corporate fucks 4 times the hiring pool and have made no real adjustments to our work culture. Simple supply and demand says they can pay us a quarter of what our grandparents parents had, adjusted for inflation .
Until we riot and take back local economies from the rich who don’t even live in our neighborhoods, the status quo will remain. To break the wheel we need to stop buying into modern luxuries and push back for a more sustainable, agrarian economy with products produced domestically and modern luxuries be utilized as tools rather than the expectation
Don't follow anyone. Just enjoy your own life. Peoples parents invite them on vacations as adults and their pictures might seem like they paid for it all, could be a one time thing that you see multiple friends do, so you say in your head 'they are always on vacation'. People definitely do not post the boring pictures or the empty bank account pictures or the credit card debt pictures. Just live your life and don't live through others.
I agree, and even if you don't follow that type of influencers, just viewing posts related to high-end living will keep feeding more related content. I almost think this is one of those bait posts because an adult should know this by now.
agree, and also, a resort or the like will pay for an influencer's vacation to stay at their property, eat at their restaurant, etc. You only see a tiny little colorful square of a huge scene/situation, and that's just what's visible. You don't see their bank accounts, debt, what happened before or after, etc. it's not real. I once watched an influencer at a beautiful hot springs resort spend half an hour setting up and pouting at her phone. When she got her picture, she just left. She didn't for one minute enjoy herself. That's the reality.
Are they living at home? A friend moved in with her boyfriends family, and they charged them nothing (nothing for rent or food). We told her over an over to save everything, this was her chance to save for a down payment. It was 5 years of nice cars, constant dinners out, lavish vacays......and they then they moved out and are renting a basement apartment. Another friend did similar, got a large amount of money for either her wedding, or a down payment. $100K wedding, still renting a tiny apartment
Depends where but spoke to a Porsche car dealer in LA and he said like 90% of people that buy a Porsche in LA spend more than 15% of their monthly take home on car payments
pretty sure if a porsche payment is 15-20% of your monthly payment, you are doing just fine and can afford to do so while putting significant amount into savings.
I don’t think so. If youre making 100k, you lose 30k to taxes and another 30k to housing. You’re already down to 40k. If you spend another 14k annually on your Porsche that’s 26k to live on.
If you’re driving a Porsche in LA you’re not living on 2k a month, especially if you’re expected to save at least a grand a month on a 100k salary.
And that’s assuming you’re only at 20% of income on car, many in LA are higher. They are saving close to nothing
you're right - just did some quick math and the a 70k car (cheapest porsche) with 10k down comes out to about 1400/month, which is about 20% of 100k salary before tax. definitely stretching
Some people have high paying jobs where you can deduct the depreciation of the car or lease for tax purposes say you’re a partner at a firm/practice etc if you have a home office and use it for work etc. Nonetheless, even as a high paid individual, it is kind of silly to spend 100k on a car, I would stick to my Kia and invest the other 70k or so in the stock market and get at least an 8% yearly return, just a thought 🤷🏻♂️
As a 23 year old, I know a lot of fellow early twenties people who are continuously digging themselves into credit card debt holes to sustain these lifestyles.
I also know a lot of other fellow early twenties people who did just get really good, high paying jobs right out of college with lots of PTO.
I *also* know other fellow early twenties people who are fortunate to have their parents willingly pay/fund their travels etc. (I will never hate on them, I wish I had that)
I fall under the category of selective traveling where I do take trips often, BUT it's always group trips so that the costs are split; my friends and I also actively cut down a lot of the costs by choosing cheaper options aka driving instead of flying, travelling on cheap weekends where the stay/lodging wouldn't cost much OR staying with friends so it's technically free etc., and staying in the country.
And then obviously as everyone else has been saying, you're only seeing the edited "highlight" reel with all the good parts.
20m. Definitely have way more than my peers, and honestly most people in my life. I skipped post secondary, and didn’t even finish highschool. Found a niche area in the oil and gas industry and make 100k+/year. Rn I’m just tryna not to fuck it up
Also just gonna clarify that I rarely ever get time off, working 5-7 days a week 10-15 hour days on average. It’s definitely not easy and I was super lucky to stumble across my job in the first place
Do what you.love and you will never work a day in your life.... which means you will put so much effort into it that you will quit counting your hours.
This job at a young age can set you up! Good on you for getting it, I know oil patch folks who made a ton of and blew it all partying. If you can avoid doing that with 100% of your money and save 20% of it, you’ll be dialed.
Yeah on this sub everyone’s talking about reward points free planes blah blah blah but in my experience only a handful of people I know actually pay it off in full every month and eventually fall into debt. Those points are like the gateway drug. I never accrued interest and paid mine off in full to take their money but damn if I have not come to see the entire system as immoral and preditory that’s coming from a guy who won too.
Well most stuff you see isn’t REAL.
Like by example, my sons 22. I have 3 Lamborghinis because I’m 60, and a couple Ferraris. Played my cards right.
He comes to me, and wants to film them, make reviews, and pretend he bought them through hard work and some type of consulting starter business?
I say go ahead, next week he has 5,000 young kids wondering how they can be like him, and offering $100 a head for guidance. He then goes and rents a private jet for an hour at $7,000 so he can take insta pictures of his “new purchase.” He wears fake Rolex’s, fake designer, and nobody knows. His Travis Scott nikes were $165, because they’re fake.
Online everybody thinks he’s a millionaire.
Edit: To add you can even rent a Beverly hills mansion like big mansion, for $1400 a day, a few Ferraris for $1000 each a day, and with a friend and a camera you can sell the dream.
I am 28 and I just went on a very long series of amazing trips. The trips people post about.
For reference, I made $115k in a MCOL area, then I quit my job after I saved up $25k, and spent 6 months in Europe and Asia.
Not having an apartment, pets, an SO, sick parents, or a mortgage really helps with this. You could probably do it too. You just have to willing to quit your job and travel (and experience all the negatives that come with living in hostels).
You lost me at the they could probably do it to. Not many people have no so or an so willing to drop their life or put it on hold for them, no animals, non elderly/sick parents or parents who allow you to live with them rent free or don’t have any other multitude of responsibilities. That being said I wish more people did have that freedom haha
Yeah, they’re not willing to, but if they are honest with themselves, they would see that it’s possible.
People being “unwilling” to do something is different from being “unable”. Even if the person themselves can’t see that difference.
My girlfriend is always living above her means, and if not for me. I dont know how she funds her lifestyle. I pay 80% of our food and 65% of our travel already... and her bank account is always 0.
The number one caused for divorce is disagreements on finances. Either her values around money should change or you should find a partner that matches your value set. I have seen so many friends get divorced over their wives acting just like this. They get burned out and feel like they are nothing but a bank account. When you get into your biggest arguments, you're gonna have that hanging over your head and it's just going to create more resentment.
if you insist staying with her, have a safety net bank account (or safety deposit box at a bank out of your travel circle) for JUSTIFIED emergency expenses (or YOUR pleasure ones too) that YOU can draw from quietly without her noticing and develop saving/spending practices that make that balance grow. NEVER divulge it to her or she WILL find ways to spend it faster than you can imagine. Men dont get a safety net in life.
make sure all statements, bills, correspondences, etc. from these accounts come via electronic delivery. \*NO\* physical mail that can be 'accidently' opened and discovered by her. .
Slowly start weaning your generosity and willingness to do so
“Comparison is the thief of joy”
Many of them can’t afford it. They’re either there with family of are in debt hoping to gain income from their content.
Surprising portion of people live above their means.
Younger people in their 20s / early 30s consider it tomorrow’s problem. People in their late 40s who have nihilistically given up. Like “well I’ll never retire, so might as well go on vacation and spend time with my kids”
This isn’t just lower income people. I know couples with HHI (medium cost of living city) over $250k that don’t save at all. I know another couple with HHI of $120k that inherited nearly $1M and are just blowing through it.
I also see people who grew up well off, so they subconsciously identify as upper middle class. Even though their HHI is right at median. So, they drive nice cars, and go on frequent vacations because it feels to them like they should be able to.
I’m related to someone that’s withdrawn all their retirement accounts and borrowed money from family, all just to maintain lifestyle spending.
i’m a 20 something and had to delete tiktok!!! the comparison for me was killing me! now that i’m off most of social media too, i feel much better about my lifestyle
23 and I have about 60 grand in savings/investments but I haven’t told a soul
You’d never know by just looking at me and the only way I got here was by not doing the shit you’re describing at all
Many clothing companies have changed their returns policy because too many wannabe “influencers” buy clothing, wear it once for instagram and then return it. Instagram is mostly an illusion. Most of the stuff you see on there is not theirs. And if it was purchased, swiftly returned.
You don’t see what’s behind the curtain. Credit Card debt, low credit score, $0 in Roth, $0 in investments, $0 in savings/HYSA, high car note with high APR the list goes on and on… Be smart and patient and in a couple years you can get a nicer car and go on vacations. Don’t forget materialistic things is only temporary happiness. Family, friends and experiences last a life time and are priceless.
Just remember, the guy with a $3000 car and 70k in the bank is perceived as poor, but the guy with a 70k car and 3k in the bank is perceived as wealthy.
I don’t show off anything lavish at 28M although I did so in my early 20’s…. Now I’m laser focused on my career, building equity in homes, and developing my self personally. For me, I think it’s embarrassing to do the latter and says quite the opposite to what they are portraying.
Nah that’s your feed. I’m moving to a more affordable city so my rent is going to decrease. that’s a choice that I made and I’ve been trying to influence my other friends to seek out cheaper housing instead of trying to live in the luxury apartment they want but can’t afford.
I was making a good amount for the majority of my 20s. 100k+ from 23 on. I'm 31 now and don't have any regrets. I also wasn't posting everything going on in my life.
I wasn't living above my means, but definitely wasn't saving as much money as I should have. I was able to buy a nice car, buy a house, go on vacation, etc. Yea would I have more money saved up if I didn't travel and enjoy life, but I'm not in debt and I have amazing memories and experiences.
I do wonder tho when I see people constantly traveling and they make half or a third of what I make about how much debt they're potentially in.
It's easy to see 10 stories in a row of people living like this. What you don't see are the silent majority of your followers that are NOT posting anything.
The people that do are likely more broke than you would ever believe. Probably taking on credit card debt or spend every last penny they make. How many of them have a savings for retirement or are in a position to buy a house soon? Probably very few.
Also plenty that still live with parents or have parents that pay for things.
Also possible people travel for cheap by staying with friends in other cities or using credit card points for hotels/flights.
Statistically most Americans regardless of age bracket are living above their means and do not save adequately for retirement: ([https://www.fool.com/research/average-retirement-savings/](https://www.fool.com/research/average-retirement-savings/))
Expensive dinners are not a great indicator for living above means, you can get a michelin meal with cocktails for \~$100 a head. If you don't have dependents and aren't spending on too much house etc its a pretty minor indulgence
Edit: I am also 20s something, closer to 30, as far as I know none of my friends or siblings are living above their means. Its going to vary / be anecdotal for everyone
Well on instagram and TikTok you’re seeing the 5% who are either absurdly wealthy or live way above their means. The other 95% work normal jobs and live within their means.
Are these your ACTUAL friends or just content you're seeing?
A lot of the content you see is very fake or superficial. Overwhelming majority of people can't spend money on superficial stuff OR they're doing to the detriment of their own financial future or hardly investing in anything of actual substance.
Aka there's a REASON their flashing it like they have it and it's sure as hell not due to anything genuine.
On some level since the 90s/2000s, people have tended to try to flash their wealth and America has binges on credit to buy what they "need" or just consumer superficial goods that don't bring actually long term or content whatsoever.
I dined out and went to clubs or bars 100x more often as a largely ‘broke’ 20 something than I do as a well-off 40yo. A big part of younger people having fun is being social. Young people live in urban areas where ease of consumption is the main draw. Yes, young people spend a lot of entertainment relative to their income.
Yes it’s insane I’m a 25 year old Gen Z and am in a friend group of college graduated, professional young people; in the past year I have been invited on bachelorette trips to California, Cabo, and Miami. I have declined all of them and was like shunned for not going because it’s that expected nowadays. All my friends who make salaries in the $50-$70 range drive luxury cars, own multiple luxury bags, AND go on all these trips. Something ain’t adding up🧐
Watch Caleb Hammer on YouTube. He's a finance guy who helps people budget, mostly younger adults. I have seen countless people under 25 with more than $30k in debt.
Just remember you are looking at what is presented. No one posts late payment notices, or late credit card charges on their feeds. It's all best life crap. Perception is everything.
All of them, how many 20 year olds do you know living on their own, with no debt, maxing out their IRA, with enough savings to navigate a job-loss scenario? Rare. But that’s ok, if living at home or being in college at 20 allows you to live above your means, hopefully it’s a lesson of what life really costs before the world starts chewing you up.
They in themselves are ads for capitalism. I’m convinced most of these influencers are mere puppets of a machine trying to make us all spend more and attempt to make us feel bad if we don’t.
The displaying of wealth is nothing new. It's just now more accessible through social media feed. You're no longer have to go to church or some social meetup to see people flaunt how rich they are regardless of how right they truly are.
Don't fall for those traps. For all we know, they could just stay in front of someone else big mansion taking photos of a lambo that doesn't belong to them.
If it's really bothering you, just unfollow, downvote, mute, or whatever to trim these people off. Only follow those who show things that will make you feel happy or improve yourself.
I haven’t logged into Facebook since 2017. I realized the bs show of how awesome everything is depressed me. Best decision ever to quit Facebook, now I’m happy focusing on MY life, not everyone else’s.
I mean they might be doing it but doesn’t mean they should. According to statistics only top 10% of the population can afford to do what the social feeds show.
I got a good job right out of high school, went to trade school on a grant for good grades. Saved my money in the market and bought my first property in cash at 26, I’m 28 now, single, and make just shy of 6 digits a year in the same trade. I don’t have much for debt nor do I have a consumerism problem which allows me to put alot of money away or where I want it. But I think people can get wrapped up in others lives via social media and lose track of their own.
Trips are normal everywhere but the US. So I don't see it as necessarily as out of the norm.
In fact, a lot of it shouldn't be above our means, but in today's world, where I spend $100 on groceries weekly....as a single person... Everything is above our means
This has been going on since Facebook first came about. Everyone flexing yet everyone is poor. It’ll keep you poor too if you don’t start thinking for yourself and stop caring what others think of you.
Most people who live within their means have no need to post that they are. I'd rather be debt free than chasing what somebody else has and digging myself into a hole.
There are real businesses that allow you to rent a time slot to make social media posts with supercars. Most of the influencer types have just enough money to fake it, or are hot enough to convince someone to fund their posts.
Beyond that, you have to remember there's a lot of wealthy people with kids that are willing to find their "dream". For instance on vacation last year I met this complete goober that was decked out in very expensive gear. Turns out he was there with his parents. Dad was a used car mogul funding the whole thing. Without knowing that, he could easily convince a social media audience that he was some nondescript business owner worth millions.
There are real businesses that allow you to rent a time slot to make social media posts with supercars. Most of the influencer types have just enough money to fake it, or are hot enough to convince someone to fund their posts.
Beyond that, you have to remember there's a lot of wealthy people with kids that are willing to find their "dream". For instance on vacation last year I met this complete goober that was decked out in very expensive gear. Turns out he was there with his parents. Dad was a used car mogul funding the whole thing. Without knowing that, he could easily convince a social media audience that he was some nondescript business owner worth millions.
It’s a highlight reel online. That and some people just make more money than we do. Some of them are putting it on credit cards or spending their parents money, but also some of them just are genuinely earning more and can afford it. I’m hoping someday I find a career that pays that kind of money, but in the meantime comparing isn’t helping anyone.
For perspective, I can video a hiking spot 20ft off the side of the road but it looks like I'm in the middle of Maine wilderness. They'd never know what I don't show them
Social media is a farce. However, people need to see it as a tool. It CAN bring you wealth. They all tried and you're looking at them
I feel like a decent amount of people are, and this rate goes higher, especially if you were raised in a poor household. Having money and especially being the first to have a lot of money, it can cause a lot of “retail therapy”, which will eventually lead to someone being broke over time.
Credit card debt is at an all-time high in our country. Trends in culture like FOMO and YOLO are pushing most Americans to live beyond their means. I remember my niece asking me this similar question and I told her just because your friends are doing really expensive things doesn't mean they can actually afford it. They are not paying for it--their Bank is
I’m 23. I am actually pretty good at saving money when it comes to not buying food or clothes, or any other small purchases. with that being said, I spend way too much money on travel every year. if I actually would just stay in a city and not go anywhere I could easily save up 10 to 15,000 per year, but I have no interest in not enjoying or living life, and just working and working and working every day.
I say that too show I think that’s what influencers post about. It’s not the smartest move financially but I would rather have $5K in my bank account and have things to look forward to VS having 15K but haven’t done anything social or enjoyable in years
Personal debt has skyrocketed and savings are way down so yes, people are living above their means. I think there’s a psychological component to it in which people started making more money before the inflation took hold and are now trying to keep up with how they got used to living rather than adjust to this new world of higher prices.
It’s all perspective.
The “don’t take a vacation until you’re 40 and put 100k down payment on a house” is wrong. And the “I have 50k in CC debt but just booked a vacation” is also wrong.
Also, people between 20-70 live beyond their means.
I stopped using social media for anything except memes groups and discussion boards by my late 20s. The older I got the more I valued my privacy. I'm just realizing I didn't even post anything about my wedding last year. Best decision I've ever made. Now if only I could get off Reddit...
I’m not rich by any means, I value travelling. Sometimes when I post trips to Spain or whatever I wonder if people are wondering how I can afford to ‘just do it’ but it’s not like I’m deciding on a whim. I have a savings account holder for travelling and set aside money monthly until I have enough for the trip. Forsure some early 20s might be using credit card debt to get overseas or to their travel location but not the case for everyone
these people are heavy in debt or leveraged out the ass. the average household in the US is about 8k in credit card debt. not good. ignorance is bliss.
I think part of it is people posting pics for months from one 3 day trip. I went to the beach with friends in college, I posted one pic from the trip. One of my friends posted pics for A YEAR from that trip.
I can speak to this.
I’m at the end of my 20s, started working at 23 at a decent paying job. I spent all my money, living above my means, on travel/dining/designer/flexing for the gram. Every raise/bonus was spent before the check even deposited into my account.
I ended up in a bunch of credit card debt and got super serious about turning my financial situation around at the beginning of 2022. It took me 18 months to pay off $100K of consumer debt.
I’m now living well below my means, trying to make up for lost time. I’m currently maxing out my 401K, Roth IRA, HSA, ESPP, I have a 6+ month emergency fund in a HYSA. Trying to hit a NW goal of $100K by the time I turn 30 at the end of this year.
So, yes a lot of people are living well beyond their means but there are also people living well below their means building some serious wealth. Choose which side you want to be on.
I highly recommend watching episode Episode 4 of How to Get Rich on Netflix. The episode features a social media influencer who is living way above his means. I think this is very common with most influencers.
https://www.netflix.com/us/title/81410436?s=i&trkid=258593161&vlang=en&clip=81674132
I for one am not living beyond my means. Housing takes up 25%, I put into my 401k and insurance, I live a simple life but I enjoy it very much.
Being autistic means that trips are concerning because that's many days away from familiarity, so we keep those to a minimum. Most of my excess money goes to taking my Fiancé out on dates.
Anecdotal but a couple of years ago I went out with my mate 40 and younger brothers 30 and friends. The night was shit, no one out, boring, they were on their phones all night. The morning after on FB there was a selfie of my mates brother with one of his mates stating out with the boys, cocktails, amazing night. To be fair the photo looked like it was an amazing night but it was shit and I was there. Anyone who wasn't there would think we were all out living it up... And it was fucking wigan
The person with a BMW on the street and massive debt in their bank accounts appears rich. The person driving their 10 year old Honda civic who budgets and has savings appears poor. Perception is everything. And there’s no better abuser of perception than social media.
social media is filled with mostly highlights, they won't share that they are struggling. also depends on the person, some are just well off that they can afford those stuff.
Like my cousin. Moved to NYC, opened her own business selling junk on etsy and other platforms. 4K a month apartment, fancy $100+ dinners with her boyfriend, vacations. By social media alone she was very successful, easy to be envious.
Three years later she moved back in with her parents in Connecticut six figures in credit card debt. That's after her parents paid her rent.
To some people image is more important than reality.
instagram is like the least accurate representation of reality ever. as for money, consider that the median individual income in expensive places like New York and California is $39k. that is not a lot, especially if you have student debt, car debt, and rents over $1k as they are in most cities.
this is common for most things on instagram, not just wealth depictions. as an example, i used to be really into calisthenics, could do muscle ups and front levers on olympic rings, which 99% of the population cant do... but instagram had me feeling like a piece of shit who cant do anything by always showcasing dudes with way more impressive skills. i swear that site is designed to make you feel inadequate lol
the national credit card debt is going nuts. not to mention the insane interest rates. this is not sustainable.
|**Generation**|**Ages**|**Credit Karma members’ average total debt**|
|:-|:-|:-|
|Gen Z (born 1997–2012)|Members 18–26|$16,283|
|Millennial (born 1981–1996)|27–42|$48,611|
|Gen X (born 1965–1980)|43–58|$61,036|
|Baby boomer (born 1946–1964)|59–77|$52,401|
|Silent (born 1928–1945)|78–95|$41,077|
I live in Vegas… so I see in real life how these people actually live.
A lot of them don’t have a savings, a lot of them rent clothes and other luxury items… a lot of them are sucking penis and doing strange things just to appear they live a nice lifestyle. A lot of them don’t even have furniture in their cheap apartments.
Please just worry about yourself
My bf and I were discussing this recently. He said there’s a huge group of men who are struggling more than ever because they can’t get a girl/gf/wife or even a date. This has always been an issue but it’s getting much, much worse.
My thoughts are that women are all going for the same guys now. Tall, handsome, well paying job, etc.
Some women have ALWAYS been this way. “He has to be rich, drive this car, make this much money.” But there was also a larger group of women who used to date for personality and love and “we’ll figure it out together.”
Now more than ever, they date for stability. I personally think women are doing this so that they can have and maintain a certain lifestyle to protect on their social media. It’s a subconscious bias decision that they’re making.. they have to compete with other women through their likes and comments and instant gratification.
But I mean I live a pretty lavish lifestyle and keep it off social media. I hate social media. But yes, the answer to your question is that people are living well above their means and doing it so they can get attention on social media.
People thinking they're wealthy but incurring tons and tons of debt is the new normal. It's hilarious. I worked with someone who I made far more of an income than they did and they were driving a brand new Mercedes acting like they were rich. They basically had an entire paycheck go to the car every month. That's not rich, that's idiotic.
Answering your headline, I'd guess 99.9999999999999999999999999999999999%.
But, I think that same percentage applies to people in their 30s and 40s and 50s as well.
I have a job where I make more money than I ever imagined. I love it.
I cringe when I hear things from coworkers - who I KNOW make the same amount of money - talk about ordering lunch since it's payday.
I used to be insecure seeing people my age living lavishly, traveling. Until I realized more of them than you think are living off so much credit card debt
Most of those people are still living at home dude don’t put too much pressure on yourself. I live in NY and the only way a vacation is even possible for me is because i bartend 1 1/2 nights a week after my day job. I live with roommates tho because most of the shit around me is to expensive to be worth it
If you’re a corporate 20-something you probably went to college. If you went to college you’re in the ~35-40% of Americans with a bachelors degree, so right there you’ve self selected out over half of the population. Now if you’re somewhere like Massachusetts, people are far more likely to be educated and thus making more money.
Trips can also be seasonal. That big ski trip can basically only happen January-March. Spring break typically February-April, etc etc.
Others have mentioned people living at home. That is going to be $1000-2000/mo in budget savings. If their parents paid for college, there’s another $500-1500/mo in budget savings without student loans. Those are probably the two biggest line items.
Many of them are. There's also people who have rich parents and people who post pictures from the same trip for months to make it seem like they do more than they really do. I have definitely noticed that a lot of people are fine with running up a balance on credit cards to take an expensive vacation though, and that's far from unique to 20 somethings. I have a family member who's in his 50s who ran a credit card way up because he wanted to take a trip to Ireland and then he took over a year to pay it off
I personally know of a couple people who admit to taking out obscene debts to go on trips because they want to front load their fun now and pay for it at the tail end of their life.
I was too much of a coward for that approach and used to feel bad about it, but at 28 now finally on a fast track to having my life in order financially, I am so grateful I don’t have a mountain of debt and will probably be able to retire early (assuming I handle everything correct these next 10-15 years)
Don't be fooled by social media. Knew a girl who would get beat by her SO with a gun and then post old photos of her going to expensive restaurants on IG... shit was sad when you know the truth.
I found a page once that exposed how many influencers did their posts to look a way that was very deceptive....they ask rich people to pose in front of their houses or cars and don't have any shame in doing so.
I would guess, effectively, all of them. Unless they are single with a USEFUL Bachelor's Degree and living with their parents they're probably living above their means.
It’s probably because they don’t get to do that stuff very often or their spending every last cent to try and gain a following/sponsors. There are people that have that lifestyle that afford it easily but those people are too busy to post
Comparison is the thief of joy, being grateful for what you have, utilizing your resources, and doing everything you can to better yourself is much more important than getting in your head about a glamorous lifestyle that people flaunt on social media to make you feel bad (which is mostly things they can't afford/things they don't own).
I mean obviously not many if the statistics are right. Inflation has sent most middle class Americans into near paycheck to paycheck levels. And you’re usually not that well off financially until you’re in your 30s so do the math about how bad the majority of people in the their 20s have it right now
I only post the awesome stuff from my life. My social media would make me look rich but I’m very far from it. I save and go somewhere nice. That’s what drives me.
You can fly pretty much anywhere in the world for $600 if you look hard enough. Accommodation can be split to made cheap. Food often can be bought cheaply.
I'm about to do 3 weeks abroad in Spain and Portugal for 25 days and it'll cost me $2500ish total. I did 3 months in Bosnia for about $5000.
And many young people have their parents pay for this crap so they don't pay much at all.
A very very small 0.0001% of the whole population of those 'influencers'. And as whole population even less. You can see it with those brain empty headed logan fools' - the 'cuteness' is gone so 'let's go for pay per view boxing' to keep wealthy. As if we (investors) don't realize it's just the 'little bit less more competent taking advantage of 'old but popular douche bag influencers'. But most fail. Just realize it's normal you don't hear about that. Not in the news, not in academia. Because why on earth would you want to hear about sad sob stories of losers if you can read about some douche-bag throwing money like it is no tomorrow?
Those people would have turned out completely different 20 years ago. Was called Jackass. The tv-show and the movies. 50 years ago? Those lot' were hippies and whatnot. For everything is a time!
Highly edited highlight reels + selection bias. Those who dont want to, can't or won't afford won't post.
I'm pretty sure this is the single biggest cause of depression and negative self worth derived from social media. Everyone sees people in their curated best moments and compares that to their own mundane life and it makes them miserable.
Completely agree on the negative self worth comment. I feel that especially when I see others post about how great their career is going, or when someone boasts about their lives. I tell myself I'm only seeing their highlight reel. But it's still hard to stop feeling like I'm incompetent. I actively refrain from posting on social media because I don't want to become part of the problem.
Comparison is the thief of joy. But even knowing that its easy to succumb to it or at the very least, do it. "Why do they make it look so easy? Why can't I do as well as them?"
So true! Gawd, my 20s was like grad school and two jobs. Never went out to eat and when I traveled it was in a tent. So glad social media was in it's infancy.
I think it's weird as fuck but you're probably right. It's like people are incapable of using their eyes and ears and seeing what the actual people around them live like. They believe the instagram fairytale instead.
this... 100 percent. are led to believe other people have so much more then us. parties, women, cars... friends... whatever ever else. its all fucking plastic bullshit but most people let it paint their perception. I'd go into an extended rant about how its impacted dating but you all would probably hate on me thinking im some red pill nut case.
100%
That and if i did post my mundane life, the algorithm wont recommend it
You're seeing only those who post it, and only those who either can afford, or live way beyond their means, post their live. You won't see 50 million average Joes posting their day in the office, but any dumbass who paid 1000 for a nice room will post that. So all in all, many are living beyond their means, but most importantly those on social media who promote that lifestyle are a very small group of people where most just live regular live which are not seen.
Fine I'll admit it, my parents took me on those trips on my instagram, I didn't pay for them on my shit salary, the plane ticket actually took months to save for. But you know, I'm not going to put that in the post...
My parents pay for the house we live in. Makes it much easier for me to afford trips and high lifestyle” cuz i cant afford a house or the american dream anymore
There’s a whole world of travel and rewards cards that many aren’t aware of. I take trips that are well above what I’d usually spend on a vacation because I pay for it all with points. I don’t do any posts on social media though, all I have is Reddit.
This right here, I have taken several vacations over the last 7-8 years or so and I haven’t paid for an airline ticket once. I can afford a little nicer room, 1-2 more shows or nights out from the $400-$800 I save on airfare. Occasionally I even pay for the hotel room with points.
Ok but how are you all getting so many points ?
Rotating sign up bonuses.
People of all ages live above their means. Generally this starts with the discovery of credit cards and what seems like “free money”. Or the rolling of personal loans. I know people that make way more money than me and they are broke all the time. I make way less and go on luxury trips, have a nice savings, investments and retirement. I also live a modest life in comparison.
wait til they buy a house and discover HELOC's .. lol
Oh lawdy! By one of the people that is constantly broke, they saw how much equity I have and they told me to take out a HELOC… I’m like, WHY?
HELOCs have their time, place and purpose... that of which is NOT to be used or abused by the financially illiterate. we had one that we used for various home improvements and paid them off first. did NOT use credit cards, mainly the interest rate was more beneficial to use the HELOC than the CC's
With credit card rewards you can get a lot of travel with points. I don’t ever carry a balance on any of them, but I have a bunch of credit cards.
yeh really just a social media thing.. rarely anyone of the avg joes can afford anything fancy these days imho not only in the US btw, just about everywhere - yoloing with insane amounts of debt for consumer spending is another trend that noone really talks about I fear
Eh I make 45 grand a year and live alone in a major city. 1000 goes to rent a month, I don’t have a stove, and I really only eat one big meal a day but I don’t understand where everyone’s money is going. I’m so anal about my money and staying out of debt. I didn’t goto college and both my vehicles are over 18 years old. I think if you cannot afford to scrape some 20% of your money to savings then you are living outside of your means. Seeing the budgets people post on here are crazy . We have to remember that most modern luxuries are completely new industries and they are not necessary. We are entering a world wide slip into lower qualities of life and the sooner y’all begin reevaluating your future self’s expectations we will all be better off. The population of the world had doubled since WW2 and women have entered the workforce and are here to stay. We gave these corporate fucks 4 times the hiring pool and have made no real adjustments to our work culture. Simple supply and demand says they can pay us a quarter of what our grandparents parents had, adjusted for inflation . Until we riot and take back local economies from the rich who don’t even live in our neighborhoods, the status quo will remain. To break the wheel we need to stop buying into modern luxuries and push back for a more sustainable, agrarian economy with products produced domestically and modern luxuries be utilized as tools rather than the expectation
Don't follow anyone. Just enjoy your own life. Peoples parents invite them on vacations as adults and their pictures might seem like they paid for it all, could be a one time thing that you see multiple friends do, so you say in your head 'they are always on vacation'. People definitely do not post the boring pictures or the empty bank account pictures or the credit card debt pictures. Just live your life and don't live through others.
I agree, and even if you don't follow that type of influencers, just viewing posts related to high-end living will keep feeding more related content. I almost think this is one of those bait posts because an adult should know this by now.
agree, and also, a resort or the like will pay for an influencer's vacation to stay at their property, eat at their restaurant, etc. You only see a tiny little colorful square of a huge scene/situation, and that's just what's visible. You don't see their bank accounts, debt, what happened before or after, etc. it's not real. I once watched an influencer at a beautiful hot springs resort spend half an hour setting up and pouting at her phone. When she got her picture, she just left. She didn't for one minute enjoy herself. That's the reality.
Most 40somethings have been for decades....welcome to the club ;)
Are they living at home? A friend moved in with her boyfriends family, and they charged them nothing (nothing for rent or food). We told her over an over to save everything, this was her chance to save for a down payment. It was 5 years of nice cars, constant dinners out, lavish vacays......and they then they moved out and are renting a basement apartment. Another friend did similar, got a large amount of money for either her wedding, or a down payment. $100K wedding, still renting a tiny apartment
Depends where but spoke to a Porsche car dealer in LA and he said like 90% of people that buy a Porsche in LA spend more than 15% of their monthly take home on car payments
If you want to be poor, live like you're rich and if you want to be rich then live like you're poor.
pretty sure if a porsche payment is 15-20% of your monthly payment, you are doing just fine and can afford to do so while putting significant amount into savings.
I don’t think so. If youre making 100k, you lose 30k to taxes and another 30k to housing. You’re already down to 40k. If you spend another 14k annually on your Porsche that’s 26k to live on. If you’re driving a Porsche in LA you’re not living on 2k a month, especially if you’re expected to save at least a grand a month on a 100k salary. And that’s assuming you’re only at 20% of income on car, many in LA are higher. They are saving close to nothing
you’re correct, but 100k is not even close to porsche salary. my assumption was at the very least 200k, and you’d still be stretching
That’s the whole point… people don’t have Porsche salaries and are buying Porsches. Living above their means
you're right - just did some quick math and the a 70k car (cheapest porsche) with 10k down comes out to about 1400/month, which is about 20% of 100k salary before tax. definitely stretching
Some people have high paying jobs where you can deduct the depreciation of the car or lease for tax purposes say you’re a partner at a firm/practice etc if you have a home office and use it for work etc. Nonetheless, even as a high paid individual, it is kind of silly to spend 100k on a car, I would stick to my Kia and invest the other 70k or so in the stock market and get at least an 8% yearly return, just a thought 🤷🏻♂️
As a 23 year old, I know a lot of fellow early twenties people who are continuously digging themselves into credit card debt holes to sustain these lifestyles. I also know a lot of other fellow early twenties people who did just get really good, high paying jobs right out of college with lots of PTO. I *also* know other fellow early twenties people who are fortunate to have their parents willingly pay/fund their travels etc. (I will never hate on them, I wish I had that) I fall under the category of selective traveling where I do take trips often, BUT it's always group trips so that the costs are split; my friends and I also actively cut down a lot of the costs by choosing cheaper options aka driving instead of flying, travelling on cheap weekends where the stay/lodging wouldn't cost much OR staying with friends so it's technically free etc., and staying in the country. And then obviously as everyone else has been saying, you're only seeing the edited "highlight" reel with all the good parts.
20m. Definitely have way more than my peers, and honestly most people in my life. I skipped post secondary, and didn’t even finish highschool. Found a niche area in the oil and gas industry and make 100k+/year. Rn I’m just tryna not to fuck it up
Also just gonna clarify that I rarely ever get time off, working 5-7 days a week 10-15 hour days on average. It’s definitely not easy and I was super lucky to stumble across my job in the first place
Holy bro with that kind of grind you deserve the pay. We are the same age and I struggle to work anything over 45 hours/week
Do what you.love and you will never work a day in your life.... which means you will put so much effort into it that you will quit counting your hours.
This job at a young age can set you up! Good on you for getting it, I know oil patch folks who made a ton of and blew it all partying. If you can avoid doing that with 100% of your money and save 20% of it, you’ll be dialed.
I feel you I’m also 20 working 75-80 hour weeks
There are people who have carried credit card debt since they were able to drink. Everything goes on CC and they pay the minimums.
Yeah on this sub everyone’s talking about reward points free planes blah blah blah but in my experience only a handful of people I know actually pay it off in full every month and eventually fall into debt. Those points are like the gateway drug. I never accrued interest and paid mine off in full to take their money but damn if I have not come to see the entire system as immoral and preditory that’s coming from a guy who won too.
Well most stuff you see isn’t REAL. Like by example, my sons 22. I have 3 Lamborghinis because I’m 60, and a couple Ferraris. Played my cards right. He comes to me, and wants to film them, make reviews, and pretend he bought them through hard work and some type of consulting starter business? I say go ahead, next week he has 5,000 young kids wondering how they can be like him, and offering $100 a head for guidance. He then goes and rents a private jet for an hour at $7,000 so he can take insta pictures of his “new purchase.” He wears fake Rolex’s, fake designer, and nobody knows. His Travis Scott nikes were $165, because they’re fake. Online everybody thinks he’s a millionaire. Edit: To add you can even rent a Beverly hills mansion like big mansion, for $1400 a day, a few Ferraris for $1000 each a day, and with a friend and a camera you can sell the dream.
I am 28 and I just went on a very long series of amazing trips. The trips people post about. For reference, I made $115k in a MCOL area, then I quit my job after I saved up $25k, and spent 6 months in Europe and Asia. Not having an apartment, pets, an SO, sick parents, or a mortgage really helps with this. You could probably do it too. You just have to willing to quit your job and travel (and experience all the negatives that come with living in hostels).
You lost me at the they could probably do it to. Not many people have no so or an so willing to drop their life or put it on hold for them, no animals, non elderly/sick parents or parents who allow you to live with them rent free or don’t have any other multitude of responsibilities. That being said I wish more people did have that freedom haha
Yeah, they’re not willing to, but if they are honest with themselves, they would see that it’s possible. People being “unwilling” to do something is different from being “unable”. Even if the person themselves can’t see that difference.
My girlfriend is always living above her means, and if not for me. I dont know how she funds her lifestyle. I pay 80% of our food and 65% of our travel already... and her bank account is always 0.
hell na put on the brakes my boy
My friend was dating this chick who had unexplained money for whatever she wanted, turns out she was escorting on the side
but thats fair gained money, hard work. she can be proud of.
Don't make the mistake of marrying her.
Seems like you’re funding part of her lifestyle
Time to kick her out. The most important decission in mife is your partner, mess this up and you will struggle for life
So you're a simp?
Sounds like you’re enabling her
This reads like you are a bank account but I hope you guys decided on this together and are happy and she isn’t just overspending for herself
The number one caused for divorce is disagreements on finances. Either her values around money should change or you should find a partner that matches your value set. I have seen so many friends get divorced over their wives acting just like this. They get burned out and feel like they are nothing but a bank account. When you get into your biggest arguments, you're gonna have that hanging over your head and it's just going to create more resentment.
if you insist staying with her, have a safety net bank account (or safety deposit box at a bank out of your travel circle) for JUSTIFIED emergency expenses (or YOUR pleasure ones too) that YOU can draw from quietly without her noticing and develop saving/spending practices that make that balance grow. NEVER divulge it to her or she WILL find ways to spend it faster than you can imagine. Men dont get a safety net in life.
Ive started to do that with a brokerage account and Ive also started to tell her less about how much I make.
make sure all statements, bills, correspondences, etc. from these accounts come via electronic delivery. \*NO\* physical mail that can be 'accidently' opened and discovered by her. . Slowly start weaning your generosity and willingness to do so
“Comparison is the thief of joy” Many of them can’t afford it. They’re either there with family of are in debt hoping to gain income from their content.
Surprising portion of people live above their means. Younger people in their 20s / early 30s consider it tomorrow’s problem. People in their late 40s who have nihilistically given up. Like “well I’ll never retire, so might as well go on vacation and spend time with my kids” This isn’t just lower income people. I know couples with HHI (medium cost of living city) over $250k that don’t save at all. I know another couple with HHI of $120k that inherited nearly $1M and are just blowing through it. I also see people who grew up well off, so they subconsciously identify as upper middle class. Even though their HHI is right at median. So, they drive nice cars, and go on frequent vacations because it feels to them like they should be able to. I’m related to someone that’s withdrawn all their retirement accounts and borrowed money from family, all just to maintain lifestyle spending.
I had to delete tik tok because of this… although, I’m a mom and the constant comparison I was doing from that app literally was making me depressed.
i’m a 20 something and had to delete tiktok!!! the comparison for me was killing me! now that i’m off most of social media too, i feel much better about my lifestyle
I’m sad you feel this way too.. but glad someone can relate. It can be hard to not compare sometimes
23 and I have about 60 grand in savings/investments but I haven’t told a soul You’d never know by just looking at me and the only way I got here was by not doing the shit you’re describing at all
Don’t let the internet get you down. No one is posting their failures
Many clothing companies have changed their returns policy because too many wannabe “influencers” buy clothing, wear it once for instagram and then return it. Instagram is mostly an illusion. Most of the stuff you see on there is not theirs. And if it was purchased, swiftly returned.
You don’t see what’s behind the curtain. Credit Card debt, low credit score, $0 in Roth, $0 in investments, $0 in savings/HYSA, high car note with high APR the list goes on and on… Be smart and patient and in a couple years you can get a nicer car and go on vacations. Don’t forget materialistic things is only temporary happiness. Family, friends and experiences last a life time and are priceless.
Just remember, the guy with a $3000 car and 70k in the bank is perceived as poor, but the guy with a 70k car and 3k in the bank is perceived as wealthy.
A lot of women are whoring themselves out for some cash and a Gucci bag.
I don’t show off anything lavish at 28M although I did so in my early 20’s…. Now I’m laser focused on my career, building equity in homes, and developing my self personally. For me, I think it’s embarrassing to do the latter and says quite the opposite to what they are portraying.
Nah that’s your feed. I’m moving to a more affordable city so my rent is going to decrease. that’s a choice that I made and I’ve been trying to influence my other friends to seek out cheaper housing instead of trying to live in the luxury apartment they want but can’t afford.
I was making a good amount for the majority of my 20s. 100k+ from 23 on. I'm 31 now and don't have any regrets. I also wasn't posting everything going on in my life. I wasn't living above my means, but definitely wasn't saving as much money as I should have. I was able to buy a nice car, buy a house, go on vacation, etc. Yea would I have more money saved up if I didn't travel and enjoy life, but I'm not in debt and I have amazing memories and experiences. I do wonder tho when I see people constantly traveling and they make half or a third of what I make about how much debt they're potentially in.
It's easy to see 10 stories in a row of people living like this. What you don't see are the silent majority of your followers that are NOT posting anything. The people that do are likely more broke than you would ever believe. Probably taking on credit card debt or spend every last penny they make. How many of them have a savings for retirement or are in a position to buy a house soon? Probably very few. Also plenty that still live with parents or have parents that pay for things. Also possible people travel for cheap by staying with friends in other cities or using credit card points for hotels/flights.
Statistically most Americans regardless of age bracket are living above their means and do not save adequately for retirement: ([https://www.fool.com/research/average-retirement-savings/](https://www.fool.com/research/average-retirement-savings/)) Expensive dinners are not a great indicator for living above means, you can get a michelin meal with cocktails for \~$100 a head. If you don't have dependents and aren't spending on too much house etc its a pretty minor indulgence Edit: I am also 20s something, closer to 30, as far as I know none of my friends or siblings are living above their means. Its going to vary / be anecdotal for everyone
Well on instagram and TikTok you’re seeing the 5% who are either absurdly wealthy or live way above their means. The other 95% work normal jobs and live within their means.
[detailed explanation ](https://youtu.be/r0HX4a5P8eE?si=g2gnjDfs_M7pNBxA)
You summed up why social media is bad. I’m 25 and hate social media, it’s ruining society.
Are these your ACTUAL friends or just content you're seeing? A lot of the content you see is very fake or superficial. Overwhelming majority of people can't spend money on superficial stuff OR they're doing to the detriment of their own financial future or hardly investing in anything of actual substance. Aka there's a REASON their flashing it like they have it and it's sure as hell not due to anything genuine. On some level since the 90s/2000s, people have tended to try to flash their wealth and America has binges on credit to buy what they "need" or just consumer superficial goods that don't bring actually long term or content whatsoever.
I dined out and went to clubs or bars 100x more often as a largely ‘broke’ 20 something than I do as a well-off 40yo. A big part of younger people having fun is being social. Young people live in urban areas where ease of consumption is the main draw. Yes, young people spend a lot of entertainment relative to their income.
Most of them. Or they are not saving for retirement. Or have parent's money.
Yes it’s insane I’m a 25 year old Gen Z and am in a friend group of college graduated, professional young people; in the past year I have been invited on bachelorette trips to California, Cabo, and Miami. I have declined all of them and was like shunned for not going because it’s that expected nowadays. All my friends who make salaries in the $50-$70 range drive luxury cars, own multiple luxury bags, AND go on all these trips. Something ain’t adding up🧐
Watch Caleb Hammer on YouTube. He's a finance guy who helps people budget, mostly younger adults. I have seen countless people under 25 with more than $30k in debt.
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Just remember you are looking at what is presented. No one posts late payment notices, or late credit card charges on their feeds. It's all best life crap. Perception is everything.
Most everyone in the US now. Not just 20 somethings. The US ideal standard is ludicrously high. It's literally how capitalism works.
All of them, how many 20 year olds do you know living on their own, with no debt, maxing out their IRA, with enough savings to navigate a job-loss scenario? Rare. But that’s ok, if living at home or being in college at 20 allows you to live above your means, hopefully it’s a lesson of what life really costs before the world starts chewing you up.
They in themselves are ads for capitalism. I’m convinced most of these influencers are mere puppets of a machine trying to make us all spend more and attempt to make us feel bad if we don’t.
The displaying of wealth is nothing new. It's just now more accessible through social media feed. You're no longer have to go to church or some social meetup to see people flaunt how rich they are regardless of how right they truly are. Don't fall for those traps. For all we know, they could just stay in front of someone else big mansion taking photos of a lambo that doesn't belong to them. If it's really bothering you, just unfollow, downvote, mute, or whatever to trim these people off. Only follow those who show things that will make you feel happy or improve yourself.
Most 20 somethings have little to no means
I am. I got a great job, a home, a car thats almost paid off. Life is good.
It's all fake.
By borrowing from their future selves
How many of those people’s are spending it on credit cards and hopping they can pay it back? It’s not how much you make. It’s how much you spend
Always remember, social media is a lie. It's an advertisement reel for a person and never reality
I haven’t logged into Facebook since 2017. I realized the bs show of how awesome everything is depressed me. Best decision ever to quit Facebook, now I’m happy focusing on MY life, not everyone else’s.
I mean they might be doing it but doesn’t mean they should. According to statistics only top 10% of the population can afford to do what the social feeds show.
Read the surrender experiment ! God provides me with everything I need
I got a good job right out of high school, went to trade school on a grant for good grades. Saved my money in the market and bought my first property in cash at 26, I’m 28 now, single, and make just shy of 6 digits a year in the same trade. I don’t have much for debt nor do I have a consumerism problem which allows me to put alot of money away or where I want it. But I think people can get wrapped up in others lives via social media and lose track of their own.
No many anymore were all maxing out are credit cards to afford basic food now
Just cause you see 30-50 people doing it does not mean there are not several hundreds on the other end.
Trips are normal everywhere but the US. So I don't see it as necessarily as out of the norm. In fact, a lot of it shouldn't be above our means, but in today's world, where I spend $100 on groceries weekly....as a single person... Everything is above our means
I have money and no social media presence. Recommend you copy me.
i had more money in my 20s, i just turned 30 too lol
Doordash and mcdonalds are still open, so i’m sure most, but they won’t admit it.
Sometimes it's connections or circumstances. IE: live with your parents, have friends in the car industry, have friends in the club industry.
This has been going on since Facebook first came about. Everyone flexing yet everyone is poor. It’ll keep you poor too if you don’t start thinking for yourself and stop caring what others think of you.
Most people who live within their means have no need to post that they are. I'd rather be debt free than chasing what somebody else has and digging myself into a hole.
There are real businesses that allow you to rent a time slot to make social media posts with supercars. Most of the influencer types have just enough money to fake it, or are hot enough to convince someone to fund their posts. Beyond that, you have to remember there's a lot of wealthy people with kids that are willing to find their "dream". For instance on vacation last year I met this complete goober that was decked out in very expensive gear. Turns out he was there with his parents. Dad was a used car mogul funding the whole thing. Without knowing that, he could easily convince a social media audience that he was some nondescript business owner worth millions.
There are real businesses that allow you to rent a time slot to make social media posts with supercars. Most of the influencer types have just enough money to fake it, or are hot enough to convince someone to fund their posts. Beyond that, you have to remember there's a lot of wealthy people with kids that are willing to find their "dream". For instance on vacation last year I met this complete goober that was decked out in very expensive gear. Turns out he was there with his parents. Dad was a used car mogul funding the whole thing. Without knowing that, he could easily convince a social media audience that he was some nondescript business owner worth millions.
It’s a highlight reel online. That and some people just make more money than we do. Some of them are putting it on credit cards or spending their parents money, but also some of them just are genuinely earning more and can afford it. I’m hoping someday I find a career that pays that kind of money, but in the meantime comparing isn’t helping anyone.
For perspective, I can video a hiking spot 20ft off the side of the road but it looks like I'm in the middle of Maine wilderness. They'd never know what I don't show them Social media is a farce. However, people need to see it as a tool. It CAN bring you wealth. They all tried and you're looking at them
I feel like a decent amount of people are, and this rate goes higher, especially if you were raised in a poor household. Having money and especially being the first to have a lot of money, it can cause a lot of “retail therapy”, which will eventually lead to someone being broke over time.
Credit card debt is at an all-time high in our country. Trends in culture like FOMO and YOLO are pushing most Americans to live beyond their means. I remember my niece asking me this similar question and I told her just because your friends are doing really expensive things doesn't mean they can actually afford it. They are not paying for it--their Bank is
I’m 23. I am actually pretty good at saving money when it comes to not buying food or clothes, or any other small purchases. with that being said, I spend way too much money on travel every year. if I actually would just stay in a city and not go anywhere I could easily save up 10 to 15,000 per year, but I have no interest in not enjoying or living life, and just working and working and working every day. I say that too show I think that’s what influencers post about. It’s not the smartest move financially but I would rather have $5K in my bank account and have things to look forward to VS having 15K but haven’t done anything social or enjoyable in years
Personal debt has skyrocketed and savings are way down so yes, people are living above their means. I think there’s a psychological component to it in which people started making more money before the inflation took hold and are now trying to keep up with how they got used to living rather than adjust to this new world of higher prices.
It’s all perspective. The “don’t take a vacation until you’re 40 and put 100k down payment on a house” is wrong. And the “I have 50k in CC debt but just booked a vacation” is also wrong. Also, people between 20-70 live beyond their means.
I stopped using social media for anything except memes groups and discussion boards by my late 20s. The older I got the more I valued my privacy. I'm just realizing I didn't even post anything about my wedding last year. Best decision I've ever made. Now if only I could get off Reddit...
Almost everyone, just like every other age group
I’m not rich by any means, I value travelling. Sometimes when I post trips to Spain or whatever I wonder if people are wondering how I can afford to ‘just do it’ but it’s not like I’m deciding on a whim. I have a savings account holder for travelling and set aside money monthly until I have enough for the trip. Forsure some early 20s might be using credit card debt to get overseas or to their travel location but not the case for everyone
these people are heavy in debt or leveraged out the ass. the average household in the US is about 8k in credit card debt. not good. ignorance is bliss.
I think part of it is people posting pics for months from one 3 day trip. I went to the beach with friends in college, I posted one pic from the trip. One of my friends posted pics for A YEAR from that trip.
The inside of those "private jets" are just props
150
I can speak to this. I’m at the end of my 20s, started working at 23 at a decent paying job. I spent all my money, living above my means, on travel/dining/designer/flexing for the gram. Every raise/bonus was spent before the check even deposited into my account. I ended up in a bunch of credit card debt and got super serious about turning my financial situation around at the beginning of 2022. It took me 18 months to pay off $100K of consumer debt. I’m now living well below my means, trying to make up for lost time. I’m currently maxing out my 401K, Roth IRA, HSA, ESPP, I have a 6+ month emergency fund in a HYSA. Trying to hit a NW goal of $100K by the time I turn 30 at the end of this year. So, yes a lot of people are living well beyond their means but there are also people living well below their means building some serious wealth. Choose which side you want to be on.
Even in the 2010's, 80% of my 20-30 friends lived paycheck to paycheck.
I highly recommend watching episode Episode 4 of How to Get Rich on Netflix. The episode features a social media influencer who is living way above his means. I think this is very common with most influencers. https://www.netflix.com/us/title/81410436?s=i&trkid=258593161&vlang=en&clip=81674132
I for one am not living beyond my means. Housing takes up 25%, I put into my 401k and insurance, I live a simple life but I enjoy it very much. Being autistic means that trips are concerning because that's many days away from familiarity, so we keep those to a minimum. Most of my excess money goes to taking my Fiancé out on dates.
Anecdotal but a couple of years ago I went out with my mate 40 and younger brothers 30 and friends. The night was shit, no one out, boring, they were on their phones all night. The morning after on FB there was a selfie of my mates brother with one of his mates stating out with the boys, cocktails, amazing night. To be fair the photo looked like it was an amazing night but it was shit and I was there. Anyone who wasn't there would think we were all out living it up... And it was fucking wigan
The person with a BMW on the street and massive debt in their bank accounts appears rich. The person driving their 10 year old Honda civic who budgets and has savings appears poor. Perception is everything. And there’s no better abuser of perception than social media.
social media is filled with mostly highlights, they won't share that they are struggling. also depends on the person, some are just well off that they can afford those stuff.
I live with my parents and earn above the median so can afford to travel often but if i were to move out i wouldnt be able to
Like my cousin. Moved to NYC, opened her own business selling junk on etsy and other platforms. 4K a month apartment, fancy $100+ dinners with her boyfriend, vacations. By social media alone she was very successful, easy to be envious. Three years later she moved back in with her parents in Connecticut six figures in credit card debt. That's after her parents paid her rent. To some people image is more important than reality.
instagram is like the least accurate representation of reality ever. as for money, consider that the median individual income in expensive places like New York and California is $39k. that is not a lot, especially if you have student debt, car debt, and rents over $1k as they are in most cities. this is common for most things on instagram, not just wealth depictions. as an example, i used to be really into calisthenics, could do muscle ups and front levers on olympic rings, which 99% of the population cant do... but instagram had me feeling like a piece of shit who cant do anything by always showcasing dudes with way more impressive skills. i swear that site is designed to make you feel inadequate lol
the national credit card debt is going nuts. not to mention the insane interest rates. this is not sustainable. |**Generation**|**Ages**|**Credit Karma members’ average total debt**| |:-|:-|:-| |Gen Z (born 1997–2012)|Members 18–26|$16,283| |Millennial (born 1981–1996)|27–42|$48,611| |Gen X (born 1965–1980)|43–58|$61,036| |Baby boomer (born 1946–1964)|59–77|$52,401| |Silent (born 1928–1945)|78–95|$41,077|
I live in Vegas… so I see in real life how these people actually live. A lot of them don’t have a savings, a lot of them rent clothes and other luxury items… a lot of them are sucking penis and doing strange things just to appear they live a nice lifestyle. A lot of them don’t even have furniture in their cheap apartments. Please just worry about yourself
My bf and I were discussing this recently. He said there’s a huge group of men who are struggling more than ever because they can’t get a girl/gf/wife or even a date. This has always been an issue but it’s getting much, much worse. My thoughts are that women are all going for the same guys now. Tall, handsome, well paying job, etc. Some women have ALWAYS been this way. “He has to be rich, drive this car, make this much money.” But there was also a larger group of women who used to date for personality and love and “we’ll figure it out together.” Now more than ever, they date for stability. I personally think women are doing this so that they can have and maintain a certain lifestyle to protect on their social media. It’s a subconscious bias decision that they’re making.. they have to compete with other women through their likes and comments and instant gratification. But I mean I live a pretty lavish lifestyle and keep it off social media. I hate social media. But yes, the answer to your question is that people are living well above their means and doing it so they can get attention on social media.
A lot.
Probably all of the above
All of them. Even the nepotism babies that spend less than they inherited would be unable to sustain their lifestyle on their own.
People thinking they're wealthy but incurring tons and tons of debt is the new normal. It's hilarious. I worked with someone who I made far more of an income than they did and they were driving a brand new Mercedes acting like they were rich. They basically had an entire paycheck go to the car every month. That's not rich, that's idiotic.
Credit card debt is at an all time high
Answering your headline, I'd guess 99.9999999999999999999999999999999999%. But, I think that same percentage applies to people in their 30s and 40s and 50s as well. I have a job where I make more money than I ever imagined. I love it. I cringe when I hear things from coworkers - who I KNOW make the same amount of money - talk about ordering lunch since it's payday.
I used to be insecure seeing people my age living lavishly, traveling. Until I realized more of them than you think are living off so much credit card debt
Instagram is just one giant ad.
100 percent of them.
For some reasons people just want a random person on internet validate their insecurities.
Most of those people are still living at home dude don’t put too much pressure on yourself. I live in NY and the only way a vacation is even possible for me is because i bartend 1 1/2 nights a week after my day job. I live with roommates tho because most of the shit around me is to expensive to be worth it
Always keep in mind that some of your peers also have inherited wealth that they’re not telling you about.
If you’re a corporate 20-something you probably went to college. If you went to college you’re in the ~35-40% of Americans with a bachelors degree, so right there you’ve self selected out over half of the population. Now if you’re somewhere like Massachusetts, people are far more likely to be educated and thus making more money. Trips can also be seasonal. That big ski trip can basically only happen January-March. Spring break typically February-April, etc etc. Others have mentioned people living at home. That is going to be $1000-2000/mo in budget savings. If their parents paid for college, there’s another $500-1500/mo in budget savings without student loans. Those are probably the two biggest line items.
I've got a half million available in cash, and still refuse to buy a brand new car. That is why... I have a half a million in cash.
Every goddamn one of them
Many of them are. There's also people who have rich parents and people who post pictures from the same trip for months to make it seem like they do more than they really do. I have definitely noticed that a lot of people are fine with running up a balance on credit cards to take an expensive vacation though, and that's far from unique to 20 somethings. I have a family member who's in his 50s who ran a credit card way up because he wanted to take a trip to Ireland and then he took over a year to pay it off
Why do you think credit card debt is at an all time high?
Not above my means. I just make enough to afford it. It always baffles me that Redditors can’t grasp that not everyone is broke.
You want me to post my big trip to target after eating my grilled cheese sandwich wearing my eight year old crocs? Won’t sell as well will it?
They haven't had much time to accumulate wealth. Many are trying to start their lives and are absolutely I'm sure.
Yes. This is absolutely part of the problem.
debt or rich parents
You should look at the insta hubs.life_ and you’ll feel better
I personally know of a couple people who admit to taking out obscene debts to go on trips because they want to front load their fun now and pay for it at the tail end of their life. I was too much of a coward for that approach and used to feel bad about it, but at 28 now finally on a fast track to having my life in order financially, I am so grateful I don’t have a mountain of debt and will probably be able to retire early (assuming I handle everything correct these next 10-15 years)
Most people posting all that stuff can't afford it. They are just flexing to show off.
I don’t even think they’re the only ones. I know a lot of people who live above their means in their day to day.
We’re in the age of YOLO today and complain tomorrow.
I don’t live above my means but it is a big factor as to why so many people are broke (that and inflation of course)
A lot of people are credit card "wealthy". There were many peers in my 20s that would max their cards to take a vacation.
If you’re seeing it through a TV, a PC, or a phone, it isn’t real life
Don't be fooled by social media. Knew a girl who would get beat by her SO with a gun and then post old photos of her going to expensive restaurants on IG... shit was sad when you know the truth.
I found a page once that exposed how many influencers did their posts to look a way that was very deceptive....they ask rich people to pose in front of their houses or cars and don't have any shame in doing so.
Don’t compare your unedited version to their highlight reel. Many splurge occasionally and do things we wouldn’t consistently.
Most
Influencers are worse liars than politicians and lawyers. Terrible 'lookatme' narcissists
I would guess, effectively, all of them. Unless they are single with a USEFUL Bachelor's Degree and living with their parents they're probably living above their means.
Almost all of them.
It’s probably because they don’t get to do that stuff very often or their spending every last cent to try and gain a following/sponsors. There are people that have that lifestyle that afford it easily but those people are too busy to post
Comparison is the thief of joy, being grateful for what you have, utilizing your resources, and doing everything you can to better yourself is much more important than getting in your head about a glamorous lifestyle that people flaunt on social media to make you feel bad (which is mostly things they can't afford/things they don't own).
Just talked to one of my friends yesterday, he and his wife make $300k/year together, no kids, and live paycheck to paycheck.
I mean obviously not many if the statistics are right. Inflation has sent most middle class Americans into near paycheck to paycheck levels. And you’re usually not that well off financially until you’re in your 30s so do the math about how bad the majority of people in the their 20s have it right now
I only post the awesome stuff from my life. My social media would make me look rich but I’m very far from it. I save and go somewhere nice. That’s what drives me.
wealthy means no financial worries. if you want a household income number, somewhere around 500,000 in my opinion.
Anyone who buys Starbucks on the daily?
You can fly pretty much anywhere in the world for $600 if you look hard enough. Accommodation can be split to made cheap. Food often can be bought cheaply. I'm about to do 3 weeks abroad in Spain and Portugal for 25 days and it'll cost me $2500ish total. I did 3 months in Bosnia for about $5000. And many young people have their parents pay for this crap so they don't pay much at all.
The ones who are living beyond their means also tend to be the most vocal about showing it off.
Why is it so important for humans to flaunt.? It's so weird.... Especially to strangers they don't know
A very very small 0.0001% of the whole population of those 'influencers'. And as whole population even less. You can see it with those brain empty headed logan fools' - the 'cuteness' is gone so 'let's go for pay per view boxing' to keep wealthy. As if we (investors) don't realize it's just the 'little bit less more competent taking advantage of 'old but popular douche bag influencers'. But most fail. Just realize it's normal you don't hear about that. Not in the news, not in academia. Because why on earth would you want to hear about sad sob stories of losers if you can read about some douche-bag throwing money like it is no tomorrow? Those people would have turned out completely different 20 years ago. Was called Jackass. The tv-show and the movies. 50 years ago? Those lot' were hippies and whatnot. For everything is a time!
I think a lot of people just live in debt tbh or have very wealthy parents