Author Topic: It's Facebook's fault you're poor!  (Read 13853 times)

seanc0x0

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It's Facebook's fault you're poor!
« on: November 07, 2014, 07:44:29 AM »
Saw this one during my morning net perusal: http://www.canoe.ca/Canoe/Money/News/2014/11/07/22057421.html

"Having money troubles? Blame Facebook" -- yea, no.

seanc0x0

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Re: It's Facebook's fault you're poor!
« Reply #1 on: November 07, 2014, 07:48:19 AM »
I should add that I actually agree with some of the things the article mentions. Facebook does tend to make you feel inadequate when you compare all the cool stuff other people have/do. The big thing is to learn not to succumb to the pressure.

I really liked the line "Nobody's posting pictures at 5 a.m., dragging their butt off to work."

slugline

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Re: It's Facebook's fault you're poor!
« Reply #2 on: November 07, 2014, 07:49:59 AM »
"Blame Facebook" is going a bit far, but there is a valuable message there about the effects of where you hang out online.

Surely I'm not the only one who feels more validated about their money choices after visiting this site, right?

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #3 on: November 07, 2014, 10:28:46 AM »
I wish my friends would post more cool shit that they do. I have one friend who's been backpacking around Europe for the last couple months and he posts cool photos of the places he goes, but otherwise it's a litany of baby photos, memes, and people complaining about their relationships.

MgoSam

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Re: It's Facebook's fault you're poor!
« Reply #4 on: November 07, 2014, 10:57:50 AM »
Yeah,

FB can damage one's ego, I know a few people that dread looking at it on Monday because they will see pictures of people doing things that they weren't invited to, which can make them feel bad. Or it can show people eating at fancypant places which might encourage other people to do the same.

This said, personal responsibility is still preciously that, personal.

RFAAOATB

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Re: It's Facebook's fault you're poor!
« Reply #5 on: November 07, 2014, 11:53:55 AM »
I might start posting Facebook screenshots of my ROTH IRA every time the market goes up in response to all these posts.

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #6 on: November 07, 2014, 12:19:04 PM »
I post pictures of my net worth in cookies when I hit milestones. I don't say it's net worth, just post the cookies.

seanc0x0

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Re: It's Facebook's fault you're poor!
« Reply #7 on: November 07, 2014, 12:22:46 PM »
I post pictures of my net worth in cookies when I hit milestones. I don't say it's net worth, just post the cookies.

That's an interesting idea, but what denomination are the cookies?

(now that's something I never thought I'd say...)

DeepEllumStache

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Re: It's Facebook's fault you're poor!
« Reply #8 on: November 07, 2014, 12:23:01 PM »
I post pictures of my net worth in cookies when I hit milestones. I don't say it's net worth, just post the cookies.

That's awesome.  Is anyone on your feed in on the pictures or do people just think you have a love of baking?

RFAAOATB

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Re: It's Facebook's fault you're poor!
« Reply #9 on: November 07, 2014, 12:24:50 PM »
Facebook is not for subtlety.

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #10 on: November 07, 2014, 12:31:26 PM »
I cleverly intersperse pictures like these chocolate chip cookies



and these peanut butter cookies

 

with pictures like these ninja maple cookies



and these hand and foot biscuits



So clever and subtle, right? Right?

DeepEllumStache

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Re: It's Facebook's fault you're poor!
« Reply #11 on: November 07, 2014, 12:34:18 PM »
That's awesome.  Beyond awesome.

gimp

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Re: It's Facebook's fault you're poor!
« Reply #12 on: November 07, 2014, 12:44:17 PM »
That is clever and subtle and I love it.

seanc0x0

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Re: It's Facebook's fault you're poor!
« Reply #13 on: November 07, 2014, 01:18:59 PM »
Love it Zikoris!  I'm totally stealing that idea. Getting awful close to 10k in the FI fund, better go buy some chocolate chips :)

EastCoastMike

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Re: It's Facebook's fault you're poor!
« Reply #14 on: November 07, 2014, 01:47:59 PM »
One day I may have enough friends to justify using facebook...

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #15 on: November 07, 2014, 09:19:36 PM »
For what it's worth, I think there's real value in having a trimmed down Facebook friends list where you only see posts from people you actually care about and have a relationship with. Keeps things much more real if you actually know what's going on in everybody's life outside of Facebook. I have 65 facebook friends and every one of them is either:

1. Related to me
2. Someone I have a current, real life relationship with
3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.

lemanfan

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Re: It's Facebook's fault you're poor!
« Reply #16 on: November 08, 2014, 01:12:33 AM »
I should add that I actually agree with some of the things the article mentions. Facebook does tend to make you feel inadequate when you compare all the cool stuff other people have/do. The big thing is to learn not to succumb to the pressure.

I really liked the line "Nobody's posting pictures at 5 a.m., dragging their butt off to work."

If you compare other peoples highligts in life with your own everyday toil and grit, I'm sure you're not comparing quite fairly. :)

amyable

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Re: It's Facebook's fault you're poor!
« Reply #17 on: November 08, 2014, 06:16:57 AM »
1. Related to me
2. Someone I have a current, real life relationship with
3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.

This exactly describes my friends list.  I might add, 4. People I had a great relationship with that's only really waned because of geographical distance.  I still love seeing old friends kids, weddings, etc.

iris lily

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Re: It's Facebook's fault you're poor!
« Reply #18 on: November 08, 2014, 10:05:43 AM »
I am old and Facebook exerts no pressure on me. I will say that my circle of influence is strong from online chat sites, just not from Facebook.

I'm just now reading a book recommended on this site The Defining Decade: Why Your Twenties Matter and How to Make to Most of Them by Meg Jay, and she talks about the severe pressure that Facebook posts exerts on the 20 Somethings. They look at all of those posts as evidence that others are doing better than they themselves are doing.

I am very much enjoying this book and will likely post about it later.

« Last Edit: November 08, 2014, 10:14:12 AM by iris lily »

seanc0x0

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Re: It's Facebook's fault you're poor!
« Reply #19 on: November 08, 2014, 10:09:40 AM »
I should add that I actually agree with some of the things the article mentions. Facebook does tend to make you feel inadequate when you compare all the cool stuff other people have/do. The big thing is to learn not to succumb to the pressure.

I really liked the line "Nobody's posting pictures at 5 a.m., dragging their butt off to work."

If you compare other peoples highligts in life with your own everyday toil and grit, I'm sure you're not comparing quite fairly. :)

I saw a version of that quote this morning posted by my old office manager on Facebook. I really like it, since it describes exactly what the problem is.

iris lily

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Re: It's Facebook's fault you're poor!
« Reply #20 on: November 08, 2014, 10:13:21 AM »
Quote
...3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.

I have Blogger sites bookmarked for hatereading. A major sub category of hatereading is WTF reading for the "batshit crazy" who entertain us.

I just do not like Facebook because the entries are too brief. The  truly crazy cannot get steam built up in Facebook entries to reveal the crazy  True nut jobs need blog software to support long winded naval gazing "sharing" in the written word with some photos thrown in. Facebook doesn't cut it.

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #21 on: November 08, 2014, 12:03:18 PM »
I am old and Facebook exerts no pressure on me. I will say that my circle of influence is strong from online chat sites, just not from Facebook.

I'm just now reading a book recommended on this site The Defining Decade: Why Your Twenties Matter and How to Make to Most of Them by Meg Jay, and she talks about the severe pressure that Facebook posts exerts on the 20 Somethings. They look at all of those posts as evidence that others are doing better than they themselves are doing.

I am very much enjoying this book and will likely post about it later.

It's just weird to me - I have the complete opposite experience of Facebook. I love it because t's a great way to stay in touch with people and share funny pictures, but man, the people in my age bracket don't seem to be doing very well at life - pictures of a fancy dinner out, followed by posts about the crappy McJob they just started or left or how they'll never be able to retire or move out of their parents place. Very rarely someone will post some cool travel photos, but nine times out of ten I know they can't afford it and will be paying for it for a looong time.

I think for Mustachians Facebook is way more of an ego booster than anything.

imustachemystash

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Re: It's Facebook's fault you're poor!
« Reply #22 on: November 08, 2014, 04:07:44 PM »
I use FB probably more than I should and lately all my friends in their late 30's have started buying bigger and more expensive houses.  I really need to stop going there and hang out here more instead!

Elderwood17

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Re: It's Facebook's fault you're poor!
« Reply #23 on: November 08, 2014, 08:13:28 PM »
I use FB probably more than I should and lately all my friends in their late 30's have started buying bigger and more expensive houses.  I really need to stop going there and hang out here more instead!
Yes, hanging out here is definitely good for the bottom line on your net worth statement!

fartface

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Re: It's Facebook's fault you're poor!
« Reply #24 on: November 09, 2014, 05:42:31 PM »
I use FB probably more than I should and lately all my friends in their late 30's have started buying bigger and more expensive houses.  I really need to stop going there and hang out here more instead!

WTF!

(Welcome to Forum:)

resy

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Re: It's Facebook's fault you're poor!
« Reply #25 on: November 09, 2014, 11:08:00 PM »
For what it's worth, I think there's real value in having a trimmed down Facebook friends list where you only see posts from people you actually care about and have a relationship with. Keeps things much more real if you actually know what's going on in everybody's life outside of Facebook. I have 65 facebook friends and every one of them is either:

1. Related to me
2. Someone I have a current, real life relationship with
3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.
ha! We have the same friend list guide lines except I also have:
4. So batshit crazy that although you've lost touch in real life you dont delete because a)they will re-request you and ask for an explanation of what is going in with the "friendship" or b)will take it so personal they will retaliate.

Huh. Seeing that written made me realize I know one or two really batshit crazies. Lol

odput

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Re: It's Facebook's fault you're poor!
« Reply #26 on: November 10, 2014, 07:21:28 AM »
This reminds me of a great explanation of facebook:

http://waitbutwhy.com/2013/09/why-generation-y-yuppies-are-unhappy.html?doing_wp_cron=1415619135.2552819252014160156250

It's a bit of a long read, but ultimately describing this same phenomenon in a much more humorous setting

While there is some reasonably good stuff in there, some of the article is just disturbing:

Quote from: article
Campbell's advice for beating the trend includes tracking expenses and visualizing goals — for example, a photo of a new car on your fridge — to stay on track.

This seems like one of those good intentions the road to (financial) hell are paved with...

Sibley

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Re: It's Facebook's fault you're poor!
« Reply #27 on: February 11, 2015, 02:29:27 PM »
For what it's worth, I think there's real value in having a trimmed down Facebook friends list where you only see posts from people you actually care about and have a relationship with. Keeps things much more real if you actually know what's going on in everybody's life outside of Facebook. I have 65 facebook friends and every one of them is either:

1. Related to me
2. Someone I have a current, real life relationship with
3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.

I'm around 75 FB friends, but that's exactly my categories. The best (or worst) ones are the overlapping #1 and #3. I have a couple of those.

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #28 on: February 11, 2015, 03:02:52 PM »
For what it's worth, I think there's real value in having a trimmed down Facebook friends list where you only see posts from people you actually care about and have a relationship with. Keeps things much more real if you actually know what's going on in everybody's life outside of Facebook. I have 65 facebook friends and every one of them is either:

1. Related to me
2. Someone I have a current, real life relationship with
3. Neither of the above, but so batshit crazy that the entertainment value of their posts means I need to keep them there.

I'm around 75 FB friends, but that's exactly my categories. The best (or worst) ones are the overlapping #1 and #3. I have a couple of those.

Looking through my friends list, I seem to have one more category now: Artistic types who post their lovely art pieces up. Photography, painting, etc. I really like that stuff.

Pooperman

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Re: It's Facebook's fault you're poor!
« Reply #29 on: February 12, 2015, 05:27:57 AM »
Fiancé and I share a Facebook. She's got the first name spot, I've got the last name spot. Considering our gigantic families, we've got well over 100 relations and then friends on top of that. I have to say, most of the 200 or so people we've got don't do anything antimustachian. They are generally pointing out injustices (gender, race, creed, etc), laughing as dumb shit on the news, being political, or sharing kid pictures. I only use Facebook to chat with a fire friends. Fiancé uses it for pictures and other Facebooky things. 200 fairly normal somewhat-mustachians occupy our Facebook.

Adventine

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Re: It's Facebook's fault you're poor!
« Reply #30 on: February 12, 2015, 05:40:28 AM »
Fiancé and I share a Facebook. She's got the first name spot, I've got the last name spot. Considering our gigantic families, we've got well over 100 relations and then friends on top of that. I have to say, most of the 200 or so people we've got don't do anything antimustachian. They are generally pointing out injustices (gender, race, creed, etc), laughing as dumb shit on the news, being political, or sharing kid pictures. I only use Facebook to chat with a fire friends. Fiancé uses it for pictures and other Facebooky things. 200 fairly normal somewhat-mustachians occupy our Facebook.

Can you please explain the thinking behind having a single Facebook account for two people? I've always found it rather odd.

Pooperman

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Re: It's Facebook's fault you're poor!
« Reply #31 on: February 12, 2015, 05:57:15 AM »
Fiancé and I share a Facebook. She's got the first name spot, I've got the last name spot. Considering our gigantic families, we've got well over 100 relations and then friends on top of that. I have to say, most of the 200 or so people we've got don't do anything antimustachian. They are generally pointing out injustices (gender, race, creed, etc), laughing as dumb shit on the news, being political, or sharing kid pictures. I only use Facebook to chat with a fire friends. Fiancé uses it for pictures and other Facebooky things. 200 fairly normal somewhat-mustachians occupy our Facebook.

Can you please explain the thinking behind having a single Facebook account for two people? I've always found it rather odd.

I barely use it (really as a glorified chat program). She likes to post pictures of us, stuff we cook, etc. I just piggyback since my facebook would consist of, well, nothing (I wouldn't have one and don't care to maintain one).

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Re: It's Facebook's fault you're poor!
« Reply #32 on: February 12, 2015, 10:14:21 AM »
I am old and Facebook exerts no pressure on me. I will say that my circle of influence is strong from online chat sites, just not from Facebook.

I'm just now reading a book recommended on this site The Defining Decade: Why Your Twenties Matter and How to Make to Most of Them by Meg Jay, and she talks about the severe pressure that Facebook posts exerts on the 20 Somethings. They look at all of those posts as evidence that others are doing better than they themselves are doing.

I am very much enjoying this book and will likely post about it later.
I pretty much wasted my twenties both personally and professionally, and was a broke, depressed loser at 31.
Through a combination of good luck and... well, mostly that... I started turning for the better in the next year. Now I'm happily married at 36 with a fast-sprouting Stash and near quitting the feds to do shit I love. How do I fit into this paradigm? ;)

LucyBIT

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Re: It's Facebook's fault you're poor!
« Reply #33 on: February 12, 2015, 12:34:15 PM »
I'm 30 and don't spend much time on Facebook. I attribute it to burn-out, because I've had one for so freaking long that I'm bored of it. I got mine when you still had to be a college student and not every college was in the thing. Not that this makes me special or anything, just to illustrate how long it's been.

When I am on, I mostly just read, I don't post that much. And these days I do find it mostly ego-boosting :D

partgypsy

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Re: It's Facebook's fault you're poor!
« Reply #34 on: February 12, 2015, 12:42:05 PM »
Ugh. Reading this made me realize while I don't think I am that susceptible to peer pressure, I am in one way. Looking at Facebook, seeing couples my husband and I know sharing pics from big trips to other countries, knowing we have been married for longer and not going on said trips. I would still want to go on such trips regardless, but I would not be so aware of my "lack" if not for Facebook.  That's why I sometimes take a break from it. 

arebelspy

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Re: It's Facebook's fault you're poor!
« Reply #35 on: February 12, 2015, 01:54:02 PM »
People need to be aware of the psychological things related to money that keeping up with the Joneses, jealousy, etc. can cause, and learn to avoid that type of thinking.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Zikoris

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Re: It's Facebook's fault you're poor!
« Reply #36 on: February 12, 2015, 02:16:56 PM »
Ugh. Reading this made me realize while I don't think I am that susceptible to peer pressure, I am in one way. Looking at Facebook, seeing couples my husband and I know sharing pics from big trips to other countries, knowing we have been married for longer and not going on said trips. I would still want to go on such trips regardless, but I would not be so aware of my "lack" if not for Facebook.  That's why I sometimes take a break from it.

If travel is important to you, why not allow a budget for that? Many of us here travel, some frequently, and it doesn't need to be ridiculously expensive.

MrsPete

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Re: It's Facebook's fault you're poor!
« Reply #37 on: February 13, 2015, 06:45:47 PM »
I read something earlier today that really made sense to me -- not about FaceBook in particular, but about social media in general.  This is my own summary:

Before social media was "a thing", people felt the need to "keep up with the Joneses", but it was different.  The Joneses were people who lived down the street, and -- yeah -- they DID HAVE the nicest house, a beach house, and a sports car -- but YOU KNEW THEM PERSONALLY, and you were aware that they had some warts:  You KNEW that they fought about money and their oldest kid had a drinking problem. 

In contrast, today we "see" people's lives on the internet, and because they only show us slivers of those lives -- only the things that are going well for them -- it's easy for us to get the idea that their lives are perfect.  Because we don't know these people personally, we can't see those warts.  Yet we seem to THINK that we're seeing the whole picture.

To add fuel to the fire, we get this perfect sliver-glimpse into MANY people's lives -- this one's vacations, that one's fantastic job, the other one's perfect children -- and we get the idea that we're the only people living ordinary lives.  We get the idea that ALL these people are living perfect lives, and we are mediocre in comparison. 



Gin1984

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Re: It's Facebook's fault you're poor!
« Reply #38 on: February 13, 2015, 07:49:28 PM »
"Blame Facebook" is going a bit far, but there is a valuable message there about the effects of where you hang out online.

Surely I'm not the only one who feels more validated about their money choices after visiting this site, right?
I have to admit my goal before I found this site was 20% in tax advantage accounts and 5% in taxable.  Now it is save 50% of gross.

arebelspy

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Re: It's Facebook's fault you're poor!
« Reply #39 on: February 14, 2015, 11:38:46 AM »
"Blame Facebook" is going a bit far, but there is a valuable message there about the effects of where you hang out online.

Surely I'm not the only one who feels more validated about their money choices after visiting this site, right?
I have to admit my goal before I found this site was 20% in tax advantage accounts and 5% in taxable.  Now it is save 50% of gross.

Sounds like you need to discover ERE and bump that goal to 90%.  ;)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.