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7 Ways a Social Media Detox Can Improve Your Finances Thumbnail

7 Ways a Social Media Detox Can Improve Your Finances

The average person spends approximately 147 minutes a day on social media according to Statista. Imagine getting over 2 hours back in your day, even if it’s just occasionally. It’s not a surprise that the amount of time spent on social media can significantly impact our mental health, our relationships, and even our finances. 

 First things first . . . what is a social media detox? It’s essentially an intentional removal of social media from your day-to-day activities for a specific period. It can look different for everyone. It could be a detox for the weekend, during certain hours of the day, or perhaps while you’re on vacation.

 You’re probably wondering how a social media detox could improve your finances. Here are 7 ways spending less time scrolling social media can help your bottom line.

  1. Exposure to digital marketing is limited.  Are social media apps listening?  We’ve all been fascinated and terrified after having a conversation with someone and then seeing a digital pop-up ad that relates. If you aren’t exposed to the ads, then you’re less likely to buy.
  2. Impulse spending is reduced. We all know how easy it is to click on sponsored ads and buy those items that are specifically targeted to our buying preferences, especially when our credit card information is saved. Less scrolling = less spending.
  3. Reduces comparison and FOMO (fear of missing out). Social media is the highlight reel of life. We see things others have and activities they are doing which can make us feel a sense of lack in our own life. Reducing your exposure to other’s shopping and lifestyle habits will help you gain perspective and celebrate the amazing things in your own life.
  4. Priority reset. Taking a break from social media can help you refocus your priorities in life. This space might help you revive hobbies or activities that you love, and you can adjust your budget accordingly.
  5. Protect your privacy. According to the Federal Trade Commission, identity theft is on the rise. The less prevalent your social media presence is, the less likely you are to fall prey to a scam. Be sure to check your privacy settings on each social media app to restrict your public information. 
  6. Increase your productivity and income. The more time we spend on social media, the less time we have to focus on growing a business, performing well at our job, or other activities that could boost our income-earning opportunities.
  7. Benefits your mental health. This one might be the most important of all. There are multiple studies that show excessive use of social media can affect our mental health.  Being in a positive mindset helps us make better decisions overall, but especially financially. 

 Social media is a big part of our lives. It can be beneficial for things like keeping in touch with friends and family, but there is also a downside like mindlessly scrolling. Stepping away from social media temporarily can help eliminate many temptations, reduce impulse spending, and create more time to focus on your personal goals.