How Does Social Media Affect Financial Decisions?

Social Media Affects Financial Decisions

Social media influences society in an assortment of ways. Within the past decade, related platforms have swayed elections, outed celebrities’ poor behavior, and controlled much of the public discourse. It even has a significant impact on people’s moods.

Therefore, it’s no surprise that social media also affects many US citizens’ financial decisions. But how much clout do Facebook, Twitter, Instagram, Snapchat, and all other platforms carry regarding money?

This blog will examine social media and its sway over financial decisions:

Social Media’s Financial Influence is Generational

In 2021, consumers gather financial product information from places such as Facebook. They might double down with a blog to inform themselves more.

However, the stats skew toward proceeding with caution with regards to trusting sources. Only 23% of surveyed consumers are very confident that social media information about financial products is accurate and reliable.

Furthermore, consumers only click on social media financial product advertisements 15% of the time. This number pales compared to the 34% of the timepeople click on ads for other items.

It does appear that older consumers are responsible for swaying these percentages. Millennial – and younger – consumers have far more confidence in the financial information they access on social media. They’re also likelier to click on advertisements for relevant institutions.

This difference between generations probably results from familiarity and comfort with technology. It also likely results from more eagerness to learn about what’s out there in the world of finance.

People Are Spending More Recklessly Because of Social Media

Financial decisions aren’t solely based on products from a bank, an accountant, or overall investing decisions. Finances are involved whenever somebody spends money.

In that vein, social media brings with it some negatives. Namely, 35% of respondents to one survey claimed to spend more money than they could afford to share experiences with friends. Moreover, these decisions were directly influenced by what they saw on social media.

In bringing this blog back to the generational theme, younger people were more impacted by the above problem. 48% of Millennials and 41% of Gen Z fell victim to overspending because of social media’s somewhat nefarious influence.

People must keep in mind the social media often paints a very one-sided picture of people. Sure, your friends could be vacationing in Spain—but they might be maxing out their credit card to do so. Or they’re neglecting their retirement savings.

Social Media’s Impact on Your Finances Depends on How You Use It:

Social media is a double-edged sword for finances. Provided you allow it to influence overspending because you want to fit in with your friends, it will turn into a negative by accumulating credit card debt.

Conversely, social media brings with it the following financial advantages (if you do your research):

  • Find better deals on products you need
  • Receive discounts from your preferred stores
  • Market a crowdfunding campaign
  • Learn about DIY ideas instead of spending on a service
  • Perform product research to make purchases that bring you value

It’s through the above methods that social media can become a positive force for your financial future.

6 Money Habits for a Richer 2021

Money Habits

It’s the New Year, and for many, a time to reflect and set new goals. According to a recent survey on spending habits, “63% of respondents lived paycheck to paycheck in 2020.” Developing effective money habits are crucial for a healthier, wealthier future and something anyone can achieve with discipline and practice. Below are our top six money habits that will set you on a path to financial health in 2021. 

Identify Your “Why”

Before you do anything else, carve out time to identify why you want better money habits. Do you need to get out of credit card debt? Are you hoping to retire early? Do you want to provide a better future for your kids? Travel the world? Your why will be that little voice keeping you on track when you want to stray from your goals. 

Track Your Spending

This is a must-do if you hope to have better spending habits. Find a time every month, week, or even day to go over your spending in relation to the money coming in. Create separate categories for different kinds of expenses. You will likely have a fixed category for expenses that do not change like your mortgage or car payment. Develop other categories for expenses such as going out to eat, entertainment, and shopping. You might be shocked at how much you are spending in some categories!

Set a Budget

Now that you understand your spending patterns, set a budget for each of your categories. Paying in cash or with a debit card is much easier to track and keeps you from the constant debt cycle that comes with using a credit card. Keep your budget accessible so you can refer to it when you need to. Mint is a great app for keeping track of your budget. 

Create Small, Achievable Goals

Instead of making one goal for the entire year that might be abandoned 6-months in, make a 90-day goal with clear directions on how to achieve it. Some examples could be paying down a specific debt, saving a certain amount of money, or any other tangible goal that aligns with your “why.” By creating a deadline, you are holding yourself accountable and breaking down what may feel like a large, daunting task into bite-size pieces. Your goals may change throughout the year, so re-evaluate them every 90 days. 

Pay Yourself First

This piece of advice, made famous by Robert Kiyosaki’s famous work, “Rich Dad, Poor Dad,” feels counterintuitive but is a life-changing habit to adopt. Each time you get paid, put a percentage of that money in savings first before anything else. While challenging at first, you’ll be amazed at how your spending adapts over time. You may also surprise yourself with how much you saved over the year!

Learn About Money

Lastly, healthy money habits are a continuous learning process. Read a book, attend a seminar, surround yourself with financially savvy people. Invest in your financial education and you will see results. 

Ways to Stay Busy During Quarantine

The phrase “we are all in this together” is one being used often during this quarantine. The reason is because everyone is at home. No one is excluded, everyone is affected. One of the major hurdles people are facing during this time is staying busy and finding ways to occupy their time at home. Below is a list I compiled to help you come up with some ideas. Do what is best for you and what works for your situation.


Even though people can’t physically go to a gym, which is where people typically exercise, they are finding creative ways to work out. Working out is not only good for you physically but also has many mental benefits that are beneficial during this stressful time. Many gyms are offering online classes or video streaming. If you aren’t a member of a gym, you can also get a workout by searching through youtube. There are plenty of options available for free. As long as you  have a computer or smart tv to stream from then you are good to go. Besides structured classes you can also get exercise by utilizing the outdoors. Running or walking can be instrumental to keeping in shape and keeping your mind clear.

The Outdoors

Since the weather has turned, it seems that getting outside for some fresh air is best for everyone. Not only is it good from the virus standpoint (less germs brewing) but also the possibility of activities. Hiking, Biking, Fishing, and various sports can all be done when the weather is nice. Just getting outside for a nice walk can be great. When I drive around I am seeing so many families out on a walk or bike ride together. It gets them out of the house and for fresh air. A lot of outdoor venues/parks/trails have opened as well. This allows you to change things up.


Family game night has been more popular than ever! It allows you to use your brain and spend some quality time with one another. If you are tired of the ones you already have at home, you can swap with other families to change things up. Not only physical games are fun, but also virtual. You can do online gaming, video games or even online sports betting. You can do this anytime and anywhere.


As previously mentioned, now is a great time to be creative and get your creative juices flowing. You may have the time to do projects that you have waited to do or make. You may also have children who have all of the boxed supplies and sets that have been unused. Now is the perfect time to break them out. 


Now is a great time to catch up on your reading. Weather you are interested in learning something new or reading the latest best seller, there is no better time. You literally have all the time in the world with nowhere to be. Especially with electronic books it makes all books accessible. 


Binge watching television is popular amongst those staying at home. It is safe and you don’t have to feel bad about staying home and being lazy by sitting on the couch. Watch the movie you always wanted to see or catch up on the latest tv series that everyone is talking about on social media. Now is your time to keep up with the joneses. 

Obviously we need to thank all of the essential workers who continue to be out and helping others so the world can still function. They may not have the luxury of being home as much and having the free time to spare. Hopefully this list gives you some good ideas to pass the time if you are home during quarantine.

Six Basic Tips on Writing a Financial Analysis Paper

Why do students learn to write a financial analysis paper? This assignment helps students improve their knowledge about the structure of every company. If they decide to found their own firm, they should know how to manage its financial health. This knowledge is vital for investors too. If they analyze the financial condition of the specific company correctly, they will be able to invest in this company without any negative consequences. If you devote your money to a venture, you should know whether it is safe and reliable. A professional financial analysis is able to display the actual financial condition of the particular company. If you want to learn how to complete a factual financial analysis paper, dwell on these basic writing tips.

Tip #1: Analyze the Existing Financial Statements

The foremost duty of everyone who wants to cope with a detailed financial analysis is to obtain financial statements. If you analyze a specific company suggested by the teacher, you can find its financial statements in the Internet or in the definite books on business and accounting. If you are ambitious to research a completely different firm, you can receive these documents directly from its owner. Of course, this job is often complicated. Nevertheless, if you have had your practice at the chosen company, you can receive at least several financial statements devoted to the certain period in the past. There is hardly a boss who will supply you with the relevant information of this kind. Bear in mind that a financial statement is a complex document that embraces numerous minor documents, like a balance sheet, an income statement, an equity statement and a cash flow statement. You will have to look through and analyze every document in order to complete a full financial analysis paper

Tip #2: Look over a Balance Sheet

A balance sheet is the document that demonstrates the balance between such elements as assets, liabilities and owner’s equity. This balance is paramount for the objective survey of the specific firm. You should know about its assets and debts. Moreover, you ought to examine the shareholder equity. It is smart to pay attention to any shifts in this balance in order to find the weak sides of the company. It is a bad signal when a company loses its assets and increases its debt without any objective reasons.

Tip #3: Inspect an Income Statement

This statement shows the income and loss of a company’s capital. A common successful company has a tendency of the gradual increase of its income indicator. When you notice the reduction of the firm’s revenue, it means that it is close to crisis and bankruptcy. Such firms are unreliable and require reorganization and alteration of their business strategy.

Tip #4: Observe a Statement of Changes in Equity

This statement concentrates on the analysis of the changes that have occurred within the shareholder’s equity. It is vital to know whether a company purchases new stocks or not. It can illustrate its future plans for the further development. The owner’s equity can be measured in the easiest way. You ought to subtract the liabilities from the assets. If the sum of the equity is gradually reducing, it is a bad sign for the financial health of the specific firm.

Tip #5: Study a Cash Flow Statement

A cash flow statement resembles an income statement. However, there is a slight difference between these documents. A cash flow statement can be more useful for the objective and scrupulous survey of a company’s financial condition. This statement contains the precise facts concerning the sum of the money a company actually possesses. Furthermore, it demonstrates all expenses and profits. It shows the sources of cash flow. You can learn about the ways a company receives its profit. A cash flow statement is one of the documents that can prove the guilt of a cheating and unfair entrepreneur.

Tip #6: Calculate a Company’s Ratio and Competitiveness

When you want to capture the actual financial condition of a peculiar firm, you ought to calculate its financial ratio analyzing all financial statements and their components. You can compare the results with the ratios of other companies of the same sector on the market. If the ratio increases, it means that a company copes with the obstacles and accumulates cash. If a company possesses a reducing ratio, its competitiveness on the market falls down. Bear in mind that you cannot compare two companies if you do not conduct financial analysis papers for both of them. Thus, students do not need to compare ratios and performance of several companies. They just need to look over the financial health of a one particular firm to demonstrate their knowledge about the basic process of financial analysis paper writing in college and university. You should remember that you are not alone if you need professional financial analysis essay help from expert writers. And if you decided to address a writing service for assistance – it can be the best solution for you.

I guess I’ve reached “that” stage in life…


One of the primary selling points of our home was the awesome outdoor living space. We have a good sized patio just off our kitchen that overlooks our big lush backyard, flagstone fire pit area, and the Olympic mountains and Puget Sound. Our patio is awesome, but for the last nine months, it’s been naked. With summer quickly approaching,I had to change this.

We “needed” patio furniture.

As I began the process of patio furniture hunting , I realized I’m no longer as frugal as I once was. Dare I say, I’m starting to act more like I’m 30, and less like I’m 20. 

What’s the difference between a 30-year-old and a 20-year-old you ask?

It means my tastes have shifted from Ikea to West Elm, from thrift stores to Nordstrom, and  for a nice dinner out over fast food.

Quality, not price, is my primary concern.

Yes, I still looked at Ikea, Target, and Home Depot for patio furniture and learned I could get a five piece patio dining set for about $400 at one of these stores. But why would I pay $400 for crap? Okay maybe not crap, but the furniture is inferior to more expensive sets in terms of materials used and build quality.

We love our patio. We love to entertain. We plan on living in our house for many years.

It seemed only logical that we make  the right decision and invest in a high quality patio set that we love. I knew I wanted our set to include metal and wood, but hadn’t seen anything that tickled my fancy. Most patio furniture seems to be either made of all wood, all wicker, or all metal. Like this $900 set that screams “I’m 90 years old and like to have tea parties”

Screen shot 2014-04-08 at Apr 8, 2014, 10.47.08 PM

After countless hours of searching in stores, online, and on Craigslist I finally found a patio set that I loved. It’s called the San Clemente and we found it at World Market. Check out this sexy piece of furniture…

Screen shot 2014-04-08 at Apr 8, 2014, 10.53.14 PM

The table was $400 which I thought was a pretty great price. The chairs, however, were quite expensive. The armless chairs run $120 each. the armed chairs run $130 each.


Multiply that by 6 chairs and things get expensive fast.

I considered buying just the table and trying to find cheaper chairs elsewhere, but then I had a 30-year-old moment, and thought to myself…

“Why the heck would I spend $400 on an awesome table and ruin it with less-than-awesome chairs?”

Not only did I end up buying six of those beautiful chairs you see above, but I bought six chairs WITH arms (the more expensive chair model) because let’s be honest, who doesn’t love having arm rests when they are sitting down?

Total damage for the set came out to $1,300 after finding a 10% off/free shipping coupon online. It’s not an uber fancy $5,000 set like Costco offers, but it’s a far cry from the $200 set I would have bought at Ikea five years ago. And it is by far the most expensive furniture piece we’ve ever purchased (next would be our $888 stainless steel refrigerator).

Growing up is expensive, and I kind of like it. 

Have you noticed yourself graduating up in certain categories as you get older? If so, which ones? In what areas of your life, do you still frugally? (we rent a room out in our house, sacrificing privacy for income)

Screw being a millionaire

Ninja Mansion

When I graduated college, at 21 years old, I really only had one goal for myself in regards to my personal finances.


But here I am, seven years later, realizing that I don’t actually care about being wealthy.

I know, I know. You’re probably thinking, “Ninja, you’re a hypocrite. Some of your posts definitely seem like you’re all about building wealth.”

After all, I haven’t been shy about sharing how we’ve…

…averaged a 50%+ savings/investing rate since we’ve been married.

…rented out a room in our home to help bring in extra income.

…increased our net worth a silly amount each year (up $70k in 2013)

Meh, you say tomato, I say to-MAH-to.

You see, we aren’t saving an obscene amount of our income, living frugally, or investing in our retirement accounts so we can reach the coveted millionaire status. That couldn’t be further from the truth. 


Instead of talking about money, let’s talk about physical appearance as related to fitness. At 6’2 and 175-ish pounds, I tend to be a little leaner than most other men my height.

But make no mistake, I don’t ski, take Nova on walks, or coach high school tennis so that I can be in better shape. Instead, I’m fortunate to be in decent shape because I have a proclivity to do active things; like ski, go on walks, and play tennis.

I care more about the cause, less about the effect. 

The same is true for our money. I never want to lose sight of what is important. I have an innate desire to live well below my means, and save or give away my excess. This was true when my household income was $38,000 a year, and is still true today at $120,000. I don’t measure my value by my net worth, square footage, or income.

So while yes, I do think I’ll be a millionaire one day, please let me make it clear: I don’t care to be a millionaire. 

I just want to be a good steward of the resources God’s given us. It just so happens stewardship often begets wealth building.

Does life get worse?

I remember being in my Junior year of high school, loving every minute of it, thinking to myself “This is the best time of my life. It’s all downhill from here.” 

Then I went to college in San Diego and watched the sunset over the ocean every night for four years and thought to myself “Wow, this is the best season of life ever. I never want to graduate.”

Then I graduated, got a sweet job, and got to prove to myself I could make it as a productive member of society. I was having just as much fun as I did in college, but wasn’t quite as broke and no longer had homework. WIN!

And now, here I am, six years out of college, married, a new homeowner, about to become a puppy parent, loving every minute, wondering does it get even better?


I have loved just about every phase of life, except middle school – honestly what person enjoyed middle school?


Contrary to my feelings about the future, life has always seemed to get progressively better. I’m shocked I love being 28 more than I loved being 18!


Our financial situation has followed suit. Six years ago I was a fresh-out-of-college graduate making $13/hour with a staggering $28,000 debt load. Every year since then has been better than the last, resulting in a quarter-million dollar gain. That’s insane to me.

I hope this doesn’t come across as bragging. That is not at all my intention. Thankfulness and awe are probably better indications of how I feel. I don’t expect things to get better, but somehow they always have.


It’s mind-boggling really.


Parenting is likely the next phase of life I’ll find myself in. I’m skeptical that it will be better than this current season, but hey, when I was graduating college I remember almost crying at the thought of having to work for the next 40 years. But here I am today, so thankful I don’t have to sit through another History 101 lecture, cram on a Sunday night, or touch a Scantron ever again.

Is this normal?

What would you say your favorite season of life was? Are you like me and each phase only gets better? Or is there a phase that finally makes you long for how it used to be?