The Community EditionSOCIAL MEDIA AND OUR FINACIAL MINDSETS
I often joke that if I were made king of the world, my only act would be to ban social media before quickly renouncing the throne. It’s a joke most of the time—except when it isn’t (all the time). I dislike the medium for many reasons, and if you catch me outside with time to spare, I’ll gladly list them all. For now, I want to focus on just one: the way social media affects our financial health. In my last piece, I mentioned that one thing I wish I had done in my early 20s was leave social media behind.
The Medium is the Message
Social media is inextricable from our lives now, so it’s easy to forget what it’s made of and designed for. Beneath all the communication is a relentless stream of content engineered to overwhelm, to keep us consuming. Unlike other mediums which allow space for reflection and doubt around the information being presented, social media rewards speed and confidence. It thrives on sharp, brash soundbites that hook our nervous system and attention through fear or anger.
This isn’t to say there’s no good financial advice on TikTok or Instagram—there is—but the medium matters. A book like The Psychology of Money by Morgan Housel or I Will Teach You to Be Rich by Ramit Sethi allows the space to close the book after a chapter, a sentence, or a word to reflect on if what is being presented is accurate and if it applies to your unique situation. On TikTok, the next video plays before you’ve had a chance to process.
Attention
How do you even know what matters to you?
I grew up with opinionated parents—whenever I came to them excited about an idea, they’d quickly suggest a dozen ways to “make it better,” usually without fully understanding what I was trying to do (although they would disagree). I’d leave the conversation feeling overwhelmed, paralyzed.
This is what social media feels like to me. You want to get better at money so you look up content, and you are inundated with five million opinions, usually conflicting and impersonal, about what you should do right now!
But healthy money habits require solitude, adjustiment and curiosity. They require reclaiming your attention. How many times have you been down a wormhole on the internet only to come up feeling loopy about the four hour scrolling session? You have to step back from the noise, ask yourself what matters and get clear on your own priorities. Once you have that clarity, it becomes easier to ignore the fear-driven side of personal finance content. The part that pushes FOMO and instant gratification.
Our Financial Goals are Often Communal
One of my best friends lives in the building across from me, and another is my roommate. Between us, we own three cars—purchased at different points in our lives when driving was more efficient due to the poor public transportation options. Each car came with the same story: at first, the convenience, then the sharp burden of maintenance costs. I’ve wondered what life would look if we thought of some of these things as communal versus individual goals.
Lately, I’ve become a kind of evangelist in my friend group. Not about religion but about living together. Every time we gather, the conversation turns to despair: How will we ever afford homes, families, stability, in an economy that feels like it’s always crumbling?
And while those fears are valid, I try to remind us of something else our parents had: community.
Growing up, there was always an aunt, uncle, or grandparent nearby. A neighbour’s parent picked us up from school and made sure we were fed before our parents returned from their long days at work. Families overlapped; responsibilities were shared. That communal safety net made financial goals more sustainable.
Those structures are weaker today. Social media didn’t cause that loss, but it amplified it. It flattened our relationships, made us strangers, and fed on our loneliness. I often wonder: what if we organized life differently? What if we valued community over career growth, connection over moving in search of more pay? What if we chose to live with, and for, the people we love—rather than isolating ourselves in single-family boxes?
#CHIDINMAMBANEFO #Finance #financialGoals #iWillTeachYouToBeRich #JessiWood #mediumIsTheMessage #personalFinance #psychologyOfMoney
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