Facebook and Money


We had a Guest Post for you that we never received, so in an effort to bring you something different, I wanted to share an article that came across my Facebook news feed recently and share my thoughts about it. How many of you follow Dave Ramsey on Facebook? You really should. He posts some amazing articles, quotes, and tips in general to help with budgeting. Don't confuse him with a friend though because of his lack of hair and question the friend as to what has gotten into him and his finance posting, lol.... Yes, I did that and Yes, I felt stupid! :) Let me share the article found HERE:

5 Things Facebook Can Teach You About Money

Facebook. You either love it or you hate it. Or you hate it. Or you really hate it.

Really, Facebook’s not all that bad, but you have to learn to take it (or your “friends” who are on it) with a grain of salt.

Yeah, you might think it’s one big time-waster—and it can definitely be that—but you can actually learn a lot of life lessons from Facebook.

It’s true. For example, did you know that Facebook can teach a lot of great lessons about handling money?

Don’t believe us? See if this makes you change your mind.

The Comparison Trap.

Sally just posted about her trip to Cancun. Mark just gloated about his awesome raise at work. Paul just posted a photo of his new BMW (probably leased). Everyone’s life is so perfect, isn’t it?

Actually, no, it’s not.

When it comes to life and money, remember that everyone’s Facebook version of themselves is always better than their actual life. We all want to show off or exaggerate the “better” part of our lives. On Facebook, that’s where the comparison trap comes into play. Be comfortable in your own skin.

You won’t like everything.

We’re talking about getting out of debt here. Or consistently investing each month. Like those annoying over-the-top political posts on Facebook, your experience getting out of debt and socking away a good chunk of change each year won’t always be fun. You might not want to press the “like” button every morning.

You’ll have to make sacrifices. You’ll have to spend less. You’ll have to be disciplined. That might not always be exciting, but it’s worth it.

Surround yourself with positive people.

When you have annoying “friends” on Facebook, what do you do? You either unfriend them or hide them from your feed, right?

If you’ve got a bunch of haters in your life and you’re surrounded by a bunch of so-called friends who make fun of you for trying to get out of debt, then you need to dump them like a bad habit. If they can’t respect your decision, then you don’t need to be around their negativity. Take a break from those “friends.”

Other people will be happy to spend your money.

Look over to the right side of your Facebook page. Ever notice those ads? Those people would love nothing more than for you to click on their link and buy something from them.

That’s advertising, and there’s nothing wrong with it. But when it comes to your precious dollars, you have to choose which, if any, marketing voices you will listen to. If you don’t come up with a game plan for your money, those companies will.

The buck(s) stop with you.

Your Facebook profile is what you make of it. Nothing gets on there without you clicking the Submit” or Upload button. If you upload a picture of yourself drunk and passed out, you only have yourself to blame. If you write a mean-spirited status update that ends up going viral, you only have yourself to blame.

With your life and money, you reap what you sow. If you continue to make bad choices with your money, those decisions will eventually catch up with you.

What has Facebook taught you about money—or anything else?

This was such a great blog to me and so true. I would have never thought to compare Facebook and my finances, but I guess that is why I am not Dave Ramsey. How often do we look at others and wish that we had what they had? That we could go where they go? Doesn't it seem we are always wanting what something MORE than what we have. When do we become contented with our own life and luxuries; or the lack thereof. 

I think Dave Ramsey has a lot to offer everyone- especially if you are someone that is really trying to follow the right path, financially. It is hard. Trust me, I know. We have been on a serious budget since moving to Texas and being on one income in January. Do we always stick to the budget? NO. Do we try? YES. We know what the important things are for us though and we strive to do it: Saving for Retirement. Living on a budget is so much better for our marriage in general and it makes us happier all together. Living the simpler life is what I say it is.... 

We should have been living on a budget all these years that we weren't. We ALWAYS put away into retirement and into a savings plan... but if we had been living on a tighter budget, it would be great to see what we could have achieved differently. The husband has always been amazing with money.... and I can tell you that I have gotten SO much better. For the first time in our marriage, we have made the choice for me to be home, THANK GOD, and it is really great. I Was so scared moving here that it wouldn't work out, but it really is. 

So like Dave said above.... What has FB taught you about money or something else? Do share. 


See other posts from our BUDGET SERIES: 

Facebook & Money

Retirement Planning at a Young Age

Living Frugally Part II

Ways to Live Frugally

What is a Budget