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Financial decisions are influenced by friends’ showy social media feeds
|
All |
Millennials |
Generation Z |
| Wonder how friends can afford expensive experiences posted on social media |
60% |
72% |
74% |
| Pay more attention to how their friends spend versus save |
57% |
53% |
61% |
| Spent more money than they can afford to participate in experiences with friends |
35% |
48% |
41% |
| Influenced by social media to spend money on experiences |
34% |
49% |
44% |
Source: Charles Schwab
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