A new study has found that Instagram and TikTok make one in three adults feel negative about themselves and their finances.
Young people are most affected by social media, according to the new report by Bankrate that was published yesterday. Nearly half of Generation Z and millennial social media users feel negative about their finances after seeing others’ posts, more than any other generation. That compares with nearly a third of Generation X and more than a fifth of baby boomers .
“Social media distorts reality in the sense that people put their best foot forward and sometimes portray unrealistic versions of themselves,” says Bankrate industry analyst, Ted Rossman.
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