Rapper Nicki Minaj — worth an estimated $100 million — says ‘the people that really got it’ don’t do this. Pros say that if many of us stop doing it, too, we could become richer ourselves.
To be fair, this is not going to be an easy thing to overcome. Not only can a phony lifestyle be exhausting, but social media is designed as a never ending stream of content, often with people who are constantly striving for the next best thing or shiny new object, notes certified financial planner and certified financial therapist Curtis Pope.
“You’ll always feel like you’re on a hamster wheel of consumption and studies are showing that Covid has already increased anxiety and depression … and when we’re constantly seeking and showcasing an extravagant lifestyle, it becomes very difficult to find contentment in the ordinary,” says Pope.
Pope says within our lifetime, there was a time when we had no idea what kind of car a certain celebrity was driving or the type of handbags or watches famous people were wearing. “The proliferation of social media over the past decade has made us all acutely aware of what everyone else is driving, wearing or doing on vacation,” says Pope. With a constant view into the lifestyles and consumption habits of the so-called rich and famous, taking a break from social media might be just the antidote to feeling the constant need to keep up.
Experts also say it’s important to remember that nothing is forever and with that mindset you’re more likely to try to live a more authentic lifestyle. “2022 has been the perfect example of why it’s so important to live within your means,” says Pope.
