October 15, 2018

Millennials Are Miserable and Broke

“Social media can send our bank balances and moods plummeting.

Millennials spend more time on social media than older generations: People ages 25-34 spend 141 minutes per day on it, versus 105 for the 35-44 set. And that could be hurting both their finances and mental health.

Indeed, data released Thursday by mobile bank firm Varo Money found that 53% of millennials admit to buying something they saw advertised on social media. And a survey released earlier this year from Allianz Life shows that more than half of millennials (57%, versus just 28% of Gen Xers and 7% of boomers) say they’ve spent money they hadn’t planned to because of something they saw on social media.

This is partly because millennials say they feel pressure to keep up with their friends’ spending — and of those, nearly half say that social media posts of friends’ vacations and lifestyles contribute to that pressure, according to 2017 data from TD Ameritrade. Social media also makes 61% of millennials (versus just 35% of Gen Xers and 12% of boomers) feel inadequate about their own life and what they have, with 88% comparing themselves to others on social media (compared to just 71% of Gen Xers and 54% of boomers who say the same), according to the Allianz data. And the Varo data found that three-quarters of millennials feel social media portrays an unrealistically positive view of people’s lives — and as a result 41% have made a purchase to feel better about their own lives.”

Read more

JJ Best Of The Web

“Some Catholic leaders are using the sex abuse crisis to unseat Pope Francis.”

“The ever-present president reflects a new media strategy, driven by the president’s natural impulses.”

“A ranking published by Be Free Israel, listed Modi'in as the Israeli city with the most religious freedom.”

“What is the 13th Amendment? A Kanye-inspired history lesson.”

Think your theory about the market plunge is the right one? Get in line.

"New techniques that dig more deeply into genetic databases may soon make the anonymity of their customers’ DNA impossible to safeguard."

“Religiously unaffiliated voters, who may or may not be associated with other civic institutions, seem most excited about supporting or donating to causes…”

Norman Podhoretz of Commentary Magazine started his career with a controversial negative review of Saul Bellow’s “Augie March.”

" ' One of the keys to a successful marriage is separate bathrooms,' Obama said."

“Does not American cheese have merit in some way, if only as a testament to American ingenuity, and salt?”

“At the neighborhood level, these differences are sometimes even more drastic, appearing even when communities are only a few miles apart.”

“There is such a thing as too late, as the terrible legacy of "if only", and the image of a hand which stretches towards a dove - which is no longer there to return.”