Lewis & Monroe, PLLC
Free One-Hour In-Office ConsultationsFree One-Hour In-Office Consultations

Researchers find correlation between Facebook and credit card debt

Out of control credit card debt often leads people to seek out debt relief. This can include discharging debts through a Chapter 7 bankruptcy or reorganizing what is owed with a Chapter 13 bankruptcy. However, some go with the route of debt consolidation hoping that combining multiple debts into one payment will lead to better control of their financial situation.

But just how do people end up in such bad debt in the first place?

While there is not one answer, as everyone's situation is different, job loss, unexpected medical bills and overspending without even realizing it are just some of the many reasons often listed among Florida residents.

In terms of overspending, researchers recently released the findings from five experiments pointing to the fact that there is a correlation between the amount of time spent on Facebook and the amount of credit card debt a person has.

On first read this may not make sense considering the fact that Facebook is free for individuals to access. However, sources point to the fact that keeping up with close friends has a positive impact on a person's self-esteem. An increase in self-esteem can actually lead to a decrease in self-control. This can lead to overspending.

This is why a recent article in the Business Insider points to taking control of spending now, especially before the holidays officially hit. This means making a holiday shopping list before going on Facebook and seeing friends' puppy pictures. Also, actually calling a person on the phone or meeting face-to-face for coffee instead of browsing their profile page may help.

But what do you think? Is there a correlation between Facebook and spending? Have you ever made sporadic unplanned purchases after checking Facebook?

Source: Business Insider, "There's Definitely A Link Between Social Media And Bad Spending," Alden Wicker, Nov. 6, 2012

  • Our firm helps Florida residents who are struggling with debt. To learn more, please visit our Orlando credit card debt page.

1 Comment

You're so interesting! I do not suppose I've truly read through something like
that before. So nice to discover somebody with unique thoughts
on this subject matter. Really.. thank you for starting this up.
This web site is one thing that is required on the internet,
someone with some originality!

Leave a comment
Comment Information
ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
Email Us For a Response

Contact The Firm In Orlando, Florida

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Lewis & Monroe, PLLC

651 Rugby Street
Orlando, FL 32804

Phone: 407-917-4147
Fax: 407-246-0008
Map & Directions