Page 37 - Payne Research Center ~ Money Matters

P A YN E C E N T E R . OR G
THEME 4
Multimodal Approaches to Financial Advice
Due to the nature of open-ended questions, the findings and discussion sections are presented together.
Findings & Discussion
The prevalence of social media among students and their exposure to targeted marketing on these platforms raises concerns about the potential for impulsive buying behaviors. In response to an open- ended question about social media usage, students indicated that Instagram and TikTok are the platforms they use the most. Continual exposure to targeted advertisements and the influences of social media has a considerable impact on students’ spending patterns and lifestyle, with pressure to fit in resulting in impulse buying of the latest goods and services likely to affect those with lower disposable incomes (Sharma, 2024).
The influence of social media on consumer behavior, particularly among young adults, has been well- documented. Social media platforms use sophisticated algorithms to target users with personalized ads based on their interests, browsing history, and social connections. This targeted advertising can be highly effective in driving sales, but it can also lead to overspending and financial instability, particularly for students with limited incomes. The pressure to conform to social norms and maintain a certain lifestyle, as portrayed by social media influencers, can further exacerbate this tendency.
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