Finance has become a common daily topic in social conversations for many people in various countries, often revolving around their income and expenditure. This happens for a number of reasons, while I believe this is a negative development that can lower people’s self-esteem.
The increased focus on money issues in people’s daily conversations can be attributed to two main reasons. One of these relates to the increasing cost of living in most, if not all, regions. With housing, education, and healthcare expenses soaring, individuals often find themselves discussing their financial situations to seek advice or to simply vent their frustration. In addition to this, the widespread influence of social media plays a significant role in making money-related conversations more prevalent. Platforms such as Instagram or TikTok often showcase individuals boasting their material possessions and luxurious lifestyles, fostering a culture where discussing one’s income and expenses is normalized and even encouraged.
There are several reasons why talking about money in daily conversations is a negative trend. First of all, constantly talking about expensive purchases or high salaries can create an environment where material possessions become a measure of self-worth and happiness, overshadowing other important, non-material aspects of life, such as relationships, personal growth, and community engagement. For example, people start racing for financial well-being at work, thereby forgetting about family and friends. Moving to the next reason, these conversations can foster unhealthy social comparison. When individuals excessively compare their financial situations to those of others, it can give rise to feelings of inadequacy, jealousy, and resentment, potentially damaging relationships and creating social divisions. For example, people can lose so much confidence and feel pressure to look like people from social platforms, who has excellent financial life.
In conclusion, while earnings and expenditures are being discussed more often in daily interactions because of increasing cost of living and influence of social media, I strongly believe that it can have adverse effects on individuals’ self-esteem and can foster unhealthy social comparison.