According to a survey released last month by LendingTree, 62% of Gen Z-ers feel pressure to spend money and keep up with people around them - compared with the national average of 32%.
"That spending then leads to overspending, which leads to debt, which can lead to real trouble."
48% of social media users reported buying something impulsively that they saw advertised online, spending an average of $754 on impulse purchases in the previous year.
"I do think that within our generation, social media has contributed to over-consumerism and others feeling pressured to buy the nicest and newest things to keep up with trends and popular items," Jacey Insani, a 23-year-old lifestyle creator.
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