How to navigate social media trends without derailing your budget

NEW YORK (AP) — Did you buy a new pink dress to watch the Barbie movie, only to never wear it again? An Oura ring because your favorite TikTok influencer had it? A new pair of baggy jeans because ’90s fashion is making a comeback?

Niche trends fueled by social media can influence your shopping decisions. Participating often brings some happiness and a sense of community, but the problem comes when you do it so often that you’re not using your money to achieve your financial goals, or worse, you get into debt, said Erika Rasure, chief financial wellness advisor for Beyond Finance, a financial services company.

Whether it’s coastal grandma or clean girl aesthetic, microtrends can take a significant toll on already-strained budgets as prices rise and Gen Z struggles to pay off debt.

If you find yourself overspending to participate in microtrends, here are some expert recommendations:

Pause before purchasing

Before you click “buy” on TikTok Shop, it’s best if you take some time to reflect, said Jennifer Seitz, head of education for Greenlight, a financial literacy app for families. Pausing before a purchase can help you discern if the item is something you really want or a fleeting craving.

“Think if you want to put it in a schedule pause, whether it’s 24 hours or even a couple of days if it’s a larger expense,″ Seitz said.

Participating in personal challenges can be a good way to get in the habit of making purchases more deliberate. Back in 2022, Alyssa Barber participated in the no-buy year challenge, where she pledged to stop buying non-essential items for a year.

Barber shares sustainable practices with over 370,000 followers on TikTok, where one of her recurrent themes is how to stop impulse buying. Barber said the challenge gave her perspective on how much she was spending on things she didn’t need. Since then, she has changed her spending habits, focusing mainly on experiences.

Know your spending values

Taking a value-based spending approach can help you decide if you should participate in a trend you see online, Rasure said.

If, for example, you want to build an emergency fund, having this goal in mind while shopping can help avoid unnecessary spending.

Quynh Van, a 27-year-old UX designer from Minneapolis, was surprised by the number of ads on TikTok when she created an account after a four-year break from social media. And while being influenced by the ads is inevitable, she believes overspending comes in part from users not having defined goals.

“When you don’t know who you are or what you like, you’re so driven by over-consumerism and lifestyle creep because you don’t have your values in order,″ Van said.

Rasure recommends using your financial values as a guiding principle for your spending decisions. If you’re not sure of your values, allocate some time to map them out according to your life goals.

Create barriers to spending

If a purchase is one click away, it can make it easier to spend large amounts of money. If you consciously make it a little harder to pay for an item, you can spend more mindfully, Seitz said.

“Just that action of needing to input your payment information rather than just that simple click can help you give to really stop and think about purchases before moving ahead with them,” she added.

To add barriers, you can remove your credit card details from your computer browser or social media and disable Apple Pay on your phone.

Think of it as an act of self-care

Finances are closely tied to emotions, and often, they evoke negative feelings such as shame or guilt. However, reframing them as an act of self-care can help you spend mindfully, Rasure said.

“It can help you create boundaries around what you value spending money on, helps you choose intentionally and it feels more like freedom instead of restriction,″ she said.

Your spending habits in the present can help your future financial situation. This mindset can inspire you when you’re tempted to overspend on the newest trending electronic or fashion item.

Engage with trends with mode
ration

It can be OK to engage with trends if they bring you positive feelings, Rasure said.

Van decided to participate in the matcha trend, but with moderation. For Barber, physical media, such as old records, DVDs, and cassettes, is on her list of non-negotiable expenses, as she loves collecting these items.

“Trends and engaging them, engaging in them really should spark that happiness or contentment, not the debt that can go with them,” Rasure said.

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The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.