How TikTok Drives Gen Z Women Into Debt

Publication date: December 7, 2023

How TikTok is driving Gen Z women into debt

By Movieguide® Contributor

As Gen Z women spend more time on TikTok, the content they consume on the app is redefining how they shop and spend their money.

said Erin Briggs, brand analyst at Morning Consult. explained“TikTok is a Gen Z, female-centric app that is setting the tone and narrative of what is ‘hot’ online.”

“The bigger conversation is how much our digital lives are impacting our real lives,” she says. Added. “TikTok is driving consumption patterns in a very real way.”

“TikTok is having a huge impact on how young people spend their money, with #TikTokmademebuyit receiving over 8 billion views,” CNBC said. report.

Morning consultation also available found “75% of Gen Z women use TikTok, compared to 62% of men.”

Gen Z is also more willing to try new brands than older generations. “77% of Gen Z adults say they make an effort to try new brands, the highest percentage of any generation,” the source said. Added.

Time spent on apps with trends, brands, and influencers promoting different products means Gen Z is spending more and increasing their debt margins.

“Research shows Gen Z’s non-mortgage debt increased by 99.3% between March 2021 and Q1 2023.” lending tree. Young consumers had an average debt of $10,797. “Personal loan and credit card balances in this age group skyrocketed, increasing by $1,292 and $1,771, respectively,” CNBC reported. I have written.

Sophia Bella Daigle, founder of Gen Y Planning, explained that the smartest thing Gen Z can do is “avoid credit card debt.”

“If you don’t start in the hole, it’s much easier to move on to other things,” she says. Said.

Even though Gen Z women are spending money on products they discover through TikTok, “approximately 59% of women are living paycheck to paycheck, compared to 41% of men,” according to Varo Bank. discovered. Additionally, 67% of women say they consider themselves financially vulnerable or have little financial means or support,” she told CNBC. report.

Despite the increase in spending and debt among the younger generation, God gives us this warning: Matthew 6:19-21 A Christian’s treasure is in heaven.

“Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal; but store up for yourselves treasures in heaven, where moths and vermin destroy. neither destroy, nor let thieves break in and steal: for where your treasure is, there your heart will be also.”

Movieguide® previously reported on the impact of TikTok:

Half of U.S. adults now get their news from social media, but their preferred platforms have changed in recent years.

a new research Pew Research Center findings reveal that TikTok and Instagram have grown in popularity as news sources since 2020, while X (formerly Twitter) and Facebook have declined in popularity as news content. .

While the number of adults who get their news from social media has remained largely unchanged since 2020, at around 50%, the platforms they use have changed dramatically.

TikTok is the most popular, with 43% of users now regularly consuming news on the site, compared to just 22% of users getting their news from the platform in 2020. Instagram has seen a similar, albeit less dramatic increase, with 28% of users finding news on the site in 2020, rising to 34% in 2023.