Social media is a new territory for many people. It holds so many possibilities, whether you are a business, a role model, or just using it for leisure purposes. With social media being so new, it opens possibilities for positive and negative influences on your reputation. People are posting very private topics on these public platforms. It can actually hurt your finances if you are abusing your privileges on the platforms.
Here are examples of risks that can be damaging to your finances:
Funding
With high school students being allowed to use all social media platforms now (over the age of 13), they can post content all over their pages that could get them in trouble at school. Students have lost funding for school events like prom, sports, and they even have been revoked of several scholarships they have received for college.
This also goes for college students. Students partying too hard or participating in illegal activities have been punished at their colleges by losing financial aid, getting kicked off sports teams, and even getting expelled from school. These actions can’t be taken lightly because it impacts your future, especially when job hunting.
Career
If you have a public social media profile, and share too much with the social world, your potential employers can see this. Your current employer can also see this too, especially if you are talking negatively about your current job. This is actually grounds for termination. Plenty of other job seekers would like your job and appreciate it much more than you. Again, this can hurt your job hunt from then on.
Debt Collection
Have you ever missed a credit card payment and had a debt collector call you almost within 24 hours of missing your payment? Or have you been skipping payments altogether? Your debt collectors have your phone number, and they probably have your email information. This means you are searchable on social media. They can track your actions to see where you are and what you are doing. You are not only hurting your credit score, but all of your information can be used against you online, especially if you are avoiding interaction with the debt collector.
Identity Theft
How much information do you think you are posting about yourself online? Chances are, you are posting enough information to get scammed or get your identity stolen. Facebook asks for very detailed information about you, and if all of this information is public on your account or if your account is hacked, you are only making access to your identity easier to obtain from the thieves.
About the guest author: Ashleigh Murray is a freelance writer and is using social media as a way to boost her marketing efforts. She uses social media as a free resource to get her name out to the public while saving money. She has also been researching credit repair companies to lower her credit score in order to make future investments for her business.
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I guess the bottom line is to keep some for yourself. Although social sites are publicly used, it doesn’t mean that you have to post everything about yourself in the site. All of us have our own choice whether to put all of our information or not. Also, there is such a feature such as “private profile”.