Millennial women may be on a collision course with financial disaster 

Personal Finance

Priya Malani, a founding partner at financial planning firm Stash Wealth, has a different take on the sharp increase in desired salary.

She lays it directly at the presence of social media in our daily lives, which can make it difficult to determine realistic goals around purchases and lifestyle.

“Your friends appear a lot richer on social media than they actually are,” Malani said. Visual platforms, such as Instagram, “make it very easy to compare your life with your friends’ lives.”

But people rarely see the discrepancy between what their friends show themselves affording, and what they can actually afford. “We know,” she said. “We see the credit card debt.”

“Bottom line, social media can be very misleading and may be influencing how much money we think we need to be happy,” Malani said.

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